Paypal sucks compared to Square

thegreenman

thegreenman

I usually process credit cards via Square and usually use the portable card reader. Funds are always deposited into my bank account within 48 hours (usually within 24 hours), even when I key in the card number.  
 
Today I made the mistake of allowing a customer to pay me via PayPal online, which is a completely crappy experience.
 
My issues with Paypal are: 
 
  1.  I had to go to the PayPal website to initiate the funds transfer to my bank, whereas Square does this automatically
  2.  PayPal is telling me it's going to be 3-4 days until the funds transfer to my business account.  Square has never taken longer than 48 hours, even on weekends.  
What Gives?  am I doing something wrong with my Paypal account, or do people generally accept this kind of crappy service even though they are charging a healthy service fee? 
 
 
 
Sort by date Sort by votes
PayPal can be a real pain in the ass. Up until last week, my only two payment methods were PayPal and Google Checkout. PayPal works a lot better if you have a PayPal account plus a PayPal debit card. The funds are immediately available for debit, the only problem is that if a customer files a complaint, PayPal immediately rescinds the funds from your account and you may or may not get a notification. Then as the seller, you have to jump through a bunch of hoops to prove that you did everything correctly and get the money back. Then there are the outrageous fees.
 
Google Checkout was better, but took 2-3 days for payments to clear, and fees weren't much better. Google has decided to shutter the service later this month anyway.
 
I just finally broke down and got an online payment gateway through Authorize.net. I am already shocked at how much cheaper the fees are! 1-2% as opposed to PayPal's 4-5%. Plus you can use their virtual terminal from your smartphone and enter a credit card manually anywhere. It does take 3 days for the payments to clear though, which is a bit of a pain.
 
Upvote 0 Downvote
Since my bank is states away, I use square to transfer myself money to that account from a local bank account haha. It's a hell of a lot faster transferring it on my own through my bank, cheaper too as the local bank charges 20 bucks for wires. 
 
Upvote 0 Downvote
PayPal will allow you to process a $25,000 payment with ZERO issues...I kicked Intuit GoPayment to the curb as well as Square for this reason...processing small everyday payments may be one thing, but when you need to do business on a big level with big hot sauce companies PayPal will be there for you ...try that with another "Processing Company" ;)
 
Carry on :) Just my Dos Pesos!
 
Dale Jr
 
Upvote 0 Downvote
I did a 8000 usd buy with paypal once i had to payfees as the company dident want to use paypal due to the fees. But for me as a buyer it was worth it as they have some "ok" protections. And buyers also look for this. This was a company in China and i dont trust to many of them but with paypal i feelt ok all the way.
 
I also use Paypal in my shops, maybe i could got away a bit cheaper but it saves me a bit of work and also i think buyers trust paypal so its a good option.
//Oscar
 
Upvote 0 Downvote
It's a love/hate with paypal.  Yes, they work pretty much everywhere, sucks to have to wait 3 days for the money to transfer, I use Square at festivals for CC, just because I had it and it was set up on the tablet, And also, everything is set up on my website to work with paypal.  I'm sure I could use another service, but I really don't want to deal with it or have the time to deal with finding another service, setting it up. 
 
And I think the customers have confidence in it.  Also, I can process CC manually through my PP account.  I have a store that pays with a CC.  I don't have the card, just the number, so I key it in.  I've also had customers call to place orders and I can manually key it in.  I think that also works for the Square, but Square is loaded up on my Asus tablet and is only used at festivals.  The rest of the time I'm on my big ol' laptop. 
 
Also, they can be a bitch if there's a question.  I withdraw funds on a regular basis only keeping a couple hundred in the account just for that reason.  If the account gets locked, I'm not out a ton of money.  If I need to make a purchase larger than what I have funds for in PP, I can transfer $ from my bank account back into PP with no hassles.
 
Also, I may not bew remembering this correctly, but on one international purchase, it took a LONG time for the order to arrive (4 weeks, I think)  Normally orders are received within 2 weeks.  Customer filed a complain that they didn't receive the order, and I (think) PP only put a hold on the amount of the order.  But I'm not for sure on that.... 
 
Upvote 0 Downvote
You can use amazon payments now as an alterantive to PayPal. Paypal is terrible, they are notorious for holding large amounts of money and locking your account so they can collect interest on the money first. They will find random reasons and feed you a bunch of bs as to why they are holding it. Its really ridiculous.
 
Upvote 0 Downvote
I detest PayPal - they became my enemy when eBay bought them - which meant eBay was taking two slices of the pie - one on the transaction & another on the payment.

I use square exusively at the FM. I love it. My customers love it. The iPad app is clean and sharp with color pics and an easy cash register.

That said, I use acCC processing service for my website & I'm also set up to accept PayPal. And many many people use PayPal.

PayPal is better for the customer than for the merchant. For a customer it's one trusted source instead of I if your card details to 1,000 vendors. It makes a lot of sense. And because customers want to use it, I accept it.

For mobile payment I prefer square.

For anything over $100 I prefer check, money order or bank transfer. As should anyone who doesn't want to pay a massive commission.
 
Upvote 0 Downvote
You had me at..
 
Lucky Dog Hot Sauce said:
I detest PayPal - 
Click to expand...
 
 
If Pay pal can string out a 4% cut for an extra 24-48 hours, and they can register that in their "bank" value and earn just 2% on the principal in just 24 hours... X a million vendors.... you do the math on their interest profit.
 
Seriously... do the math.
 
Upvote 0 Downvote
You must log in or register to reply here.
Back
Top