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  • Writer's pictureMichael Smith

Understanding the New Wix Payments Processing Fees for 2024

In 2024, Wix is updating its payment processing policies, introducing new fees that will impact transactions through its platform, including those processed by PayPal. This move is significant for businesses using Wix Payments, as it may influence transaction costs and overall payment management. Here’s a detailed look at what these changes entail and how they might affect your business.

Key Changes in Wix Payments Fees

  1. Standard Processing Fees:

  • For most transactions in the United States, Wix Payments will maintain a processing fee of 2.9% + $0.30 per transaction. This rate applies to payments made via major credit/debit cards, Apple Pay, and Google Pay.

  • For in-person payments using Wix POS, the fee is slightly lower at 2.6% + $0.20 per transaction​ (Wix Support)​​ (Website Builder Expert)​.

  1. Higher Fees for Certain Transactions:

  • Transactions involving manual card entries or specific card types such as American Express will incur higher fees. For example, using American Express for online payments will attract a fee of 3.7% + $0.30 (Website Builder Expert)​.

  1. Event Ticket Sales:

  • Wix will charge a 2.5% service fee on ticket sales through Wix Events. This fee can be absorbed by the seller or passed on to the buyer. This is separate from the standard processing fees charged by payment providers like PayPal​ (Wix Support)​.

  1. Geographical Variations:

  • The processing fees vary by region. For instance, in the European Union, the fee is 1.9% + €0.30 per transaction, while in Canada, it’s 2.9% + $0.30 CAD (Wix Support)​.

Implications for Businesses

These changes have several implications for businesses using Wix Payments:

  • Cost Management: The new fee structure necessitates a closer look at transaction costs, especially for businesses handling large volumes of payments or using higher-fee methods like American Express.

  • Pricing Strategies: Businesses might need to adjust their pricing to account for the increased transaction costs, particularly for ticket sales where the 2.5% service fee is applicable.

  • Regional Considerations: For businesses operating internationally, understanding the specific fee structures for different regions will be crucial for accurate financial planning.

Managing the Impact

To manage these new fees effectively:

  • Review Payment Methods: Evaluate the cost-effectiveness of different payment methods offered to customers. Encouraging the use of lower-fee options can help mitigate overall costs.

  • Pass Fees to Customers: Consider passing the additional service fees to customers, particularly for ticket sales, to maintain profit margins.

  • Optimize Transactions: Reduce manual card entries and encourage the use of more cost-effective payment options where possible.

Wix’s updated payment processing fees for 2024 reflect a broader trend of payment platforms adjusting their fee structures to align with market changes. While this may result in higher costs for some transactions, businesses can manage these impacts through strategic adjustments to their payment methods and pricing structures. Staying informed about these changes and planning accordingly will be key to minimizing any negative financial impact.

For detailed information on the specific fees applicable to your region and payment methods, visit the Wix Payments Help Center (Wix Support)​.


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