Are you a small online company looking for a way to accept payments from your customers?
Many online startups have a hard time finding a reliable safe way to accept payments from their customers online, so they end up settling for Pay Pal.
Pay Pal has it’s foothold in the small business market, but there’s a few things you need to understand before you decide if this is the only payment method you want to offer to your customers:
- When the only payment solution you have is Pay Pal, may potential customers don’t think you are a solid enough company. Customers like choice and many people online don’t like paying with Pay Pal, as they’ve had negative experiences with them.
- Pay Pal says you can pay without signing up, but don’t be fooled, Pay Pal keeps track of EVERYONE via their e-mail address, name, banking information, etc.
- Pay Pal has a reputation of seizing some company’s money for several months. Even if this hasn’t happened to you today, you never know when it may happen.
We often see new posts cropping up all the time where a company has lost all its money because of something Pay Pal thinks they have done.
- Pay Pal has been hit with two class action law suits in the millions. The most recent one in 2016 which is still in the process of settling.
- Pay Pal is NOT regulated by anyone because they aren’t a bank. This is why they can get away with the things they get away with.
We aren’t saying don’t offer Pay Pal as a payment method, what we are saying is give customers a choice by using their credit cards to pay via a real merchant account.
Also don’t put your eggs all into one basket. Pay Pal’s service fees may be less, but at least you know that your merchant account can’t just be closed down unless you are getting a lot of chargebacks. With Pay Pal, it could take only one chargeback and Pay Pal’s whim to decide to freeze your account.
Depending on your monthly volume, we may be able to get you a merchant account. You can start by clicking here for our pre-application.
Professional businesses only please