QUOTE(Paul @ Jun 4 2006, 05:42 PM)
I agree! It is very important to have a reliable merchant account (Credit-card processor). This is important for both the buyer and the seller. Some buyers don't buy online products just because they do not trust the processor or due to a bad experience with a payment processor. It is imperative that a business has more than one credit card processor for two main reasons:
1. To ensure that there is a backup processor in case one fails, and
2. To ensure that the buyer's reason for not buying is not the credit-card processors issues.
If you are a seller of digital products, it is important to have a dependable ecommerce system that can deliver the product with maximum efficiency and minimum manpower. Customers begin to worry if they do not receive digital products immediately!
From personal experience, I think that PayPal is a good payment processor, merchant account and ecommerce system. Although there have been a lot of controversy surrounding PayPal (from sites like
http://www.paypalsucks.com), I've never had ANY problems with PayPal and I would recommend PayPal 100% to anyone .
There are also other alternatives like e-Gold, StormPay, 2Checkout and ClickBank that offer similar services, but PayPal seems to be the most used and trusted (probably due to eBay's influence )
i don't think paypal is trusted. i think people just don't know any better. paypal made it easy for people to obtain merchant services online, what....10 years ago? they were never a stable company and they never had a good reputation. what they had was a service nobody else was offering. this made them popular. they are popular still today because people don't know any better.
i have personally had problems with paypal when i first opened 1 account with them about 7 years ago, and another seperate problem with another account about 6 months ago. i thought i would trust paypal since times have changed and they weren't a baby company anymore that should have learned from past mistakes and experiences to keep their customers happy. in the past, they customer support was for crap. they would suspend your account and you couldn't call anyone up live to talk to about it. now they have customer support on the phone, but they are trained to be lemmings and not able to think for their own selves.
recently my account got suspened because i was red flagged for some reason. probably because i moved. i was a verified member through my bank account AND credit account. i have done everything in my power to give them what they asked for security measures and now i have given up. i will NOT release any more personal information with paypal....EVER!
now trust me when i say this. i talked to someone who told me specifically that paypal will red flag accounts randomly. pay pal will NOT give a warning when they suspend your account even when they don't have any good cause to do this except for security measures to ensure accounts are updated. they will FREEZE your account. you will NOT be able to withdraw ANY money from your account. this somebody was someone who worked for paypal. a customer service rep. they send me emails threatening to close my account if i don't conform to what they want. one thing i refused to do was to let them charge my credit card just to see if it was valid. they told me what they charge will be deposited in my paypal account. i told them no. if you want to charge my account, you can credit my credit card account. they refuse and i refuse to do any more business with them after they already have all my business information. so they repeadedly send me emails, SCARE tactics to close my account if i don't comply to their security measures. well, i am waiting for that day so i can take them to court for the balance of my account and for business lost for bad business practices on paypals end.
now TRUST ME PEOPLE when i say that they can and WILL FREEZE ACCOUNTS randomly WITHOUT WARNING. with the measures they take, it takes about 1 week to unfreeze your account. they want to verify your phone which can be done automatically and quickly. they want to verify your address which takes time for them to mail something to you with a code you have to enter on their site. then they want you to enter your credit card info(if you haven't given it to them already) to charge it(that's when i had a problem).
now i am no newbie on the net. i've known so many other people who have had problems with paypal and lost money with them which i wont get in to. i just wanted to share my experience. anyone who thinks they will never have a problem with paypal is fooling themselves. they might not have had a problem yet, but don't take on the thinking "it will never happen to me"
my advice to ANYONE wanting merchant services is to pay the low fees for TRUE merchant services. even if you only make enough right now to cover the statement feeand the gateway fee, it's worth it for peace of mind. these fees vary, but on the cheaper level, i would say you can get these services(which are better than paypal) for less than $40 a month. if you're making less than that then heck, go with paypal. you wont miss the money they take from ya when they freeze your account. remember, there isn't a price tag on peace of mind. i wasted HOURS to get my problem resolved with paypal and they have let me down. i'm not the only one. i'm sure they have 1000's of disgruntled customers that will never do business with them....EVER. in fact, i know so. with these #'s, why does anyone think they are trusted? their bad rep is still floating around all over the net. WHY IS THIS??? you don't see other big companies with uch a high disatisfaction rating with their customer base. paypal isn't trusted. paypal's name is widely known as a cheap gateway for merchant services and people don't know any better and too lazy to do their research for a better alternative.
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Jul 24, 2008
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