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PayPal is Making a lot of money off of your business.

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gwenpinay

Offshore Agent
I believe PayPal's charges are too high especially for small businesses. Their updated fee schedules, in my opinion, would run many small business out.


In addition, the PayPal conversion rate for withdrawals is considerably less than the going rates XE would quote you at any given time. I understand PayPal includes transaction charges as it does the conversion. If PayPal charges transaction fees just like other banks, shouldn't it also pay interest on balances just like a regular savings or checking account? Doesn't seem fair to me for them not to pay interest on your PayPal balance and still charge you withdrawal fees.
 

Postman

Offshore Agent
You would never find any payment processor that would do the transaction for free so I say that it is just.


If you are not willing to pay these services then why should you go on a business in the first place?
 

gwenpinay

Offshore Agent
Postman said:
You would never find any payment processor that would do the transaction for free so I say that it is just.
If you are not willing to pay these services then why should you go on a business in the first place?
Nowhere in the post did it say that I am unwilling to pay for transaction charges. I was only pointing out the charges are much too high for small businesses. Big difference.
 

megamath

Corporate Services
Business Angel
Must agree, the chargeas by paypal are very high for a small business but on the other hand, you won't find any payment processor that will be able to make it much cheaper.


Visa and MC also need to earn money, they are small companies :D
 

Postman

Offshore Agent
I wasn’t implying that you aren’t willing to pay for some charges. My reply is for anyone reading this thread and not just you. Don’t be offended if this doesn’t concern you.
 

gwenpinay

Offshore Agent
Postman said:
I wasn’t implying that you aren’t willing to pay for some charges. My reply is for anyone reading this thread and not just you. Don’t be offended if this doesn’t concern you.
The thread speaks for itself. Readers who follow the discussion will understand what the subject of the original post is, as well as for the subsequent comment. And just for the record, I don't get offended; I only clarify things.
 

vlada

Offshore Agent
megamath said:
Must agree, the chargeas by paypal are very high for a small business but on the other hand, you won't find any payment processor that will be able to make it much cheaper.
Visa and MC also need to earn money, they are small companies :D
I am agreeing absolutely with your opinion about the charges by PayPal. But I had received the information about AlertPay and I haven't the information about this type of payment. What is your opinion about AlertPay?
 

Zordani

Offshore Agent
Charges are indeed too big for what they're offering. Unfortunately, they don't have any real competition, and so they just do whatever they want without penalty. What else could you possibly do?
 

Postman

Offshore Agent
Zordani said:
Charges are indeed too big for what they're offering. Unfortunately, they don't have any real competition, and so they just do whatever they want without penalty. What else could you possibly do?
The closes competition for them is Google Checkout but I doubt that many will consider on using them because they are not accepting debit card to verify an account. Correct me if I’m wrong.
 

gwenpinay

Offshore Agent
eBay ties up with PayPal and makes online business so easy. A good competition for both businesses should be modeled after their tandem. Meaning they should be able to do what both PayPal and eBay offer. The edge would be additional service features NOT offered by both. That would be a good competitor concept.
 

tongyun

Offshore Agent
PayPal does charge quite a bit for its business users but that's the price you have to pay in order to use them. If customers like using PayPal, are you willing to not use their service, especially if it means driving consumers away? Just an unfortunate part of the price of doing business.
 

uplana

Corporate Services
Mentor Group Gold
I am agree with you. The transaction charges are really high. Ithink the service is best for a buisness person who needs to do large transaction every time. The other thing which worry me is the conversion rate. The currency conversion rate is always lower then the market rate.
 

pluma

Corporate Services
Business Angel
uplana said:
I am agree with you. The transaction charges are really high. Ithink the service is best for a buisness person who needs to do large transaction every time. The other thing which worry me is the conversion rate. The currency conversion rate is always lower then the market rate.
Hi and welcome ;)


The fees are very high, however, many people are using PayPal to pay each other and the fee they charge isn't much more expansive than any other credit card processing company takes even with a direct merchant account by a bank.
 

Machida

Offshore Agent
If you are going to compare PayPal to EPassporte then you will say that PayPal is chargin less for their service. The fees are too high for EPassporte.
 

sanju123

Offshore Agent
Paypal is doing an amazing job over internet-perfect services. To run every thing smoothly and accurately they need to have an immaculate infrastructure and huge amount to support that system. I think they charge genuinely and reasonably.
 

tongyun

Offshore Agent
sanju123 said:
Paypal is doing an amazing job over internet-perfect services. To run every thing smoothly and accurately they need to have an immaculate infrastructure and huge amount to support that system. I think they charge genuinely and reasonably.
Exactly! These things aren't free and don't run on their own. Paypal has an overhead and has to pay for things ranging from staff to electricity. Just like any business they have a right to make money and if you don't like the fees, use someone else.
 

uplana

Corporate Services
Mentor Group Gold
tongyun said:
Exactly! These things aren't free and don't run on their own. Paypal has an overhead and has to pay for things ranging from staff to electricity. Just like any business they have a right to make money and if you don't like the fees, use someone else.
In my viewpoint, Paypal is just like Google. As google is the boss of all search engines, Paypal is always ahead of some other online transactions facilities. Even though it charges a small fee, but the facility and security Paypal offers to its customer's are excellent.
 

andrew25

Offshore Agent
Yes, it is true but sadly there is no good alternative to PayPal when it comes to payment processors. For a small business these fee charges would certainly hurt a lot but on the long tern they would be assured that their PayPal account is safe.
 
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