Will PayPal ever be replaced?

14 years ago

I personally think in the years to come they will have less of a monopoly. I am personally sick of paying 3.5% paypal fees and am looking into other, cheaper alternatives.

I guess Paypal does have its benefits though, since most of my customers already have a Paypal account.

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g36

14 years ago

Originally Posted by YasirYar

I personally think in the years to come they will have less of a monopoly. I am personally sick of paying 3.5% paypal fees and am looking into other, cheaper alternatives.

I guess Paypal does have its benefits though, since most of my customers already have a Paypal account.

lol, 3.5% fees are considered cheap compared to other processors.

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michaelgrisso

14 years ago

Originally Posted by YasirYar

I personally think in the years to come they will have less of a monopoly. I am personally sick of paying 3.5% paypal fees and am looking into other, cheaper alternatives.

I guess Paypal does have its benefits though, since most of my customers already have a Paypal account.

I'm not sure if anyone is aware of this, but PayPal does offer cheaper pricing. You can sign-up for Micro Payments that offers 5% + .5 cents as a payment plan.

We were looking for cheaper fees due to our low investment price of $1.99 per month. However, when we received a confirmation email, it said you can do it for any amount.

It's a whole lot better than 2.9% + .30 cents in our case. It might be for any of you as well.

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N4PGW

14 years ago

As long as eBay holds its position as the most popular auction house, it will continue to hold its competitive edge. Even the big G could not compete with PP because eBay would penalize user of google money.

If they could be separated again, then things would be different.

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Steven Miranda

14 years ago

I don't think it will be happening any time soon... They have a strong hold on this area.

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E. Brian Rose 14 years ago

Originally Posted by Steven Miranda

I don't think it will be happening any time soon... They have a strong hold on this area.

Kind of like Altavista did before Yahoo demolished them? Or when Google demolished Yahoo?
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- Steven Miranda 14 years ago
  
  Originally Posted by E. Brian Rose
  
  Kind of like Altavista did before Yahoo demolished them? Or when Google demolished Yahoo?
  
  True but of course that was my opinion EBR
  
  Remember ... Dogpile.com..or askjeeves.com?
  
  Thanks
  
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- Ryan David 14 years ago
  
  Originally Posted by E. Brian Rose
  
  Kind of like Altavista did before Yahoo demolished them? Or when Google demolished Yahoo?
  
  People will try a service if they view the old one as being broken. Not sure how many people, outside of IM'ers, that see a problem with the way paypal operates.
  
  Thanks
  
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JustFelix

14 years ago

Use amazon. They have the same thing as paypal. A quite a lot of people uses it.

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Miguelito203

14 years ago

Originally Posted by GoldPro

What do you think? Can PayPal ever be replaced?

I know there are other alternatives out there, but I think that PayPal is to people who do business online to what Wal-mart is to people who like to shop offline. It's like the standard. I don't think it will ever be replaced. I mean, even if there are other competitors in the future that take up some of the market share, PayPal will always dominate. It's like Google and Bing.

Joey

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myob 14 years ago

They will be replaced. You can take that to the bank.

Bank of America, Chase, Wells Fargo form new venture to help consumers make person-to-person payments electronically
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JSanti7

14 years ago

I don't think it's gonna be replaced in the short to medium term at least. Most online retailers and online shoppers use it. And I think they provide good service so far anyway...

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design2convert 14 years ago

It will never be replaced but its users were using replacement of its, like moneybookers.com and alertpay.com
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jaiganeshv

14 years ago

I think wso pro has already replaced paypal in the warrior forum. Am i correct???

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J Bold 14 years ago

Originally Posted by jaiganeshv

I think wso pro has already replaced paypal in the warrior forum. Am i correct???

WSO Pro integrates with Paypal, so nope.
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Owen Smith 14 years ago

Originally Posted by jaiganeshv

I think wso pro has already replaced paypal in the warrior forum. Am i correct???

You are incorrect, WSO Pro is not a payment processor, you still have to use Paypal to pay.

-Owen
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- mantrixx 14 years ago
  
  I think it will be here for a considerate time.
  The fees can be frustrating, but otherwise I don't mind them staying.
  
