Staff blog for Waterfall. To ask questions, go to @ask-staff instead, but first read the FAQ. For tutorials on basic features, head to @support.
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COVID-19, Quarantine, and the Commission Marketplace
By now, you're almost certainly acutely aware of the global health emergency going on. Chances are you're also being forced to self-isolate, or your workplace has shut down.
We're very aware that this is a concerning time for everyone and for many, financial uncertainty is almost as big a concern as being ill right now. While we can't help everyone, we're doing what we can for our artists, for some of whom commissions are likely to be their only source of income for the near future.
With immediate effect, the Commission Marketplace fees have been adjusted. For lower priced tiers, we've lowered the take as far as we can push it without it costing us - in other words, just enough to cover the payment processors fees. On all milestones over $10, we now take 5%, including the payment processor fee. This means artists will now recieve up to 95% of the list price, which should be putting us better than PayPal in some cases.
On milestones costing less than $6, Waterfall will still take 10% (remember - this 10% includes the fees for Stripe, which we pay on your behalf). For those between $6 and $7, we'll take 9%. Less than $8, we'll take 8%, etc etc, until less than $10 where we'll take 6%. After that, we only take 5%. For non-USD users, the same rates and thresholds apply in your local currency. For users billing in Japanese Yen, the treshholds are ¥599, ¥699, etc through ¥999.
We're also looking into adding PayPal support as soon as possible for those unable to use Stripe.
While we'd love to say "screw it, fees waived", we're unfortunately not large enough or in a financial position to do that right now, so we're hoping that the rates being pushed as low as we can go without bankrupting ourselves gives our artists the boost they need.
The reduced rates will remain in place until the outbreak slows down and infection control measures begin to be lifted.