posted on November 9, 2000 09:07:34 AM new
I know, I know...one more credit card thread & everyone's gonna expode!...But I could use some help!
Ok, here's the deal....I've been selling on eBay for over 2 years...I have never offered Credit Card payment option & fared pretty well....BUT with eBay sales being down, in order to attract more customers I MUST pick a CC provider & go for it!....Therein lies the problem....WHICH ONE TO PICK?.....I have leaned towards PayPal, lies/deceit aside, they appear to be the easiest/least expensive alternative, HOWEVER, I do NOT want to expose myself (actually my $$) to a company that appears to freeze accounts faster than the jolly green giant freezes peas!!!...So I've been thinking about going with Billpoint, which I realize is more expensive, but who's operating standards seem to be more inline with real world banks (eg. no willy nilly changing of rules, no unexplained/unresponded account meddling)....What's a seller to do????
Please....comment one, comment all!...I promise EVERYONE's vote will count!!!....Let me know which one you use & the pros & cons....
posted on November 9, 2000 09:20:57 AM new
I'm not sure if I'm the lone eagle here, but I have been pretty happy with PayPal. It seems to be the most widely acceptable means of credit card acceptance out of any other companies out there.
In the past, I have had disputes with PayPal but they are resolved to my satisfaction. Another factor why I choose to keep PayPal is that they will be offering merchants a shopping cart. It would be great for me to provide that for my customers. A place they can go to and trust and be familiar with.
I am signed up with BillPoint and PayDirect, but honestly I don't understand the concept. Why does it takes up to 3 days to get the money into my account? Hold until it clears? I like the convenience that money is in my account and I have the ability to choose when to zap the money to my bank account.
I don't know .... it's worked for me so far, even though I've heard nightmares about other PP expereinces.
posted on November 9, 2000 09:59:38 AM new
I to have only used PayPal to my complete approval. I have gone through over $4,000 of transactions w/o a single glitch; not to mention when I transfer $ to my checking account, it has usually been posted to my bank in 2 days, under their 3-5 logo. I have not had a single charge-back or freeze or any hint of a problem, but I do read the proliferation of complaints and digs. I am one of the "not signed up for a BUSINESS ACCOUNT users" so am currently eating away on the $500 limit. I have not decided my course of action once I hit that mark. They have been smooth so far, and the cost seems the best, so ????? Good luck to us all who are facing this decision soon. Any more hints are appreciated.
posted on November 9, 2000 10:52:03 AM new
I like PayPal and I wish all my customers would use it. It's the only service I've tried and so far (knock on wood) I haven't had any problems. I've also signed up for Billpoint in case I need to use it for an international sale, but that hasn't come up yet.
Just to be cautious, though, I don't leave large amounts of funds in my account (and "large" for me is over $100).
Many buyers are familiar and comfortable with PayPal, which is a point in its favor.
posted on November 9, 2000 11:48:05 AM new
I don't know how much business you do, but if it's enough, why not bypass these silly middleman services and get a merchant account?
Do some searching around & compare rates/fees. There are some decent deals out there.
posted on November 9, 2000 12:01:14 PM new
My own experience has been excellent using PayPal and Xcom. I aquire funds sooner than any other service and I can ship sooner leaving less room for error. Good Luck!
posted on November 9, 2000 12:12:14 PM new
I have used Paypal since about May. I used to recommend them highly. I no longer do. As a matter of fact, as of TODAY, I no longer accept Paypal payments at all.
I would recommend Yahoo Paydirect, Exchangepath, Payplace for starters. They are ALL FREE, unlike Paypal. I have been using these alternatives for a little while now and have had several transactions through them with NO PROBLEMS whatsoever. The money has always transferred to my bank account within 3-4 days at the most. I also like the option to "DECLINE" a payment if I want to. If someone sends you the wrong amount through Paypal and then re-sends you more money to make the correct payment amount, you are being charged TWICE through paypal. Has happened to me countless times.
And on top of the already known problems with Paypal, their "partner", X.com, has announced today they are closing ALL accounts. And they are only giving their customers a few weeks notice.
Not a company I choose to do business with any longer. Good riddance to X.com and Paypal as far as I'm concerned!
posted on November 9, 2000 12:19:27 PM newBillpoint
Only problems I've encountered were minor, and a RL person from Billpoint phoned me to take of it. 2 emails & 2 phone calls in one day. No canned answers, no B.S.
Now that's customer service.
Someone above asked:
"Why does it take up to 3 days to get the money into my account?"
Answer from a Billpoint rep.
Billpoint pays you using direct deposit into to the bank account that you specify during
your Billpoint registration. This is the same system used for payroll deposits and social
security deposits. Your payment typically arrives in your bank account three-five
business days after the buyer enters his or her payment information. All of your
payment details are available for you on-line in your Billpoint Deposits & Fees Report,
available from My eBay under the Account tab or from the Billpoint home page at
www.billpoint.com.