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Darrell Hagan

14 years ago

Originally Posted by GoldPro

What do you think? Can PayPal ever be replaced?

I sincerely hope so. PayPal has had the monopoly for far too long and their service is too unpredictable with their ability to lock accounts whenever they like. Fees are also too high IMO, especially considering the sheer volume of business which they enjoy.

I do understand the need for fraud protection etc. with any payment processor but locking funds for 180 days - 6 months - thats 2 months longer than a complete season - is simply asinine.

Automatically awarding refunds to purchasers of physical items who claim that either the item was never received when the seller has proof that it was sent - or that the item was not as described because in reality the buyer couldn't really afford it and wants to keep the item AND the money, is also asinine but PayPal routinely does this and worse.

Yep, they could pack their tent & leave. Wouldn't hurt my feelings.

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shaunyb1 14 years ago

Whatever the market wants, will throw up the leaders, so if Paypal stay in front of the trends and demands they will continue to thrive. If they do not adapt or grow they will get left behind and others will gain more ground and customers.

Gaining market share is key for any business, but if that market is already monopolised by one large company and a large amount of the population use it, it's going to be one long and slow slog for others to make an impact. Not impossible, but will take either a long time, or something negative to hit Paypal (bad news etc.)

So as things continue, I dont foresee paypal losing its place as leader (if thats right) for at least 5 years, but during that time, others may rise and attract new customers.
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simonbuzz

Banned 14 years ago

PayPal is a nightmare..I have left using it and now I am happy with AlertPay

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SpinnerHawk

14 years ago

I really hope they are replaced soon, or at least have strong competition.

But we must admit that paypal has it's advantage and easy to use.

I don't have paypal account and cannot use my credit card through paypal, while I don't have problem accepting payment, it's a pain in the b*tt when I want to buy something and seller does not give any other payment option except paypal.

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onegoodman

14 years ago

I think moneybooker can replace it easily if they didn't have many restrictions for U.S. citizens lol

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Leo M

14 years ago

I don't see Paypal lasting very long to be honest, with their crazy fees and locking accounts.

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Ghansson

14 years ago

Of course Paypal will last. They have over 200 million accounts ..

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Wiz Khalifa

14 years ago

I really wish they would replace paypal. I got a few accounts limited and lost some money, no other payment processing company does what paypal does and manages to get away with.

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harrietfredge

14 years ago

There are so many people who are sick of paypal and I'm one of them. But I doubt that they can be replaced, it would probably take a long time.

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design2convert 14 years ago

Originally Posted by harrietfredge

There are so many people who are sick of paypal and I'm one of them. But I doubt that they can be replaced, it would probably take a long time.

In the mean time there were more payment processor will came and yes there were many peoples which were sick now about Paypal.
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IMWinner

14 years ago

As far as I know, when something rises, the next thing will happen is to fall. Not that I would say that everything will fall and disappear, it depends on how that organization or civilization will try to maintain its existence.
PayPal will continue its existence, but not in the same popularity as they are at present. Since there are already news and complains regarding the policies and activities in PayPal. More people have already left or have stopped using PayPal as the source of transacting payment and receiving some payment. There are other ways and sites that provide services like PayPal. As for the moment, PayPal is still considered as the primary monetary transactions of people in the IM business.

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wtatlas 14 years ago

There are alternatives to Paypal such as Alert Pay, Google and Sage among others, who are slowly making inroads into this business.

Give them time and I think Paypal's market share will be eaten into.
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Andrew Schoon

14 years ago

Yes, There are alternatives, but it's make most of the buyers to NOT BUY.
I think paypal actually helps to increase the conversion rate.

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RussRuffino

14 years ago

Originally Posted by Andrew Schoon

Yes, There are alternatives, but it's make most of the buyers to NOT BUY.
I think paypal actually helps to increase the conversion rate.

Ryan Deiss tested this, and offering PayPal as a payment method actually HURTS conversion rates. Crazy, but true.

