Should PayPal be the only payment system?

Should PayPal be the only payment system?

Discussion in 'E-Commerce & Payment Systems' started by David Ewen, Jul 1, 2015.

  1. David Ewen

    David Ewen Member

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    Should PayPal be the only payment system? Are there other forms of acceptable payment forms that can be used internationally?
     
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  2. Hostlumina

    Hostlumina Active Member

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    Having one payment processor would be the worse thing ever as it would just create a monopoly not giving any opportunity for competition in which customers can benefit greatly from.

    There a ton of payment processors that can be used internationally
    - 2checkout
    - stripe
    - authorize.net
    - bitpay
    - securepay
    etc....


    @David Ewen What are you thoughts if PayPal was the only payment processor?
     
  3. shilpa

    shilpa Member

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    PayPal doesn't work for all countries. So it's better to include other payment options such as direct deposit, wire transfers, moneygram, western Union, and payoneer, payza, and the like. Here, bitcoin payment system seems to be a more appropriate option. It's universal (almost), and anyone can send payments anywhere around the globe.
     
  4. cmarkcsco

    cmarkcsco New Member

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    Having only Paypal as a payment option would limit the amount of customers who would buy from your site.
    A good investment to do is to "glocalize" your business. This just means Globally Localize your brand so that other countries can buy from you.

    In my country, Cash-On-Delivery is the norm while Paypal is uncommon. Websites like Lazada have learned to integrate this service and thus, have been popular in their trade.
     
  5. alexanderzx360

    alexanderzx360 New Member

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    Good question, and my answer is definitely no

    Paypal has some policies that really make receiving and giving money a bit hard. For example, it won't receive payment for a great amount of webpages specialized in freelancing and making money online. Also depending where you live it has a higher comission, for example in Latin America, the comission per transaction is 5.4%, which is double as the United States.

    Having several payment sites alternatives is great for customers, since it also creates a competition between them of which one's most secure, has the best rates and many other posibilities.

    Cheers
     
  6. PenguinManiac

    PenguinManiac Member

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    It's never a good idea to leave monopoly to a single company. It would give it all the freedom it needs to impose its own rates or change policies as they will, for instance. There must be competitionz even though it's hard to find any suitable competitors right now.
    Besides, PayPal is not perfect, although some of its flaws are due to other needs: for example, it's impossible to keep anonymity when making a transaction, but this was done to ensure security. Other payment processing companies could opt for an opposite strategy, for instance. That wouldn't be possible with no competition.
     
  7. vinaya

    vinaya Member

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    The answer is NO
    reason: Paypal is not available everywhere
    Solution: since paypal is not available everywhere you will have to offer multiple payment options. payoneer and payza are available in the countries where paypal is not accepted. Bitcoin is also a popular payment option.
     
  8. Tania997

    Tania997 New Member

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    It would create a useless monopoly and only bring trouble for everyone, especially the country where it isn't supported. They would be basically cut off from buying anything online. Payza and bitcoin are a decent paying option, even if bitcoin is under the lights lately. I think it has something to do with what happens on the deep web and the fact they say it's untraceable. I actually like the fact that it's impossible to be anonymous so scammers will have a hard time scamming.
     
  9. Lee Ann Hargrave

    Lee Ann Hargrave New Member

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    I am a bit disenchanted with PayPal. I had an account for years and when I started working for one of my freelancing sites, I got paid from them once but after that, it wouldn't post to my account. After many weeks of trying to work with PayPal customer service to be able to receive payments again, they said that it was their security system that was blocking me and they could do nothing about it. I closed that account and opened a new one which has wrought a new problem, my money is on hold for 21 days since they think I am a new customer. I tried to communicate this to customer service but no results yet. I am currently getting my payments through ClearXChange which goes directly into my bank account - cuts wait time in half.
     
  10. PedroP

    PedroP Member

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    Personally, I find PayPal great because it's one of the only methods that allow me to transfer money directly to my bank account in Brazil. Still, I have agreed that there are some issues with the taxes they charge and the time refunds take to be processed.
     
  11. luispas

    luispas New Member

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    I would love to say yes, but I know that there are a lot of people who rather to use another payment system or method. For me, it's better Paypal because it's so simple, the platform looks really smooth, it's really secure and you have access to so many great things and places or websites to buy your stuff. Those are my reasons to say that Paypal should be the only one, but saying that everyone must use it will be very selfish.
     
  12. PedroP

    PedroP Member

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    Yes, it's the one I like the most also bro. Still the same way PayPal is the easiest method for me (And maybe for you too) others might work better for other people.
     
  13. joehue

    joehue New Member

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    Those payment systems go by offer an demand, if a country isn't open for online business, they just discard it completely, another thing is payment systems and local banks, they have to be friends in order to withdraw, in my country, there is two options, one is expensive, the other is not so bad, but having one choice is a scary idea.
     
  14. luispas

    luispas New Member

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    That's great, and yes, it's the best method for me too. If I'm right you're from Brazil, it's very useful for you, you can have it faster on your bank account :) But for me it's a bit more difficult, our bank doesn't allowed us to have dollars, so I have to find someone who wants to buy my Paypal money, the great thing is that the price it's really high.
     
  15. PedroP

    PedroP Member

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    Oh yes, I am! Glad you remembered ;) The price is not bad here either. 1 dollar = 3 reais (National currency) It's a good deal because even though working online is hard, the threshold price usually compensates the hardships.
    PS: Did you manage to buy that new PC? ;)
     
  16. augusta

    augusta Member

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    This is one of the problem affecting my involvement in most online tasks. The payment processor is normally PayPal and it sad because PayPal doesn't accepts all countries.

    I think a more flexible payment source which be used by all freelancing site.This will go along way to encourage others to participant in online marketing and tasks.
     
  17. King78

    King78 New Member

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    PayPal is good but it should not be the only option as PayPal has not supported many countries yet. It is good to include at least Wire Transfer and Direct Deposit to your payment methods. There are also many other payment systems like Western Union and Skrill which you can use if you think your customers are comfortable and happy with them.