21 replies
I notice that many people on here recommend paypal for every type of situation....one time payments, recurring payments...any time someone needs to process.


Why? I can see for online but why offline? Almost any bank can provide you with lower fees for a virtual terminal than paypal's 3% or whatever it is.

Why don't people recommend telling your business bank account rep you need a merchant account to process credit cards? They'll have their rep in within a day or two to set it up and at much lower than paypal.
#paypal
  • Profile picture of the author Colm Whelan
    I pay 22c for debit, 1.6% for credit and 2.4% for corporate and they're much less likely to screw you than Paypal.
    {{ DiscussionBoard.errors[7934163].message }}
  • Profile picture of the author planbpayments
    Paypal is a very convenient option.. but if you are running a low risk business, there are far better options available, specially in North America.
    Signature

    High Risk CC Merchant Accounts, Alternative Payment Solutions
    Offshore Bank Accounts and Incorporations.
    Email - info@planbpay.org
    www.planbpay.org

    {{ DiscussionBoard.errors[7934203].message }}
  • Profile picture of the author merkado
    For example, Here in Asia, It's very hard for us to apply an merchant account since it will take long to process and wait. Too many paper works and needed to take a long ride to visit their office.So, for easy set-up, we used PayPal.

    Regarding to the fees, we make sure to compute some digits before we launch :-)
    Signature
    ROC.PH offers Affiliate Marketing Program Management
    Skype: rukawa1990 l US Phone: +1 (516) 9261626 l PH Phone: +63 (919) 8444311
    {{ DiscussionBoard.errors[7934204].message }}
  • Profile picture of the author bob ross
    I like the convenience of sending paypal invoices over email that they can use their credit card with. None of my other merchants offer that service.
    {{ DiscussionBoard.errors[7934256].message }}
  • Profile picture of the author Amod Oke
    1) Popularity - almost +80-90% people who use a card online (from the developed countries at least), have a paypal account.

    2) Quick - You can get a new paypal account running in a few hours.

    3) Relatively cheaper than many

    4) All in one platform - recurring, trials, one time, multiple currencies (not many though)

    5) Finally, do you know that there are other countries outside of the US? If you did know that, then you don't know that its virtually impossible to get a merchant a/c outside the one nation under god!
    {{ DiscussionBoard.errors[7934282].message }}
    • Profile picture of the author MaxwellB
      Originally Posted by bob ross View Post

      I like the convenience of sending paypal invoices over email that they can use their credit card with. None of my other merchants offer that service.
      That's true but I guess I just prefer to get their CC info and process myself instead of invoicing. So I can process and get paid and not have to worry about when they will pay the invoice.


      Originally Posted by Amod Oke View Post

      1) Popularity - almost +80-90% people who use a card online (from the developed countries at least), have a paypal account.

      2) Quick - You can get a new paypal account running in a few hours.

      3) Relatively cheaper than many

      4) All in one platform - recurring, trials, one time, multiple currencies (not many though)

      5) Finally, do you know that there are other countries outside of the US? If you did know that, then you don't know that its virtually impossible to get a merchant a/c outside the one nation under god!
      To your first point I am not talking about people paying you online I am talking about you processing payment for offline customers like local businesses. I don't tell them to go to a website and pay me I take their CC information and process the payment myself.

      Okay fine, I should have specified in my post I was talking about Americans. Yes I know for everyone in other countries it's difficult but American's doing offline consulting for small businesses it just makes sense they would not use paypal. Unless of course you want a solution bob Ross was talking about and really want to invoice and let them pay.

      My whole point with this thread is American's are being told "paypal, paypal!" when they ask about CC processing but there is a ton of other safer virtual terminal merchant accounts with lower fees that don't always side with the buyer in disputes.

      It's as simple as talking to your banker about it when you set up a business account. The bank has reps that aren't trying to rip you off like CCP sales organization and work with huge companies like First Data and Global Payments directly.
      Signature
      Get featured on Forbes, Inc, Entrepreneur, Bloomberg and other major media publications - Gain instant trust, credibility and close more sales!

