Big Paypal Policy Change

These changes will be a pain in the ass for a lot of merchants. But as cardine mentioned, credit card companies have been allowing disputes of up to 1 year for as long as I can remember. Odds are, if you've ever accepted payments online you've dealt with already. If you haven't yet, it's only a matter of time before you will, no matter how great a product or service you have. Some people are just shitheads. I don't care for PayPal, but this change is reason number 9,999 on the list of the most important reasons why.

Between this and the massive ad campaign they're currently running, I'm guessing PayPal is gearing up for something. Whether that's a new product, expanding their reach, or simply trying to keep pace with competitors is difficult to say. But lately it seems like I can't watch any television without seeing a PayPal commercial, and I honestly can't ever remember seeing a single one before sometime around the end of August or beginning of September.
 


statelizard said:
These changes will be a pain in the ass for a lot of merchants. But as cardine mentioned, credit card companies have been allowing disputes of up to 1 year for as long as I can remember. Odds are, if you've ever accepted payments online you've dealt with already. If you haven't yet, it's only a matter of time before you will, no matter how great a product or service you have. Some people are just shitheads. I don't care for PayPal, but this change is reason number 9,999 on the list of the most important reasons why.
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Isn't it much harder and a higher chance of getting caught doing fraudulent chargebacks on a credit card though?

With Paypal, all you have to do is press a few buttons and you've opened a dispute you are extremely likely to win. On top of that you can buy Paypal accounts cheaply right?

With a credit card, you usually have to call someone up and go through some questions and explain what happened. And it seems much harder to get multiple credit card accounts and seems like a much more serious problem if you get caught.
 
So what are you guys using instead of Paypal these days? I was using 2checkout on a few stores but their fees are pretty high. Any better suggestions? Stripe? Anything else?
 
daseoman said:
So what are you guys using instead of Paypal these days? I was using 2checkout on a few stores but their fees are pretty high. Any better suggestions? Stripe? Anything else?
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I was wondering the same thing, felt like I'd look like a dumbass for asking. Thanks for taking the leap, because I really need to know... Really hoping I don't hear "boycott and bring about change", but I suspect that's what's on the menu. plus a full-on dickroll.
 
daseoman said:
So what are you guys using instead of Paypal these days? I was using 2checkout on a few stores but their fees are pretty high. Any better suggestions? Stripe? Anything else?
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A days back I can remmember lot of payment processing companies busted or modifying thier policy the way which made them unacceptable - I lost money with multicards , lost tons of money with epassporte , lost money with Gcard (this was great product btw) also lost money with 2checkout (but it was my fault as I used the account for high risk biz few times).
I know lot of people having some issues or even accounts frozen with paypal but I never had any issue with them and they are ok for me.
Right now I use paypal , paysitecash.com for CC processing (been using them for like 10 years and they are my # 1) and also sofort for DE , IT , FR , AT clients (fantastic product too).
As for myself I can not imagine working without paypal .....
 
statelizard said:
Between this and the massive ad campaign they're currently running, I'm guessing PayPal is gearing up for something. Whether that's a new product, expanding their reach, or simply trying to keep pace with competitors is difficult to say. But lately it seems like I can't watch any television without seeing a PayPal commercial, and I honestly can't ever remember seeing a single one before sometime around the end of August or beginning of September.
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They are scared shitless of Apple Pay.

paypal.jpeg
 
intent said:
This is the post I've been waiting to see. +rep.
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I had a really slick implementation at the time too... tabs with jquery, CC was the default tab, but buyers could tell a paypal option existed without it being intrusive or using up space.

I think the difference was that people were about to buy, but they didn't have their paypal password with them. Everyone carries their cards with them. Since we didn't close them immediately, they decided to find their paypal password and come back later. Giving them a reason to leave the site was a mistake.

Try to walk away from a mattress shop. They'll stick their foot in your car door to keep you from leaving.

It also doesn't help that paypal markets themself as "the safer easier way to pay." For an average consumer, that creates doubt regarding our in-house credit card processing. So if they have paypal, now the buyer has extra reasons to use it. (extra reasons to leave the site.)
 
cazalla said:
It's called Bitcoin.
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sephiroth said:
Finally someone said it.
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Have either of the two of you replaced an established paypal offering with bitcoin and experienced no volume dropoff? Or has anyone reading this?

