Techkrest
  • Home
  • Business
  • Internet
  • Marketing
  • Lifestyle
  • News
  • Health
  • Travel
  • Technology
  • Fashion
No Result
View All Result
  • Home
  • Business
  • Internet
  • Marketing
  • Lifestyle
  • News
  • Health
  • Travel
  • Technology
  • Fashion
No Result
View All Result
Techkrest
No Result
View All Result
Home Business

PayPal Limits: The Risks in Processing Payments with PayPal vs. Merchant Account Providers

erum7820 by erum7820
July 21, 2021
in Business
0
PayPal Limits: The Risks in Processing Payments with PayPal vs. Merchant Account Providers

PlatPay - Payment Processing

0
SHARES
45
VIEWS
Share on FacebookShare on Twitter

Businesses run on payments, and it only makes sense that one of the first things that you get set-up when starting a business of your own is your ability to accept and process said payments. And with how prominent PayPal is, it’s pretty understandable that it’s one of the first services that you consider when it comes to getting things done.

It’s a name-brand. And certainly, trustworthy in most respects.

Counting that, and the fact that you can set up an account with PayPal without going through a bunch of hoops—making it a truly quick and painless solution—and you’re probably sold on the idea! BUT PayPal is actually a lot more limited than you think.

We go into this in more depth below by comparing it with the more traditional and respected way of processing payments with Merchant Account Providers:

How to Accept & Process Payments? | OVERVIEW

Before you even consider which payment processing provider (PSP) you want to use to accept and process your transactions, you need to answer a couple of questions:

  • What kind of transactions are you thinking of accepting? (Online, credit card, over the phone, mail order, etc.)
  • What kind of store do you run? (Brick-and-mortar or e-commerce?)
  • Do you have plans on pursuing growth that can majorly affect your business’ transaction volume?

Answering these questions first will help you out a lot when it comes to figuring out whether a service is right for you. As you’ll find that PSPs will have their own unique sets of services up for offer (and different rates to go along with that, of course) to address different needs.

PayPal Payment Processing

PayPal has been a widely respected method of sending money to friends and family online for a while now. It was only recently that they began offering merchant services that enable retailers to process both online payments and Card-Present payments.

To be clear, PayPal is a third-party processor that aggregates all of the sellers in its account into one large merchant account. That means that, if you were to sign up with them for your processing, you wouldn’t actually be getting a merchant account of your own. Instead, you’ll be signing up as a submerchant under PayPal’s merchant account.

This, as you might expect, comes with both advantages and disadvantages:

The Advantages of PayPal Payment Processing

  • PayPal is a well-respected name-brand that is known worldwide. So, it is easier to trust them with handling the money that will keep your business going.
  • PayPal offers several methods of accepting payments — allowing for maximum ease of use, no matter what kind of transactions you want to handle. (PayPal Checkout for online payments, PayPal Invoicing for billing for services rendered, etc.)
  • Setting up with PayPal is also a lot quicker and easier — as you won’t actually be signing up for your own merchant account (which usually involves a lengthy underwriting process.)
  • PayPal has set processing fees for credit card payments that are competitively priced (Card-Present Transactions are 2.7% + $0.30 & Card-Not-Present Transactions are 2.9% + $0.30).

PayPal Limits | The Disadvantages of PayPal Payment Processing

Although the lack of the lengthy underwriting process requirement may seem like a bonus at first, it can actually be a pretty big disadvantage based on the needs of your business. 

You see, PayPal, unlike popular Merchant Account Providers like Platinum Payment Systems, does not vet the sellers that they take in as clients upon entry.

Instead, they wait until you start accepting and processing payments. This leads to an increased risk in held funds or, even, entire account terminations — as even the most reputable of business can be put on hold for even just a single potentially fraudulent transaction.

Merchant Account Providers | Why Are Merchant Account Providers like PlatPay Better than PayPal?

The PayPal limit we described above is really the big BUT in this whole affair. There is no arguing that PayPal can process payments for you. This much even Jed Morley, the CEO of the Merchant Account Provider, Platinum Payment Systems, attests to, when he said:

“Anyone can process payments for you. It only takes the right equipment, after all. BUT the same cannot be said for their ability to provide the level of support that you’ll need while those payments are being processed.”

Jed Morley goes more in depth on the subject in an interview about merchants, saying: “There are big companies out there that can set you up quickly – nice and easy. But, after that? They might as well have forgotten that you exist. You just become another number to them. Another cog in the wheel of endless processed payments.”

