PayPal MassPay feature was originally developed to send payment to one or multiple recipients and the sender pays the transaction fees and not the recipient does not has to pay any PayPal transaction fees. Now as domainer, webmaster of if you are offering designing and development services on the web you are bound to receive payment of your services through PayPal (which remains the preferred and popular payment method).
Mass Payments can be only made through PayPal Premier or Business accounts.
To make a Mass Payment you will have to use the balance of your PayPal funds and you cannot use your Credit card to make the payment.
The current transaction fee for Mass Payment is 2% per payment, with a maximum of $1.00 per payment (so a lot of money can be saved in fees).
Steps to making a Mass Payment:
1. Click on the Mass Pay link at the bottom after you login to your PayPal account.
2.Click on the “Make a Mass Payment” link as shown in the figure below.
3. PayPal needs a tab-delimited file containing your recipients(s) information so that you can send a mass payment.
4. The MassPay format file can be easily created with Notepad. Open Notepad type in the recipient email address [press tab] amount you wish to be transferred [press tab] and then the currency. Once you enter all the details then you can save the file on your desktop for easy reference.
Step 5: Coming back to the Mass Payment screen as in Step #4 we locate the Mass Payment file along with the other details as shown in the figure and click the “Continue” button.
Step 6: Next you will see a confirmation screen to validate the payment details as you have entered through the Mass Payment file. Once you cross-check all the details are perfect. You can click on the “Send Money” link and the payment will be successfully delivered and the recipient will not be charged any transaction fees and you (sender) will have to bear a $1 fee for sending the mass payment.
You will see the Mass Payment is completed almost instantly using the “My Accounts” link.
Is making Mass Payment Safe?
Mass Payment offers no protection for the buyer so make sure that you trust the recipent of the payment as Mass Payments can also not be cancelled.
Saving Money with Mass Pay:
So the next time you are looking for payment for a particular payment by PayPal for various services, domains or anything else make sure that you direct your clients to this PayPal Mass Payment tutorial save money on the transaction fees.
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I wish I could benefit from this feature. But sorrow of my life is that I have never really received any big or consistent payments in paypal. Only outgoing, no incoming
BTW, nice feature and honestly I never knew it is there.
~Sahil