      {{ DiscussionBoard.errors[7934349].message }}
  • So far there's been a lot of positive feedback from Paypal in this thread with supporting factors. Anyone have a negative experience with Paypal and as to why? I've seen people rant about them before but have provided 0 evidence as to why.

    How many charge backs do they allow before they cut you off?
    How many different merchant processing accounts does Paypal permit you to keep open?
    How does their international fee structure compare to other big banks?

    I've often wondered these but have yet to find someone who knows the answers and I've found their support staff is borderline clueless. Clearly they have a niche in eCommerce but every organization has both their pros and cons.
    Signature
    {{ DiscussionBoard.errors[7934522].message }}
    • Profile picture of the author MaxwellB
      Originally Posted by allianceprocessing View Post

      So far there's been a lot of positive feedback from Paypal in this thread with supporting factors. Anyone have a negative experience with Paypal and as to why? I've seen people rant about them before but have provided 0 evidence as to why.

      How many charge backs do they allow before they cut you off?
      How many different merchant processing accounts does Paypal permit you to keep open?
      How does their international fee structure compare to other big banks?

      I've often wondered these but have yet to find someone who knows the answers and I've found their support staff is borderline clueless. Clearly they have a niche in eCommerce but every organization has both their pros and cons.

      They charge 3.1% + 30cents per transaction for all virtual terminal processing and $30 per month.

      I pay about 2.2% through BOA with no monthly payment as long as processing fees are above $16 per month.

      But don't you work for a merchant services company?

      Overall paypal is pretty much the most expensive, and very biased to the consumer when dealing with disputes. They are not like a bank that has your interests in mind. I've never used them but everyone I know that has ever had chargeback problems with paypal has said that they almost always take your money first and then ask questions later.
      Signature
      Get featured on Forbes, Inc, Entrepreneur, Bloomberg and other major media publications - Gain instant trust, credibility and close more sales!

      {{ DiscussionBoard.errors[7934566].message }}
  • Profile picture of the author WeavingThoughts
    Convenience

    Buyer security

    Lack of better options
    {{ DiscussionBoard.errors[7934612].message }}
    • Profile picture of the author MaxwellB
      Originally Posted by WeavingThoughts View Post

      Convenience

      Buyer security

      Lack of better options
      1. Convenience- Go to your bank and tell your business banker you need a merchant account...why is that not convenience for more than a third less fees?

      2. Buyer security? What for? Your processing the payments yourself not sending them to an ecommerce page. I'm talking about offline consultants here.

      3. Lack of better options - sounds like you don't know any other options:rolleyes:
      Signature
      Get featured on Forbes, Inc, Entrepreneur, Bloomberg and other major media publications - Gain instant trust, credibility and close more sales!

      {{ DiscussionBoard.errors[7934634].message }}
  • That helps, yes I work with a network of Merchant Service companies and the figures you provided seem to be just about at par for online processing and big banks.

    It's just funny, generally when you hear about people complaining about a company or organization online it's usually just a bunch of riff-raff with very limited valid data as to why, so I figured I'd ask for opinions.
    Signature
    {{ DiscussionBoard.errors[7934635].message }}
    • Profile picture of the author RimaNaj2011
      Paypal is the standard and what I'm used to and it seems to have everything I need especially with invoices and currency exchanges. But I am looking into something new solely for the reason I don't like how paypal always sides with the buyer.
      Signature

      {{ DiscussionBoard.errors[7935052].message }}
      • Profile picture of the author abbot
        Banned
        MOST that recommend paypal are not processing large volumes..

        PayPal is good for those that are looking for simplicity and convenience AND that process lower volumes.

        I used them for a while when I was just starting out. Then I had $15k frozen because of one simple dispute. They held the funds for over 4 months and the only way to communicate is through email.

        Also, I'm not positive on the exact numbers or details but...you can't simply close a large deal, have them pay through paypal, and transfer it to your bank account. Paypal limits the amount you can transfer to bank accounts. It's a headache.

