probably because your `Patreon_Old_Max_Fee` and `Patreon_Old_Min_Fee` are wrong. The portion taken has never been as low as 2% on a $1 pledge. From their old FAQ: "Stripe charges 1.9% + $0.30 per transaction. PayPal charges 5% + $0.05 per transaction."
So, under the old fee system, for a $1 pledge, the service fee was either $0.32 for Stripe or $0.10 for PayPal. On a $10 pledge, it was $0.50 for Stripe and $0.55 for Paypal.
I just went based on the information given in their blog post, which said "an additional third party processing fee that ranged from 2% – 10%".
Edit: I'm not exactly sure how to calculate the fees based on the info in their FAQ. Taking Stripe as the example, they say the fees are 1.9% + $0.30 per transaction. So if I pledge $10, I guess that means that Patreon charges me an amount $X such that X * 1.019 + 0.3 = 10? And if so, do they take their own 5% cut out of $10 or out of $X?
Edit 2: I took my best stab at it and replaced the min/max with specific entries for Stripe and Paypal.
> I just went based on the information given in their blog post, which said "an additional third party processing fee that ranged from 2% – 10%".
that's probably because the average pledge size is probably much closer to $10 than $1
> I'm not exactly sure how to calculate the fees based on the info in their FAQ...
What you're guessing seems spot on. If you pledge $10 under the old system, then Patreon took a 5% cut of $10, and Stripe took 1.9%*$10 plus 30¢. So, the patron paid $10, Patreon got 50¢, Stripe got 49¢, and the creator got the remaining $9.01.
if the product is half as good as this gushing article says it is, then none of this is going to matter once they hit market... this is nothing compared to the stories you hear about the beginnings of Facebook, Snapchat, etc.
The article doesn't really say the product is good, just that a lot of people said it was good... which isn't quite the same thing. Also from the article:
"The demo and the app, some employees came to realize, were not the same thing. When it came to the actual app’s progress, multiple sources say Duplan wasn’t always straight with his employees."
Sounds like it could be a real-life case of "Important Corollary Two" from here:
So, under the old fee system, for a $1 pledge, the service fee was either $0.32 for Stripe or $0.10 for PayPal. On a $10 pledge, it was $0.50 for Stripe and $0.55 for Paypal.