Russ

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Bruce NewMedia

14 years ago

Originally Posted by RussRuffino

Ryan Deiss tested this, and offering PayPal as a payment method actually HURTS conversion rates. Crazy, but true.

Russ

Russ, that is crazy...and without seeing his results, I don't believe it.

What was he comparing PayPal to, a full service merchant account? In the cases where my clients have offered PayPal and 'something' else, every time PayPal has been the overwhelming choice.

I'm no fan of how PayPal treats many product sellers, but their appeal to shoppers is undeniable.
_____
Bruce

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zigato

14 years ago

Originally Posted by brucerby

Russ, that is crazy...and without seeing his results, I don't believe it.

What was he comparing PayPal to, a full service merchant account? In the cases where my clients have offered PayPal and 'something' else, every time PayPal has been the overwhelming choice.

I'm no fan of how PayPal treats many product sellers, but their appeal to shoppers is undeniable.
_____
Bruce

I'm with Bruce here. I haven't seen what the comparison was to, but I would be interested in seeing what it was against.

PayPal may be a bit awful sometimes, but it's also a trusted name. In my old company, we only accepted credit and debit cards as we used a bank payment gateway. For those who didn't have debit and credit cards, they would ask whether we accepted PayPal - and not any other alternative.

Although it may seem that pretty much everyone has a debit or credit card these days, there are many countries where many people don't use them. And no, it's not some poor little country nobody cares about. I'm talking about countries that people actually know of, like Germany.

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RussRuffino

14 years ago

Originally Posted by brucerby

Russ, that is crazy...and without seeing his results, I don't believe it.

What was he comparing PayPal to, a full service merchant account? In the cases where my clients have offered PayPal and 'something' else, every time PayPal has been the overwhelming choice.

I'm no fan of how PayPal treats many product sellers, but their appeal to shoppers is undeniable.
_____
Bruce

Hey Bruce,

I can't give you his exact figures, since it was part of a paid product, but I've seen the exact stats and it was accepting credit cards + PayPal versus just credit cards. Credit cards converted better. They were shocked at the results as well, but they tested it against THOUSANDS of visitors.

Like I said, crazy but true.

Russ

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BIG Mike Banned 14 years ago

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- sethdrebitko 14 years ago
  
  I prefer amazon. In order to sell micro payment and regular payment products through amazon I need to have 2 separate accounts 2 email adresses and 2 bank accounts. On the flip side amazon requires only 1 account and automatically uses the least expensive fee schedule for each button.
  
  They will probably never go away but there days as the top dog are numbered in my opinion.
  
  Thanks
  
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  Zero 14 years ago
  
  Anything can happen in the next 10 years, one can only wonder what kind of innovations will come in this area. If there is a better alternative - then the market will decide Paypal's fate./
  
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Ben Gordon

14 years ago

I don't think PayPal will ever be replaced. The only alternatives for sellers are to use services such as 2Checkout which accept PayPal as a payment option for buyers.

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johnapo

14 years ago

I don't think it will be replaced soon, i don't see a strong competitor at the horizon.

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aymen99

14 years ago

Yeah ! well i hope something come and crash it (i don't like Paypal at all ) and if people think that it can't be replaced well look back at the year 2004 when google appeared

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WebsiteDeck

14 years ago

I don't think I want it replaced, I would want a decent substitute and wider support though.

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Meharis

14 years ago

Originally Posted by GoldPro

What do you think? Can PayPal ever be replaced?

I don't know and I don't care.
I did replace PP & FeePay with Amazon.
Very easy to follow and better results.
If you go by the book -like you should- no one
will do a thing to your account.
Meharis

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Steven Miranda

14 years ago

Originally Posted by Meharis

I don't know and I don't care.
I did replace PP & FeePay with Amazon.
Very easy to follow and better results.
If you go by the book -like you should- no one
will do a thing to your account.
Meharis

I wish they had a book.. they need it. What 'book' do you go by?

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Rod Cortez

14 years ago

Originally Posted by GoldPro

What do you think? Can PayPal ever be replaced?

Be replaced in terms of what?

There are merchant accounts, alert pay, Google check out, 2CO, and the list goes on and on. There are plenty of alternatives to Pay Pal, many of whom allow people to use credit cards as well.

