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Old 27th February 2006, 11:25 PM   #11
Robert
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Hi mikelada,

Great posts providing a view from the other side. Thank you.

I will have to strongly disagree with this though:

Quote:
as far as paypal...if you have more than a couple thousand dollars in credit card sales a month i would stay clear from paypal..... if you havent seen it yet check out www.paypalsucks.com ....
It's not 1999 so it's time to put paypalsucks.com to rest. I strongly recommend that everyone ignore that site. It's a joke. It reminds me a lot of the sites that pop up complaining that they didn't do anything wrong but got dumped from AdSense.

PayPal is an exceptional company that has made it possible for the smallest of companies to get involved in online commerce.

We do thousands a month through PayPal and have had zero problems. We've been using PayPal for about 5 years now. In fact, the one time I needed to contact PayPal about a stolen debit card, I called and had everything taken care of in about 20 minutes.

I encourage everyone to take some time and register at webmasterworld.com and see what the owner, Brett Tabke, has to say about PayPal. Webmasterworld.com does volume most of us can only dream about. Here is what Brett has to say about PayPal:

"It is the best company I have ever worked with in 25 years of business. Their product is rock solid, reliable, and trusted. My only regret is that I didn't buy any stock."

You can find it in this thread:

http://www.webmasterworld.com/forum22/4858.htm

I use this as an example because Brett isn't known for throwing around compliments.

Also, go over to ebay and look at the zillion+ small businesses and private individuals that use PayPal. As with any company, when you have that many customers you are going to end up with some that are unhappy.

If anyone wants some insight into the problems PayPal had and its history, I suggest you read:

The PayPal Wars: Battles with eBay, the Media, the Mafia, and the Rest of Planet Earth

Also, we have Paul Martin (a former PayPal employee) as a member here and we can always tap into his experiences.

PayPal isn't the perfect solution for everyone and there are plenty of excellent merchant services to choose from. There are plenty of honest folks in the industry and, as mikelada points out, it's essential to do your homework ahead of time.

Thanks again for your contributions to the thread, mikelada. Keep it coming.

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Old 28th February 2006, 12:09 AM   #12
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Hey, Paul here. To further Robert's point about PayPal, I would like to point out that the Secret Service (who of course is charged with handling high-level currency fraud, including credit-card fraud) has been working very closely with PayPal since 2001 because PayPal has developed methods for fighting fraud that were a generation beyond anything the "big boys" like Wells Fargo, Bank of America, or Citi had ever put on the table. There was a great spread in Newsweek on the PayPal/Secret Service collaboration several years ago on this point.

Yes, occasionally the funds in honest businesspeople's account are *temporarily* frozen. But this is always because something truly suspicious has occurred involving the account. 95% of the time there is a good explanation for the transaction in question, and the funds are promptly released. The other 5% of the time, something bad has gone down, and thank goodness PayPal caught it.

Merchants using PayPal suffer the lowest rate of successful chargebacks in the industry. In the past year I have personally received a number of attempted chargebacks by customers buying pricey items and wanting to get them for free (85% of all credit card fraud is buyers who charge-back falsely), but in each case PayPal either successfully fought the chargeback or covered the loss themselves under their Seller Protection Policy (which coincidentally, I had a small hand in creating).

And by the way, nobody should believe anything they read on a website with the word "sucks" in its name.

- Paul

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Old 28th February 2006, 02:40 PM   #13
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Hi Everyone, and thanks for the interesting content.

I've used PayPal for about a year now.

Can anyone tell me the advantages to joining their merchant account program at $20 a month. Is it an online tool? Do you do the collecting of the credit card number and then get on your computer to plug it in? Or is a bill sent to anyone's email and they have to get on and plug it in.

I'm looking for someway of handling credit cards that do not require my guests to be a paypal member, if they are great, but many are not. Some don't even have email addresses.

Some folks I know say that Costco has a great merchant account program. Figures, I'm a BJs member and have no Costco near me... Just thought I would pass it on.

Robin

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Old 28th February 2006, 03:21 PM   #14
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With the $20 program, Paypal let's you use their Virtual Terminal service. It's where you can type in the customers info to charge their credit card. Another benefit is that their API for accepting credit cards from your web site is free. I've been with other providers that make you pay a licensing fee. Another cool thing about PayPal...you can turn your account into a money market account! Your money can be gaining interest while it's sitting in your account. *****I'm not any kind of expert on investing, so take my advice for what it is worth*****

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Old 28th February 2006, 03:44 PM   #15
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Thanks that does explain things to me.

Another question!

Each time someone pays me on PayPal, I transfer that money to my personal bank account. Granted the payments are always in the hundred dollar range.

But why would someone have tons of money sitting in their PayPal account? In the case where someone mentioned an account freeze and losing access to funds.

What are you really talking about here?

Robin

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Old 28th February 2006, 10:20 PM   #16
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with a merchant account you link your gateway (authorize.net, verisign, linkpoint) to your shopping cart...when your customer hits the checkout button it takes them to a secure page where they input their credit card info and address..its called real time processing...also with the gateways you get the virtual terminal where you can get your customers credit card info and input it yourself..it works either way...with a merchant account your funds are deposited directly into your bank account 48 hours after the transaction takes place...if you want more info email me. i have some articles about how to prevent chargebacks and a some other useful information if you are serious about opening a merchant account it will really help you out

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Old 28th February 2006, 10:46 PM   #17
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Quote:
Originally Posted by RobinClapp
But why would someone have tons of money sitting in their PayPal account? In the case where someone mentioned an account freeze and losing access to funds.
With the PayPal debit card you earn 1.5% on all purchases. This isn't an end of the year payout, this is immediate. The debit card will work any place Visa/Mastercard are accepted.

