what is paypal ? - Business Wholesale Distributor Products Forum

BW · 11-21-2005, 12:38 AM

paypal is an online payment company, more like a bank and credit card service company.
Paypal is a company under eBay Inc. http://www.ebay.com
however, Paypal is seperated from eBay, ebay can't access to paypal, so basically they are 2 different company.

anyone can add more comment on this post?

01-29-2006, 10:43 AM

Paypal is the best online payment method. It is very trusted, and just that is a sub-company from the all powerful eBay makes it more trusted, at least to me and some friends. I wouldn't pay with anything other than PayPal and maybe StormPay.

01-30-2006, 01:36 PM

Paypal is the most trusted payment money processor on the net, I would surgest use it alot more than E-Gold

E-Gold Always down
Stormpay Quite Good
PayPal THE BEST

Thats by opinons

02-13-2006, 01:06 PM

I am working with paypal about 8 months. Now paypal has an option that a buyer who dosen't have a paypal account also can buy items via shopping cart so it is very good for small business. One of the major problem about paypal is pishing mails. But i am sure experienced users don't read that scam mails.

Repution after buying is also a positive option for it.

02-15-2006, 04:17 AM

I don't really trust paypal at all. You might want to read the following quotes I took from paypalsucks.com

Quote:

1. According to PayPal accepting their ToS (Terms of Service) in effect means you waive your rights to credit card consumer protection laws if you want to use their service, and that you may not issue a chargeback for unauthorized use of your credit card and PayPal account, or if you do, then they have the right to limit your account. Is this legal? We don't know. But it's how Paypal operates. See my credit card waiver page for more information.

2. Their customer service is horrible. They used to hide their telephone number, (intentionally - by their own admission) and only provided support via "form" emails:

"As for the customer service, Sollitto said they intentionally make the phone number very difficult to find in order to save costs."

This is confirmed in the book "PayPal Wars". If you have a problem, you are at their mercy! (And you will eventually have a problem.) The only reason their number can be found now is because they were forced to by law (EFTA Electronic Funds Transaction Act) due to complaints from users of this website. You can also click on our FAQs page. Just scroll down a bit, and you'll find their phone numbers, plus their toll free numbers as well, plus a huge list of unpublished PayPal phone numbers.

3. Their terms of service are not completely disclosed upon signup and some key "conditions" are not disclosed. They fail to mention their total lack of security to prevent your account from being compromised by phishing & spoof sites. That if your account is accessed by a criminal using one of these methods, PayPal will hold YOU monetarily & legally responsible! Also, no place do they openly tell potential members that their money is 100% at risk. That PayPal can, will, and has in the past, completely cleaned out customers' accounts, (including your checking or savings account) with no appeals process available. Instead they bury in the fine print of 37 pages of their "Terms of Service" (ToS) where they disclose to you that PayPal can close your account for any reason what-so-ever, or no reason, and then you have to wait 180 days to get your money. Think that'll never happen? Think again. That's what everyone thinks till it happens to them.

4. If PayPal feels your actions are questionable, PayPal is the investigator, judge, jury and executioner. "Telling your side" of what happened, in most cases seems to be irrelevant. They also refuse to provide you with the details of their investigation and withhold documents they relied upon to make their decisions. Your only contact will be an email that says:

Thank you for contacting PayPal. We apologize for the delay in respondingto your service request.

After review, the decision has been made to keep your account locked. This decision cannot be appealed.

If you have any further questions, please reply to this email.

That will be the end of it as far as PayPal is concerned. You can email back, but you'll just get more of the same. Oh yea, and you'll have to wait 180 days to get your money.

5. If you are a bona fide, up-standing individual with hundreds of successful transactions, but someone pays you with a stolen credit card, your account (by PayPal's own admission) is immediately flagged as being "criminal behavior" and any money in that account is confiscated. If a customer "disputes" the charge, same thing happens. (See email above.) PayPal claims that they will fight chargebacks, but read this before you fall for that one.

6. Paypal's fees for NON-credit card funding are the same as for credit cards! This is the single biggest rippoff on their site. We understand Paypal charging a fee when you fund your account with a credit card. After all, they are being charged by Visa/Mastercard, etc. And we understand there is a lot of fraud with credit card funding. However, most of the money sent within the Paypal system no longer comes from credit card funding. However, money spent from PayPal account to PayPal account is subject to the exact same fees credit card purchases are! This money has been in the system for years and is "clean." That is, there are no fees at all to Paypal, and there is almost no fraud at all with this money, but Paypal charges the SAME fees to transactions with NON-credit card funds! Thus every transaction makes PayPal money, but it's nothing more than an entry in a computer database on their system. No money has actually moved, and there are no costs to Paypal. They are just skimming the gravy

You might also want to check out http://www.paypalwarning.com/ where they have a few paypal horror stories. So far I haven't heard much about stormpay. So I suggest that. the only problem not is mos online shops and advertisers only accept paypal as a method.

02-28-2006, 12:56 AM

According to me, Paypal is trustworthy than any other online payment methods .Some of my friends are getting online payments through Paypal regularly .Acknowledging this I will also open my account in Paypal very soon and take the benefit therein.

02-28-2006, 09:54 AM

I`m looking forward when PayPal will accept the East Eu users:)

03-06-2006, 06:35 AM

Hello Icetray,
Because of some cheaters involved,people loose trust. To avoid this there must be proper checking.

03-06-2006, 10:29 AM

Quote:

Originally Posted by MagnavoX

Hello Icetray,
Because of some cheaters involved,people loose trust. To avoid this there must be proper checking.

For example the biggest problem with StormPay is that they don`t accept Romania. It is ok but they accept 200 other countrys like Albania,Azerbaidjan,Bangladesh,Ethiopia and others.(I think there are only 10 internet users in all country). And WE ,Romania with millions of internet users got banned becouse some stupid guys made 100s of fraud accounts. Where is the truth? ......

BW · 03-06-2006, 02:04 PM

closed