How do the changes to Whatnot’s payment processing fee impact my sales?
Historically payment processing of 2.9% + 30 cents was only applied to the subtotal of the order. This has been updated whereby sellers will now be charged 2.9% + 30 cents payment processing for the subtotal + tax + shipping.
- If you sell an item for $25, and the buyer pays $25 + $4 shipping + $2.19 tax. The buyer’s credit card is charged $31.19.
- Under the prior method, the 2.9% fee would apply to the subtotal ($25) for a total processing fee of $0.73 + 30c.
- Beginning 5/31/22, the 2.9% will apply to the full amount the buyer was charged, ($31.19) for a total amount of $0.90 + 30c.
- In this example, the increase in payment processing fees is $0.17 on a $25 sale
Will I be charged a processing fee for shipping and taxes on historical orders?
No, this will only affect transactions from Tuesday, May 31st, 2022, moving forward. There will be no retroactive adjustment.
Is there still a thirty-cent payment processing fee or has that changed?
The thirty-cent payment processing fee is unchanged - payment processing will remain 2.9% plus 30c per transaction. The difference is that this 2.9% now applies to the buyer’s total (including taxes and shipping).
Is the payment processing fee charged on international shipping and taxes?
Currently, no. The payment processing fee only applies to domestic shipping and taxes.
Is the 8% Whatnot commission charged on shipping and taxes?
No, the Whatnot commission only applies to the amount the seller sold the item for (the buyer’s subtotal).
How can I get a breakdown of the fees deducted from my live sale?
While this is not currently visible in the app or on the seller dashboard on the web, our team is working hard to provide additional clarity. We will notify the seller community as soon as such changes become available.
Please click here to contact our Seller Support team to receive a more detailed breakdown of fees charged.
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