How can I eliminate the 9% platform fee?

Hypermarket offers two distinct subscription plans designed to cater to different merchant needs, particularly in how they prefer to manage transaction fees. Understanding these options can help you select the plan that best fits your sales volume and financial strategy.

Overview of Subscription Plans

Hypermarket provides two main plans:

Pay per Sale Plan:

• This plan does not require any monthly fees.
• Merchants are charged a 9% platform fee on each transaction. (+ additional payment processing fees)
• Ideal for new merchants or those with lower sales volumes who prefer not to commit to a monthly fee.

Pay per Month Plan:

• Merchants pay $99 per month.
• The 9% platform fee is eliminated. (Additional payment processing fees still apply.)
• Upon upgrade, the reduced fee structure takes immediate effect.
• If the monthly payment fails, the plan automatically reverts to the Pay per Sale plan.
• Ideal for established stores with a high volume of sales, where the monthly fee is offset by the savings on transaction fees.

How to Opt Into the Pay per Month Plan

1. Log into your Hypermarket account and access your store’s dashboard.
2. Click on the 'Finances' tab where you will see your current plan and the option to change your subscription.
3. Select the "Pay per Month" plan and proceed through the checkout flow to make the payment.
4. Once the payment is processed, the plan change takes effect immediately, reducing your transaction fees from the next sale onward.

Benefits of the Pay per Month Plan

This plan is particularly beneficial for merchants with high sales volumes, as the flat monthly fee can result in significant savings compared to the 9% fee per transaction.

With a flat monthly rate, budgeting becomes simpler as merchants know exactly what their platform fee expenses will be, without variability based on sales volume.

Strategic Considerations

Assess Your Sales Volume

Before opting for the Pay per Month plan, analyze your average monthly sales. Calculate whether the $99 monthly fee is less than what you would pay with a 9% fee on your transactions.

Monitor Sales Trends

Keep an eye on sales trends. If your store’s sales volume increases consistently, switching to the Pay per Month plan could save you money in the long run.

Choosing the right subscription plan on Hypermarket can have a significant impact on your store’s profitability and operational efficiency. By carefully evaluating your sales volume and financial goals, you can make an informed decision that aligns with your business strategy.