![]() ![]() While setting up an account is easy, getting the account “verified” can be a hassle. Moreover, there is no space for outside arbitration and no way of knowing how a transaction investigation is progressing. Most of the time, sellers find themselves on the losing end as the company seems to favor customers more. This is outlined in the arbitration policy. If they want, they can “freeze” your account without giving you any reason. In case of chargebacks or disputes between merchants and customers, PayPal has the final word on what action will be taken in a transaction. Check the frustrations of other users on PayPal forum. It is very difficult to get someone on the line to talk to and customer support seems to have been outsourced to an overseas team that really has no power to make any decisions on the customers’ accounts. Most of the time, merchants will receive generic emails when they send an email needing help. ![]() The company has tried to automate its customer service by providing quick links to frequently asked questions or problems that users may experience. PayPal fares poorly when it comes to customer service. Moreover, sellers cannot appeal the company’s decision. The worst thing is that PayPal does not provide an explanation for freezing or closing accounts. Any slight change in your average transaction value can lead to your account being frozen and the money “ locked in”. Since September 2011, PayPal has been stricter with watching its customers’ transactions. Here is a good overview of PayPal’s hidden fees. Sellers charging small recurring payments will find PayPal expensive for their transactions. For example, business and premiere accounts are charged about 1.9-2.9 percent plus $0.30 per transaction. Non-PayPal transactions can be expensive for subscription billing customers. While PayPal waives the fees for many transactions, this is mostly applicable for transactions with other PayPal account holders. In particular, subscription based businesses face a number of challenges when using PayPal to process payments. Cons of using Paypal:ĭespite the many benefits of PayPal, it has some disadvantages. ![]() You can also download your total transaction history. You can easily see your inbound and outbound transactions with the click of a mouse. PayPal enables merchants to accept 24 main international currencies. You don’t need a merchant account to accept credit card payments through PayPal. Integrating PayPal on your website is easy and does not require any financial investment. The company has 137 million active accounts from users in 193 countries. PayPal is the most widely accepted online payment processor. Merchants are only charged when they sell. PayPal does not charge fixed monthly fees. PayPal’s brand recognition is 72% compared to other payment gateways whose recognition is below 50%. PayPal is used all over the world and its brand recognition instills confidence to customers shopping online. To get started with selling online through PayPal, you simply need to copy and paste existing code to your website to have “add cart” and “view cart” buttons. We are inter changeably using the world PayPal to refer to PayPal Standard.It is because it has been the most popular choice for almost a decade. Pay by PayPal account is still one of the popular choices amongst small businesses in Europe and small businesses in North America. Atleast these are the popular options we hear with launch of new wave of payment startups. Most SaaS startups choose Stripe, BraintreePayments, before choosing any other payment gateway provider. ![]()
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