Paypal: are they still the only way to go?

J

JamesCWilson

New member
In recent years many alternatives to Paypal have come on the market, but none have really been a true challenge to Paypal's market dominance.

So, I was just thinking... are Paypal still the most reliable and secure payment system out there, or are they just skidding by on name brand recognition now?

The reason I ask is because Paypal is still seemingly so far in the lead in regards to acceptance, you almost forget there are alternatives out there.

Thoughts anyone?
 
I think PayPal's security is up there with any other online transaction security. We use PayPal but were disappointed when they restricted out account for what they say was 'Unauthorized Use'.
They gave us ZERO warning instead of, 'We believe your account has been accessed by an unauthorized person' and letting US look into it.

Personally, we are looking to drop PayPal because we have already had chargebacks on service we have done. They seem to side on the consumer more than the merchant.

But that has nothing to do with their payment system ..... just their ethics are in question to me.
 
I have never had an issue with Paypal up until this weeks. Service was always good and it did what I needed. Now I find out my second Paypal account was locked up because I was not to have 2 separate business accounts. Well that was a shock to me and something I never knew.

I do not see the reasoning of allowing only one business account. All my payments for my other websites and services aside from X9 go through this account. I want to keep the 2 separate from each other and that is the reasoning for a second business account.

So know I have to deal with a frozen Paypal account. with almost $1000 in there that I can't do a thing with. I guess my option now is to downgrade this second account down to a personal account, but that really annoys me that 2 business accounts are not allowed.
 
If I remember Paypal's policy correctly, each individual can have a personal and a business (premier) account. However, an LLC or corporation is a separate entity and may have it's own account. So in theory, you can have 2 accounts an your business can have it's own.
 
Dev4vip said:
Not really there's lot of other alternatives you know,

2checkout
moneybookers
Worldpay

are just some of the big players in the industry
Click to expand...

I know there's a lot of alternatives out there, but I was referring to how widely accepted they are.

Moneybookers has decent acceptance, but I can't really say the same for 2checkout or Worldpay based off my experiences anyway.
 
JamesCWilson said:
I know there's a lot of alternatives out there, but I was referring to how widely accepted they are.
Click to expand...

When you are talking abt acceptance, PAyPAL has the worst out of all, I hope you are aware that pay pal support only small number of countries, WHile MB and 2Co is global,...

So lets say someone wants to buy from you, and he/she is located in a country that paypal does not support, and you gonna lose the sale just like that,....so merchant wise paypal really sucks
 
Dev4vip said:
When you are talking abt acceptance, PAyPAL has the worst out of all, I hope you are aware that pay pal support only small number of countries, WHile MB and 2Co is global,...

So lets say someone wants to buy from you, and he/she is located in a country that paypal does not support, and you gonna lose the sale just like that,....so merchant wise paypal really sucks
Click to expand...

Yeah, I see what your saying, and it's a good point.

Actually I would say it's a good idea to accept multiple types of payment systems, so that hopefully things can be worked out for people in most countries.

Unfortunately, Paypal seems to be the most prevailing system among stateside companies however.
 
Really, I think they are. Sure, there are several alternatives and many of them have good reputations, but there are so few users (and so few that accept those various methods), that it's hard for them to go very far.
 
Pay pal is only big now a days because of their name in my oppinion. Most people have heard of pay pal and therefor trust them.. At least it seems that way.
 
Oh, I have absolutely no doubt that much of their current success is due to name brand recognition, but none of the other companies seem to have much of that. Paypal was one of the first,so that's probably a big part of it, and also people are used to it and how they operate.
 
So far PayPal has been for us the way to go. My business isn't really functioning beyond the US and Canada so I haven't had to address the issue of countries where it doesn't work. Until I read in here that that could be an issue I was not even aware of it. I would like to expand and for that reason I will look into some of their competitors a little more seriously.
 
Paypal has market penetration and name recognition, as you already stated; so offering Paypal as a payment option can't hurt, especially if you're located in the US. I wouldn't offer them as the only payment option unless your business volume is so low that a merchant account isn't economically feasible; and if I were operating out of Europe or expected a large customer base from there I would look into something like Moneybookers.
 
What you say is VERY true.
Paypal has been dominating the online payment processor business. They have gained good recognition in the past, and the ebay-Paypal relationship has boosted their reputation.

But ofcourse, their TOS might get on our nerves most of the time. But we still dont have a better way yet.
 
We never had problems with PP, although there are plenty of stories about instantly blocked accounts. So be sure to drain your PP account to your banking account regularly.

2Co is just expensive. No problems apart from the kind of weird acceptance policy (you have to mention 2CO as trading party on your website. ..). We are looking into Moneybookers, but i find it hard to decide on the right gateway.
 
Although Paypal is the leading payment processor today, I honestly think that there will come a time that it will be surpassed by another payment processing company. The problem with paypal is that there are countries that are not serviceable by paypal. If paypal will open its doors to almost all countries in the world, then they definitely will hold the lead of payment processors.
 
Most people I know with PP issues are ones that got phishes. Worldcom I have heard a story like yours below, sorry for that. The one issue I had with PP someones wanted a charge back for services and PP laughed at the guy and told him know since he did indeed use the services and he doesnt get things in life for free. :D
 
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