So, keeping money in PayPal and flowing out through the debit card provides an immediate 1.5% return. Nothing like a 1.5% "discount" on web hosting bills, advertising costs, airplane tickets and travel expenses, office supplies, computers, utilities, cell phone service, etc.

For quite a long time I would immediately move money out of PayPal into our bank account. I no longer do that but I do still keep a good percentage of cash in the bank because I don't like to have all my eggs in one basket.

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Old 1st March 2006, 08:43 AM   #18
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I keep money there because of the money market account. Their money market yield is 4.48%...that's good stuff.

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Old 5th March 2006, 02:06 PM   #19
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http://www.aboutpaypal.com/

http://www.bit-tech.net/news/2005/09...ngawful_paypal

http://www.theinquirer.net/?article=16589

http://www.vendio.com/mesg/read.html?num=47&thread=9989

http://www.sumcomputers.com/nomorepaypal.htm

http://www.paypalwarning.com/Alternatives

here are some links to a few sites talking about paypal and how they have frozen peoples accounts and all of there other issues....i have seen a couple of people who post on here posting on other boards...basically a big sales pitch for paypal...more than likely they are affilates of paypal and make money when people sign up through them...we do the same thing with my company...isnt that right friese...so how much do you make for referring people over to paypal i have seen you on several forum boards..no one would be talking about a company like that all over the place unless there was something in it for them...i thought these kinds of boards were to help people out not to prospect business for yourself...not to mention one post i read from you that took all the information i put in this thread..paraphrased it...and posted it on other boards..making the information favor paypal instead of what i actually said..you can tell by that post you know nothing about the merchant service industry...you said price was the main factor in picking a merchant provider...say that to anyone who has worked in this industry for at least a year and they will laugh at you and probably tell you to go find a better price then and suffer from your own stupidity....sorry people i am not in a very good mood i have had alot of stuff going on in my life right now but when i read this guy's post it made me furious..i thought i saved it in my favorites but i did not so let me find it and i will post the link so all of you can see what i am talking about

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Old 5th March 2006, 03:09 PM   #20
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Thanks for providing the links. The point I think may be missed is the fact that there are no perfect companies and everyone will eventually end up with customers that have a beef with them.

Go look for sites complaining about Google's AdSense program and how Google closed their accounts without paying them. Yikes! After reading some of those sites you will come away with the impression that Google is an evil monster out to screw the little guy out of money. The problem is, we are only getting one side of the story. Are there cases where Google messed up and an innocent party suffered from Google's attempt to keep the system as fraud-free as possible? I'm sure there are. But, overall Google is doing its best to combat fraud and reward honest publishers. The same holds true for PayPal.

Quote:
....i have seen a couple of people who post on here posting on other boards...basically a big sales pitch for paypal...more than likely they are affilates of paypal and make money when people sign up through them...
Maybe they are and maybe they aren't. Who knows? One thing I do know is no one is running affiliate links to PayPal in their posts here.

You're insinuation that no one would be touting the virtues of PayPal if they weren't getting paid simply is not true. I talk about the benefits of PayPal and I'm not getting paid.

Quote:
we do the same thing with my company...isnt that right friese...so how much do you make for referring people over to paypal i have seen you on several forum boards..
I have no idea if friese is a PayPal affiliate or not. If he is, I hope he is making a ton from the program. As I've already pointed out, he isn't running any affiliate links here though.


Quote:
no one would be talking about a company like that all over the place unless there was something in it for them...
That's not true at all. I'm probably the biggest cheerleader for PayPal you will find and I'll be the first to come to their defense in this or any other forum I'm involved with. What's in it for me? Money? Nope, I've never earned a cent as a PayPal affiliate.

The reason I do it is because I really believe that PayPal has a system in place that allows the absolute smallest business to compete. With PayPal there are not minimum monthly fees, no sign up fee that I can recall, etc. That is a system that is small business friendly. I know this from first hand experience.

But, I'm also not going to say they are a perfect company. They have their faults as does every company on the planet. There are tons of other merchant service providers that I'm sure provide great service to their customers. PayPal has provided great service for us.

Quote:
i thought these kinds of boards were to help people out not to prospect business for yourself...
No one is prospecting for PayPal business here.

Quote:
....sorry people i am not in a very good mood i have had alot of stuff going on in my life right now but when i read this guy's post it made me furious.
Hey that's cool. We all have rough times and get steamed. Part of being human. But, we need to be really careful not to let this become a personal argument in this thread. There are likely things that would best be handled via email directly.

I do want to be sure you understand that people, such as myself, who are touting the benefits of PayPal are doing it because we believe it is a good service we want to share with fellow members.

I also think everyone needs to do their homework and look at other merchant providers and choose the service that is best for them. This is where your posts are beneficial Mike because you can help educate us on what to look for and what to look out for in the merchant service industry.



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