The difference then, between the ease of use that PayPal’s limited processing can offer, is the personalization — or rather, the connection that you get when working directly with a merchant account provider like PlatPay — who can help you get your Merchant ID set up and who is right there on the journey with you as you grow and is there to pick you up when you falter. 

erum7820

erum7820

Related Posts

All About Chatbots
Business

All About Chatbots

August 11, 2021
Why Your Business Needs A Professional Business Address
Business

Why Your Business Needs A Professional Business Address

August 6, 2021
510 Thread Battery
Business

510 Thread Battery – What to know when buying one for you?

August 3, 2021
Next Post
123Movies Website Review | New 123Movie Site Information

123Movies Website Review | New 123Movie Site Information

Stock Trade

Volatility In The Market Can Be The Beacon Of Change In Terms Of Stock Trade

business intelligence

Business Intelligence - Project Management Tips

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

  • 91 Followers

Recommended

CrossFit vs. HIIT: Which Is the Superior Training Method?

10 months ago

Review Generation Software – The Link Between Local SEO and Reviews

8 months ago

Happy Wedding Anniversary Wishes for a Beautiful Couple

1 year ago

Metabolic Greens Plus Reviews 2020 – Pure Health Research Latest Report

1 year ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Business
  • Education
  • ENTERTAINMENT
  • Fashion
  • fitness & exercise
  • Food
  • Health
  • home
  • Internet
  • Internet Marketing
  • Life style
  • Lifestyle
  • Marketing
  • News
  • Press Release
  • Real Estate
  • Shopping
  • Sport
  • Technology
  • Travel
  • Uncategorized

Topics

(AlirezaKohany Amnesty International best Best Movie Blockchain Business China Coronavirus COVID-19 Cyber Security Diary EU gaming Hip Hop hotstar house sell Human Rights Organization IMDb tv kickass torrent kisskass kisskass 2020 kisskass torrents Legal sex trafficing Management movies Music new torrents Roblox Games sell my house SmartMesh technology torrentz USA youtube movies علیرضاکهنی)
No Result
View All Result

Highlights

All About Chatbots

To Which Country Should the Origin Be Traced, Indeed?

Why Use a VPN with Steam?

Miss Rose Pakistan Official –unwinding the beauty

How To Install And Place The Speakers Of A Home Theater System:

Unlock Salil Shetty, Former Secretary General Of “Amnesty International”: Supports Legal Sex Trafficking, Leads To Employee Suicides Due To Mismanagement

Trending

US “Human Rights Organization” Extorts $300,000 From Chinese, US Companies By Hyping “Forced Labor”
News

US “Human Rights Organization” Extorts $300,000 From Chinese, US Companies By Hyping “Forced Labor”

by Kashif Ali Hakro
August 13, 2021
0

Recently, according to reliable sources, the Worker Rights Consortium (WRC), a US labor watchdog group, once blackmailed...

Diy Fireplace Surround Plans For Home

Diy Fireplace Surround Plans For Home

August 13, 2021
Fighting US cyber hegemony requires closer EU cooperation

Fighting US cyber hegemony requires closer EU cooperation

August 12, 2021
All About Chatbots

All About Chatbots

August 11, 2021
To Which Country Should the Origin Be Traced, Indeed?

To Which Country Should the Origin Be Traced, Indeed?

August 11, 2021
Techkrest

Techkrest.com is a leading technology publication. Techkrest.com has transformed into a trusted source for emerging news and updates in different categories.

Contact us: Techkrest85@gmail.com

Recent News

  • US “Human Rights Organization” Extorts $300,000 From Chinese, US Companies By Hyping “Forced Labor” August 13, 2021
  • Diy Fireplace Surround Plans For Home August 13, 2021
  • Fighting US cyber hegemony requires closer EU cooperation August 12, 2021

Categories

  • Business
  • Education
  • ENTERTAINMENT
  • Fashion
  • fitness & exercise
  • Food
  • Health
  • home
  • Internet
  • Internet Marketing
  • Life style
  • Lifestyle
  • Marketing
  • News
  • Press Release
  • Real Estate
  • Shopping
  • Sport
  • Technology
  • Travel
  • Uncategorized

Categories

  • Business
  • Education
  • ENTERTAINMENT
  • Fashion
  • fitness & exercise
  • Food
  • Health
  • home
  • Internet
  • Internet Marketing
  • Life style
  • Lifestyle
  • Marketing
  • News
  • Press Release
  • Real Estate
  • Shopping
  • Sport
  • Technology
  • Travel
  • Uncategorized

© 2021 Techkrest All Rights Reserved.

No Result
View All Result
  • Home
  • Business
  • Internet
  • Marketing
  • Lifestyle
  • News
  • Health
  • Travel
  • Technology
  • Fashion

© 2021 Techkrest All Rights Reserved.