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Why is there this perception? And is it justified?
I run a number of sites, and admittedly the number of products I sell is low. But I do not have the volume of sales to justify the costs of a merchant account, and so I use Paypal for all my sales. I find it absolutely wonderful, easy to use, great for subscriptions and lovely for making new buttons for new products. Never had any problem at all with Paypal, and the client can still pay with credit card any way they like via Paypal.
Am I missing something I should know about...? :-) Should I think more about getting a merchant account?
(If Paypal had a better name rather than "PayPAL", then maybe people would look at it differently?)
this is what its all about, ... some people think that not having a proper merchant account is a bit amateurish - which may put some buyers off. (i'm not so sure)
the functionality of paypal is very good and the fees very competitive.
addad>> bbc1234 you beat me to it!
Customer service kept insisting that it would show up though, and they wouldn't even let me close the account because I didn't have my password...
So you have to take that into account. It's probably an excellent service if you only have American customers.
To understand this, just search for Paypal. After the first 3 or 4 paypal listings, there are all the anti-paypal where you can see some of the issues which have resulted in the numerous class actions against paypal.
Of course, this all needs to be balanced by the positive experiences of the majority of their customers. It seems if you are a merchant, the risk can be reduced by using them for high volume low value transactions, and keep your balance low. As always, buyer beware.
I stayed with them over our merchant account because of the fraud protection (I or any clients never lost a single dollar with PayPal after a mil+ in transactions).
Even with the higher transaction fees, I feel we are money and certainly headache ahead by using PP over a merchant/cc combo.
I doubt many people accurately figure what a merchant account really costs them. Between thet added labor and risk, I just can't pencil it out where a merchant account could be cheaper than PP.
If you run a international PayPal account, the real fees are over 5% if you include the 1% surcharge, and the very unfavorable exchange rate they use.
When they first started, you had to sign up for an account to make a payment. I haven't used it lately, but now I guess you can pay without opening an account
(is that right?)
For the last couple years, I have avoided buying from any site that had PayPal, because I thought I had to go through a lengthy sign-up process, and I didn't want the hassle.
I bet there are a lot of people out there just like me who mistakenly think it's a hassle.