Paypal

PAYPAL is one of the small third party processors which allow you to accept credit cards. The first thing to understand is that it is owned by Ebay.Ebay encourages its buyers and sellers to use PAYPAL as a convenient method of payment.

Without the support of Ebay,I doubt that PAYPAL would be used by many of its traders because of the difficulty of setting up an account.

DISADVANTAGES OF PAYPAL

When you sign up for an account, you must go through a verification process. This involves PAYPAL debiting your credit card a small amount and when it appears on your credit card statement, it has a unique four digit code. You then input this code on your PAYPAL site to verify who you are.

However, many people report that these codes never appear on their statements! In addition, you may have to wait up to a month to receive your credit card statement. Who wants to wait this long to set up an account? Isn't the Internet supposed to be fast and convenient?

Another problem is that your customers must register for a PAYPAL account themselves to pay you. This happens often on Ebay. However, many people are unwilling to go through the tortuous process of setting up an account.

Remember on the internet, the easier you make it for your customers to buy from you, the more sales you make.

Other problems with PAYPAL include frozen accounts with thousands of dollars in them.

ADVANTAGES OF PAYPAL

The only two advantages I can think of for PAYPAL users are low transactions fees and the widespread use of PAYPAL on Ebay auctions. This is surprising. However, the promotional power of Ebay must be taken into account here.

ALTERNATIVE TO PAYPAL - 2CHECKOUT.COM

2CHECKOUT is an alternative third party processor which is easy to join and has a good reputation.

Accept 2Checkout Credit Cards within minutes for a low one-time fee and instant set up, Click Here