Why does it take so long to reach your account? First, Billpoint relies on existing
financial systems to move money. And, as you are probably aware, these systems
operate on business days only. So, when a week-end (or worse yet a holiday
week-end) falls in the middle of your payment schedule, your payment may seem to
take even longer to reach you.
Here's how the payment process breaks down. On Day 0, the cardholder pays your
Billpoint invoice. That night, we send this transaction to our bank partner, Wells Fargo.
On Day 1, Wells Fargo sends the transaction to the appropriate card association (Visa,
MasterCard or Discover). On Day 2, the card association sends our bank partner, Wells
Fargo, all the deposits for all of Wells Fargo's merchant processing clients, including
Billpoint. On Day 3, Billpoint receives its deposit that includes your payment from Wells
Fargo. And the next business day, we send your payment out to you. Depending upon
your bank's processing system, it may take another business day or two to actually
appear as available for withdrawal in your account.
.............................................
Myself, I always ship the same day the customer pays.
Also, to those of you that keep stating the NO ONE pays via Billpoint, that may be true if you offer PayPal, but if that choice/option is removed, I can assure you buyers will use Billpoint.
For myself, approx 75-80% of all high bidders still send me a check or MO via snail mail.
posted on November 9, 2000 12:20:39 PM new
You can count me on the side of Paypal. Not because I want to be, but because they did such a great job of selling themselves (or rather getting us to sell them to our buyers) that no one would use any other method.
Sales drop so I keep coming back. I offer Billpoint and PayDirect but so far (after 6 monts with Billpoint) have had less than 5 people pay through them and hundreds have paid with Paypal.
I haven't had any problems with them, but they could use some lessons in management. I guess I will have to have all money sent to me by check now that x.com is closing my account, and I don't know what becoming unverified will do to me but I would never give them access to my personal bank account!
If this sounds like I don't know if I am for them or against them -- that's because I don't! I just use them because it seems to be the best way to increase sales!
posted on November 9, 2000 01:59:30 PM new
Although I understand that others have had some bad experiences with PayPal, I have not. I opened a business account, and so far, everything seems to work well. It definitely does help get more business and actually pays for itself in time saved.
posted on November 9, 2000 02:07:59 PM new
I've used them both since they've been offered. Both have their advantages & disadvantages.
A couple of things about BillPoint. It's not near as user friendly as PayPal. It's hard to find the "refund" procedures & there's no way to "beam" money to someone for a non-auction payment. The seller can send an invoice for a non-auction payment but the buyer can't just do it easily themselves like with PayPal.
I've had several customers unable to fill out the BillPoint invoice which means I have to take extra time to send invoices. Something I rarely have to do w/PayPal.
But my international customers loved having it when PayPal wasn't "international". If BillPoint would just become more user friendly, it would be an excellent service.
I know there are lots of "free" services out there but what happens when the next "free" service starts to charge. People will close their accounts, move on to the next one & educate their customers on the next place. Customers are going to get tired of trying to sign up for all these "free" places sooner or later just to be able to pay a seller.
posted on November 9, 2000 02:12:50 PM new
ok here is my take on this right now I accept Paypal which works fine never a problem when buyer send payment to the right email address. most buyers who pay with online service paY ME WITH THIS there is a modest fee on this service after you reach $500 in transactions.
I accept Exchange Path for the past two month #1 problem no one choose to use it.
I Accept paydirect #1 problem no one chooses to use this service.
I Accept bill point some people use this service its nice they charge a modest fee.
posted on November 9, 2000 05:31:31 PM new
All these suggestions mentioned require that the buyer create a new account (Paypal, ExchangePath, Paydirect, Payplace, etc.)
I use all of the above mentioned, but also use ProPay. If a buyer wants to pay by credit card, you can send credit card invoice to the buyer. Buyer only needs a credit card -- no need to sign up for anything.
Fees are higher, but in return you have flexibility. You can have an online store and accept credit card payment.
posted on November 9, 2000 05:42:39 PM new
Of the three services I've used so far I rank them.........
#1 Yahoo's Paydirect (it's free for now and I like the accept/decline option)
#2 exchangepath (also free for now, not many buyers have used it yet but so far so good)
#3 Paypal (we won't go there)
I no longer accept paypal at all due to numerous reasons. Still using the other two. My favorite payment system is still money orders then checks, but that's irrelevent to your question
posted on November 9, 2000 05:44:01 PM new
Yes that is right was what I didnt added to my last post since I havent signed up but propay seems it might be on to something since it dont requier buyers to be members for you to take payments.
its real time credit card verification and transaction.
WWW.dman-n-company.com
