This memo is with regard to how we charge vendors that are on SOUK.
Basically, there are no fees to pay. Our basic premise is that we are not comfortable with charging the ummah a price with a product that is still under construction and not at its full potential. It isn’t fair and it isn’t what is taught to us.
Allah says in Surah Al-Nisa: “Do not devour another’s property wrongfully – unless it be by trade based on mutual consent.” (Al-Nisa: 29)
We therefore will not charge our fellow brothers and sisters until we both decide that SOUK is a product worth paying for.
We will be adding a functionality soon which will allow you to choose the percentage that you would like to allocate to SOUK off every sale that you make. But until we do, the only fees that you will pay is the 3.5% + $0.20 for transactions through PayPal.
Let us know what you think in the comments below.