PayPal is one of the most popular ways to pay for goods online, but the web payments company is slowly seeping out into the real world. Last year saw the launch of PayPal here in the United States and now the service is launching in the United Kingdom.
PayPal Here is designed to offer small business owners the ability to accept all manner of payment forms, be it cards, check, of PayPal. The service is based around a small card reader that plugs into your smartphone and a companion app that runs the software side of things. Now PayPal Here is on its way to the UK, albeit in a slightly different form.
PayPal today announced a new chip and pin reader designed to make it simple for cash-based businesses in countries that use Chip and PIN debit and credit cards to accept other forms of payments. PayPal hasn't announced pricing for the device just yet but plans to show it off at MWC, which kicks off on Monday in Barcelona. Hopefully when pricing is made public, it will also include details on the cut PayPal will be taking from each transaction. Check out PayPal Here below:
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I'm using PayPal since it came out and it is the most safe payment option on the web.
"..hold your money"? What are you talking about?
You're not forced to have money in your PayPal account. You can just register your credit card or bank account and transfer money and you don't need to give your credential to any seller.
I had few times problems with a seller, who didn't send the item and PayPal gave me back my money.
And all this is free. What more do you want?
PayPal is the best thing to have when you buy stuff on the internet.
I use it for all my payment in ebay is the only way that will guarantee to claim your money back. dispute for bad product and if the other party or the seller still want to continue using paypal for business they have to refund or by force from papal if you win the case. I trust paypal I only leave a few hundred buck there for buying and selling as well.
If you're the seller, PP can and will hold your money unlawfully. In most states in the US, paypal is licensed as a money transmitter, nothing more, so when they decide that they're judge and jury on a dispute, they're over-stepping their bounds. When they hold money for longer than 10 days (which is common for sellers without a lot of feedback) in the event of a dispute, they're over-stepping their bounds. When they hold back a rolling 30% slush fund for frequent sellers, they're over-stepping their bounds.
The fact is that paypal is not a bank, they have no oversight like a bank, they have no protection like a bank. They're an additional middleman between customers, service providers and their respective banks and they really don't bring anything to the table besides additional fees an illusion of security for people that don't know any better.
Screwed as in your account is limited. That means all information is frozen, all assets are frozen for 6 months , and you can NOT create another account EVER. Customer support is worse than useless. There is NO problem solving procedure and any decision to limit cannot be appealed. At least with a bank, any problem can be solved somehow. That means, if your business depends on PayPal, You're Really Screwed.
If you never had a probem with PayPal - as many did, then consider yourself lucky.
To be fair, the person that authorized my business account asked me how I was doing. My account was limited for 4 months. After reviewing my emails with customer service, the situation escalated to the local VP of business accounts. I was lucky the situation escalated so high. All that was needed was one document scan and a data field was changed. Now all is smooth.
Paypal is not a good service. I don't know of any other business that is not recognized as an official financial institution but is allowed to lock your account funds virtually indefinitely without having to divulge the explicit reasons for this.
Hell, even suspected criminals have had their finances locked for less time than some legit Paypal users.
People who are excited about paypal should read up on many of the grievances others have written up around the web.
The sooner paypal dies, the better it will be for LEGITIMATE commerce.
I'm a buyer and i use it and i never had a single problem with PayPal in all those years.
If you're a seller, just avoid it if it's such a problem for you, as simple as that.
If it isn't good for you, that doesn't mean it's the same for everyone.