        Only use paypal if you process less than $1500/month. Any that disagree with me...don't come bitching when YOU have your funds frozen :rolleyes:

        Print your own checks or sign up for a real merchant account and pay higher fees.
        {{ DiscussionBoard.errors[7935681].message }}
  • Profile picture of the author 70chevelleSS
    Paypal only really works if your volume is low or your risk is minimal. If you are doing any volume above $20k a month, or you get any type of chargebacks, i'd stay away from paypal. It's just too easy for them to shut you off or hold your money. It's just as easy to sign up with a quality merchant processor and have them setup an account for you in Auth.net. Every shopping cart or CRM in the world integrates with auth.net.
    {{ DiscussionBoard.errors[7935947].message }}
  • Profile picture of the author webcosmo
    Paypal is great for international overseas transfers, and for small amounts it`s cheaper than wired transfers. Plus, you are protected.
    {{ DiscussionBoard.errors[7936214].message }}
  • Profile picture of the author ItsmeChris
    I choose paypal because for me PayPal has no trouble copying what works and it's leading in mobile. I’m well aware of the controversy the company faced in the past but I still recommend it as a solid online payments solution for any Internet business because I believe the worst is behind them.
    {{ DiscussionBoard.errors[7961007].message }}
  • Profile picture of the author Adrian John
    I recommend Paypal too.I never had any problems with them.They do have some higher fees but 80-90% of people I work with use it, it's Wordwide and I can get cash within 3 days of withdraw which is pretty good for me.I love that they have the mobile app too (like my bank) cause I use it a lot.
    I hope they never freeze my account but I think I depends on how you do business and what's your refund rate ... mine it's 0% now so I guess I'm good
    Signature
    ARE YOU A CONSULTANT? Do you have clients who could use MORE LEADS?
    Get them a MOBILE WEBSITE PLATFORM built to stay up with their clients habits.
    More than 50% of their customers buys from their mobile devices now!

    CLICK HERE FOR MORE INFO
    {{ DiscussionBoard.errors[7961066].message }}
    • Profile picture of the author midasman09
      Banned
      Here's a PayPal alternative;

      Hike on down to a Staples. Tell a clerk you are looking for a software program that "Prints Checks".

      She/He will take you to a program (I forgot the name but it's $49...one time) Install the program and...you have your customer hand (or Fax or Mail) their check to you. You then enter the info off the check (heck, I've even had them simply READ the info to, on a phone call)

      The program prints out a Check (on the signature line it says, "Signature On File") You stamp the back, "For Deposit Only" and deposit into your business bank account. No Fees...No wondering if PayPal is going to do something to your account for whatever reason.

      I started out doing this in 1992 with a software program called "Checks-By-Fax".

      I went to each of the 4 banks in my town and asked if they would accept my "Checks By Fax". 3 of them said they "needed an Actual Signature". One said they were familiar with the new "Banking Procedure" and..."Yes! They would gladly accept my checks!"

      That's the bank I put ALL my accounts in and I'm still with them.

      Don Alm
      {{ DiscussionBoard.errors[7961851].message }}
  • Profile picture of the author gcgipson
    Originally Posted by MaxwellB View Post

    I notice that many people on here recommend paypal for every type of situation....one time payments, recurring payments...any time someone needs to process.


    Why? I can see for online but why offline? Almost any bank can provide you with lower fees for a virtual terminal than paypal's 3% or whatever it is.

    Why don't people recommend telling your business bank account rep you need a merchant account to process credit cards? They'll have their rep in within a day or two to set it up and at much lower than paypal.
    It is my belief that PayPal is in decline, for reasons that have been discussed time and time again. More and more merchants are using other services like 2checkout, alongside PayPal.
    {{ DiscussionBoard.errors[7963100].message }}
  • Profile picture of the author kellyyarnsbro
    " They'll have their rep in within a day or two to set it up and at much lower than paypal."

    Paypal does it in minutes, so why wait for a day or two and then after two days they'll tell you that it's denied.
    {{ DiscussionBoard.errors[7964801].message }}
  • Profile picture of the author JerrickYeoh
    Because paypal is the one people trust on the payment method which provide excellent secure payment methods and very effective in capture fraud payment.
    Paypal users everywhere and paypal create trust on buyer so that why merchant have to choose paypal as payment gateway as well.
    {{ DiscussionBoard.errors[7965063].message }}

Trending Topics