Because for all our yammering about Bitcoin on this site, its all been about the stock price and coin mining. I've yet to read that a single person has replaced an established payment method with Bitcoin and not experienced a negative volume impact.

Of course I'd use Bitcoin if:

1) I didn't have to worry about waking up the next day and finding the value of the payment I'd received had crashed 50% in the previous 12 hours, and
2) 90% of my customer base had the slightest idea how to use it.

If this Paypal dumbfuckery isn't a massive test of Bitcoin's efficacy in the real world with real people (instead of zealots), I don't know what is.
 
Kiopa_Matt said:
Although I expect adoption of bitcoin to continue to grow, I doubt bitcoin itself will ever get to the point where you're doing 100s of 1000s of eBook sales with it. As it stands, the bitcoin network can only support about 7 transactions per-second, so nowhere near PayPal's volume.

What I would imagine you're going to see is someone like Coinbase or BitPay becoming the "PayPal of Bitcoin". So you load your account with some funds, and can make instant purchases, same as PayPal.
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As a regular consumer I'd never load funds into something that volatile except for "on the spot" major purchases, which makes buying a pain-in-the-ass-3-step process. But for an ebook or logo or any "impulse buy", which most of us depend on?

I've always thought the value-volatility aspect of Bitcoin (et al) is its biggest weakness from both a consumer and vendor standpoint, and maybe they'll eventually address it. Regardless, there is no solution today.
 
pocketrockets said:
They are scared shitless of Apple Pay.

paypal.jpeg
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This makes me moist.

I'm not at all an Apple fanboy but I'd be fuckin MESMERIZED if they destroyed PayPal. In addition to being a shitty company, I hate PayPal because they really contribute nothing to society, like most financial corporations, except banks and shit at least give out loans which might help people in some way. Paypal does nothing but offer an extremely crappy service and stay #1 in the business just because they have been #1 in the business for a long time.
 
intent said:
As a regular consumer I'd never load funds into something that volatile except for "on the spot" major purchases, which makes buying a pain-in-the-ass-3-step process. But for an ebook or logo or any "impulse buy", which most of us depend on?
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Why not? If you begin to offer bitcoin as a payment method, and get some orders with it, just leave it in bitcoin. When you go to make a purchase, if that vendor accepts bitcoin, then great, pay with it. That money is 100% off the books. Why wouldn't you do it?
 
Kiopa_Matt said:
Why not? If you begin to offer bitcoin as a payment method, and get some orders with it, just leave it in bitcoin. When you go to make a purchase, if that vendor accepts bitcoin, then great, pay with it. That money is 100% off the books. Why wouldn't you do it?
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How should I price my products in terms of Bitcoin? The only answer is the value I expect to extract in a usable currency. I'm running a business, not a stock speculation shop... at some point I'll need capital outside the wildly-gyrating Bitcoin valuation system and have to withdraw. Most businesses need their capital inflow to fund their capital outflow on at least a monthly basis, if not less.

"Just leave it in Bitcoin" only works if everyone is already accepting Bitcoin, which while fantastic in theory is an abject failure in reality. The Prime Movers are fucked, which causes a lack of Prime Movers.

tl/dr: the highlighted bit is the problem.
 
When housewives ask "can I pay with paypal?", you don't have a lot of alternative options if you are selling mass market products. It's different with B2B where you can play like you want.
 
intent said:
As a regular consumer I'd never load funds into something that volatile except for "on the spot" major purchases, which makes buying a pain-in-the-ass-3-step process. But for an ebook or logo or any "impulse buy", which most of us depend on?

I've always thought the value-volatility aspect of Bitcoin (et al) is its biggest weakness from both a consumer and vendor standpoint, and maybe they'll eventually address it. Regardless, there is no solution today.
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I agree with you, there isn't much adoption of BTC by the average person on the street and the large institutions that do use BTC only do so due to slim transaction fees.

It wouldn't hurt to include bitcoin as an additional payment option though.. You could try BitPay, they negate the risk that volatility poses to merchants by processing BTC from customers and sending the merchant the equivalent in USD/GBP etc. Not a bad shout.
 
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