From the author: Curious Fictions fees have always been a straight 25% across the board. We've sometimes been asked why this seems higher than the advertised fees of other platforms out there. Here's why.
Curious Fictions fees have always been a straight 25% across the board. We've sometimes been asked why this is higher than the advertised fees of other platforms out there. There are a couple reasons for this:
1. We want the author's takeaway to be as predictable as possible.
Platforms often advertise their fees as something like "5% plus payment processing fees," which leaves a lot to the imagination.
The amount payment processors like Paypal and Stripe charge varies depending on the amount of the transaction, as well as the location of the merchant (we currently support authors in 23 countries). The structure of these fees (flat rate + percent rate) disproportionately affect micropayments, so on many fundraising platforms, people are charged $0.33 on a $1.00 transaction before the platform even takes a cut, resulting in a final fee closer to 38% or more.
Because we deal so heavily in small transactions, we want to keep those fees as low as possible, and we don't want authors to have to guess what their take will be -- or worse, be surprised by steep fees.
2. We want to build a sustainable business that provides as much value to authors and readers as possible.
We've often discussed internally whether or not we could lower our fees for larger transactions, and we may be able to at some point.
But rather than being dependent on raising ever-increasing venture funding, we want to build a sustainable business: one that doesn't just provide a way for authors to process payments, but also serves as a destination for readers and authors; a place readers go to find great work and authors go to build an audience. A lot of our time and resources are dedicated to adding features to make a better reading and publishing experience, and to curating and highlighting great work on the site.
We don't want to be everything to everyone: we want to be the absolute best we can be for authors and readers. We're always working toward that goal, and always talking to authors and readers to learn what we can do better. If you have any questions or suggestions for us, you're always welcome to contact us at email@example.com.
CEO & Founder