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    Email problem
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    Financial model

    Hi everyone. I am really having troubles setting up my financial model. With all the options out there, it is pretty daunting. For my business we are planning on having (hopefully) thousands of "employees". I am planning on paying them with paypal. Would that be a viable way? The payments would be less than R100 for each person. The business model is pretty similar to that of a paid survey business, if that helps you understand why we would have so many employees. If I was to pay my "employees" with paypal, would it be a good idea to also get paid with paypal? Or should I stick to the 50% upfront and 50% after with a normal transfer method?
    Thanks in advance!

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    Site Caretaker Dave A's Avatar
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    Are these "employees" going to be located in South Africa?
    Are they likely to be on Paypal already?
    If not, are they likely to have credit cards?
    Do they bank at FNB?
    What sort of account?

    One of the biggest drawbacks I see in using Paypal the way you propose is receiving money into a Paypal account if you're a South African is a right royal PITA.
    The trouble with opportunity is it normally comes dressed up as work.

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    Well we are planning on having a link on our website directly to the paypal site where they can register. They more like consultants than employees. Why do you say it is a pain if you a south African? Our "employees" are going to be pretty international but probably more south African in the beginning stages.

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    I'm sorry if I'm not so clued up on all this. As you can tell I'm very inexperienced and still have a lot to learn

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    Site Caretaker Dave A's Avatar
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    Probably the biggest headache for South Africans when it comes to Paypal is ordinarily you can't receive payments from other people into your Paypal account. You can pay stuff through Paypal - just link one of your a credit cards (or more) - but you can't receive funds as a "merchant."

    This problem was "solved" by an agreement between Paypal and FNB, but it does come with some conditions - and costs

    I suggest you read the thread on Paypal in South Africa to get a better idea of the potential issues.
    The trouble with opportunity is it normally comes dressed up as work.

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    Gold Member Mark Atkinson's Avatar
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    I wouldn't use Paypal as your primary payment system. It's not yet established enough in SA.

    On all of our e-commerce sites and online businesses we use PayFast to facilitate the payments.

    They offer wider range of payment options and creating an account is quick and easy. You can receive instant EFT payments, credit card payments etc. If your "employees" create Payfast accounts, I don't see why you couldn't pay them via PayFast.

    Take a look, it might work for you.
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    Bronze Member Miro Bagrov's Avatar
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    I'm busy researching payfast, i don't know it

    Paypal is a waste of money to pay R100.. absolutely.
    If you want to pay R100, do a manual cash deposit into their accounts at the bank itself. It will be free. They will pay deposit fees depending on which parasite bank they use.

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    Bronze Member Miro Bagrov's Avatar
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    Here is what I found at PayFast.

    PayFast Fee
    Setup Fee Free
    Monthly Fee Free
    Send Funds Free
    Receive Funds
    - Credit Card 4.90% + R2.00
    - Instant EFT 2.00% (min R2.00)
    - Ukash 7.00% (min R2.00)
    - PayFast Voucher 2.00% (min R2.00)
    Payouts R 8.77
    Selling Tools (PDT, ITN etc.) Free
    All fees are Ex VAT
    So actually:
    - Credit Card (4.90% + R2.00) * 1.14 = 5.586% + R2.28
    - Instant EFT 2.00% (min R2.00) * 1.14 = R2.28
    - Ukash 7.00% (min R2.00) * 1.14 = 7.98%
    - PayFast Voucher 2.00% (min R2.00) * 1.14 = either 2.28% or at least R2.28
    Payouts R 8.77 * 1.14 = R9.9978 (=10 bucks)

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    Email problem BusNavig8's Avatar
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    I agree, would not use Paypal, unless absolutely no other route.

    You talk of "employees" are they "employees" in terms of the Act?

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