Fees on Palmstreet

Dear Palmstreet sellers, thank you for being core members of our community, by selling on the platform and servicing our customers.

As a platform, we invested heavily to make plant buying & selling more fun and simpler:

• Building a smooth and non-lag LIVE experience; comments are also instant
• Removing the need to invoice customers after LIVE
• Blocking scammers, handling chargebacks, supporting customer questions
• Handling sales taxes for sellers

Palmstreet wants to continue to be the best partner for your plant business. We are going to introduce changes in the following areas: Selling Fees, Trust & Safety, and Auctions.

Selling Fees

The goal is to keep the community more sustainable for everyone.

• The platform can continue to work on fun and smooth LIVE experiences, trust & safety, and features that save time for your business
• The fees will be very reasonable in order to help support the growth of plant businesses
• The fees will be transparent, with no surprises, and communicated ahead of time

Effective Oct 16, 2023, we will offer three seller plans: Hobby, Full-time, and Business; each has been designed to meet your specific needs.

Hobby Plan

• Monthly fee: $0
• Selling Fee:
  LIVE: 5.9%
  Purge: 0.9% (Promotional)
  Shop: 2.9%
• Number of LIVEs and/ or Purges: 6 per month
• 3rd-party payment processing fee:
  Regular orders: 2.9% + $0.3
  Installment orders: 6% or 5.99% + $0.3

Full-Time Plan

• Monthly fee: $99
• Selling Fee:
  LIVE: 4.9%
  Purge: 0.9% (Promotional)
  Shop: 2.9%
• Number of LIVEs and/ or Purges: 10 per month
• 3rd-party payment processing fee:
  Regular orders: 2.9% + $0.3
  Installment orders: 6% or 5.99% + $0.3

Business Plan

• Monthly fee: $399
• Selling Fee:
  LIVE: 3.9%
  Purge: 0.9% (Promotional)
  Shop: 2.9%
• Number of LIVEs and/ or Purges: 18 per month
• 3rd-party payment processing fee:
  Regular orders: 2.9% + $0.3
  Installment orders: 6% or 5.99% + $0.3

When you upgrade your plan, the start date matches your upgrade date and lasts until the same date in the following month. For example, if you upgrade to the Full-time plan on October 15, 2023, at 22:12:15, your plan's initial month will run from October 15, 2023, to November 15, 2023, at 22:12:15.

Selling Fee Deductions for Sellers

Trendy LIVE Deduction: If a LIVE event you host becomes Trendy, sales in that specific LIVE will enjoy a 0.5% selling rate reduction. A Trendy LIVE is a LIVE that has 100 or more bookmarks by the scheduled time.

New Sellers Deduction: Sellers who start selling after June 6, 2024, will receive a 3% selling fee deduction for the first 30 days as a welcome offer.

Processing Fees Covered by Sellers

If the buyer does not use installment payment while making a purchase, processing fees that the seller will pay include:

$0.3+2.9% of the subtotal of the order, charged by Stripe, the payment service provider of the order.
If the buyer uses installment payment, processing fees that the seller will pay include:

$0.3+6% of the subtotal, charged by Stripe and the installment plan provider of the order.

Definition of fees

Selling Fee: A % Palmstreet charges to cover operational costs. It applies to both the product price and the shipping cost.

Processing Fee/Stripe payment fee: a fee charged by Stripe, a 3rd party company that handles all customer payments. It applies to the product price, the shipping cost, and sales tax. Palmstreet does not take any part of that.

If the buyer does not use installment payment, processing fees that the seller will pay include:

• Stripe payment fee: $0.3+2.9% of the sold price (item price and shipping fee).

If the buyer uses installment payment via Affirm and AfterPay, processing fees that the seller will pay include:

• stripe&payment plan fee: $0.3 + 6% of the sold price (item price and shipping fee).

If the buyer applies the installment via Klarna, the seller will pay:

• stripe&payment plan fee: $0.3 + 5.99% of the sold price (item price and shipping fee).

Monthly Fee: charged monthly, offers lower selling fee + more LIVEs + longer LIVEs

Seller's starting date: defined as the first date they list a plant for sale in our Shop or the first date they actually go LIVE

Sales Tax Obligation for Buyers

• As mandated by law, we are obligated to collect sales tax on behalf of certain tax authorities.
• Sales taxes vary in different states due to the variation of tax requirements. You may check it while checking out or after making a purchase.