What Kind Of A PayPal Account Do You Need?
Both administrators and vendors need a PayPal Business account. If you don't have a PayPal Business account, upgrading your existing account or creating a new PayPal Business account is quick and free of charge. There are no additional costs involved.
To upgrade to a PayPal business account, go to www.paypal.com/upgrade. If you are an individual, enter your name when PayPal asks for a "business name."
PayPal Processing Fee
The PayPal processing fee will be taken from the seller for each transaction. Processing fees differ based on the transaction amount, currencies, and depending upon transaction mode. Ex domestic and international transactions. Please refer to this link for more details https://www.paypal.com/in/webapps/mpp/merchant-fees
Example Of A PayPal Transaction
Example: Currency is USD, the marketplace commission % is 10, and the minimum commission is $5. Both Vendors and users are in the US.
The buyer pays $200. PayPal's fee for domestic purchases in the US is 2.9% + $0.30, which totals $3.20. The remaining $196.80 is transferred to the seller's PayPal account.
10% of $200 is $20, which is higher than the minimum commission of $10. This means that $20 is transferred from the seller's PayPal account to the marketplace administrator's PayPal account. The marketplace administrator receives $20 in their PayPal account.
The seller will keep $176.80. The marketplace administrator will keep $20. PayPal will keep $3.20.