RoD

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devonm

14 years ago

I found something, it is SWREG. I see that Paypal is OK there.

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austria Banned 14 years ago

Originally Posted by devonm

I found something, it is SWREG. I see that Paypal is OK there.

Paypal will hopefully be replaced, but definitely not by SWREG.

SWREG has a horrible reputation,

I know 4 people who used SWREG as merchant.

But SWREG refused to pay without any valid reason,
they just stopped answering email.

SWREG are scammers and thiefs. They simply do not pay out.

That's why they entice you with such low percentage "fees"

Because they keep 100.00 % of your money.

SWREG never paid anything to anyone.
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Sam Meyers

14 years ago

I pray that PayPal is replaced, but unfortunately the buyers love it too much to let it go.

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Reed7

14 years ago

Once you get stung by Paypal, you sure don't forget it...and certainly feel threatened whether you are seller or buyer. The initial "Trust Relation" starts to erode quickly.

There are many alternatives to Paypal, however you find they all have their own unique TOS requirements that may not satisfy users as well.

Looking into using a new Payment Processor is something to approach carefully, and apply some due-diligence before signing up- "there are no perfect ones ", many charge higher fees, use a different set of guidelines. Certainly common sense rules apply.

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MarkJones

14 years ago

Gee I hope so...

Awful bunch to deal with.

Cheers

Mark

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azmanar

14 years ago

Originally Posted by GoldPro

What do you think? Can PayPal ever be replaced?

Hi,

Nothing is forever. Big events can turn the tides pretty quickly.

How many international banks and mega national banks have closed down between 2009 and 2010? How many Finance & Mortgage companies have to be bailed out? How many super telco's with billions of assets were suddenly foreclosed? Even super duper consulting companies closed down. Even long time dictators with mega security apparatus and powerful foreign support lost their powers.

Many -> no need to list down.

Back to relevance -> lots of super cyber companies which seemed to be invading every nook and corner of the world few years ago have lost their lustre. 2 main things will usually slide mega companies down. Competition stole their business and their arrogance turned people away.

So, do you really think PayPal won't bite the dust?

PayPal is already feeling the heat.

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Don Luis Banned 14 years ago

Paypal is to online payments as Facebook is to social networking as Google is to search. These guys are tough to beat.
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vettec5

14 years ago

I dont think it will simply because of how big it is. 9.4 million users. I cant see it going anywhere.
Unless some company came along and found a better way to exchange online payments. But then again, paypal would just capitolize on it and continue to be the best.

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Ryan David

14 years ago

IM'ers (and info-sellers) HOPE Paypal gets replaced. But I think they'd be in for a rude awakening if they thought that any other processor would give them an easier time.

For every Paypal horror story, there are 100 merchant horror stories.

I use Paypal on a number of sites where a physical product is being shipped and I've never had one problem to speak of. I'm sure that most of the users are like me.

And my rates are 2.2% with a Paypal Pro account and I have a dedicated account rep that answers my questions.

Not too bad.

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NerdGary

14 years ago

I hope noone replaces paypal.. they run a tight ship, and they are easy to deal with. Its nice that 99.999% of internet users have heard or dealt with them before, making it unified.

Imagine if you need 500 "buy now" buttons on your site with all different payment processors.. would be a nightmare.

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CheapTrafficDude

14 years ago

Replaced? Not likely... PayPal is as much of a household name as Google. They can get overtaken and those who weren't Google users 15 years ago will back me on this... All it takes is a wave of aggressive marketing and convince the whole planet that the new payment platform is better. Not impossible but not likely to happen any time soon. As long as PayPal is owned by eBay, the only thing they might lose is "market share" and they are not likely going to lose the eBay crowd.

I think PayPal is a good service, never had problems with them... Guess they like me

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BenKJunya

14 years ago

PayPal has reached a user amount to more than a 100 million worldwide. A research was conducted in Canada by Leger Marketing for PayPal and it was found that more than half the residents of Canada are comfortable with the community without the need to bring in money. So it just goes to say that paypal cannot be replaced so easily!