[dazzabling]

Looks like PayPal is coming out with their own credit card reader. Its called the PayPal Here. You need to sign up to be notified when its available.

https://www.paypal.com/us/webapps/m...11270340128&mpch=ads&mplx=3484-98128-2056-492

 

[idonaldson]

That is great, but I hope they can find a faster way to get the money to you. I understand they hold the money to make the interest on it, but Square shows up in your account sooner. With PayPal you have to withdraw your money from them. SMH

 

[dazzabling]

Do you have a PayPal debit card? Its free, when you put in your website information stating you use PayPal you earn cash back on your debit card purchases. I think the only instance is had with money being held was because of a low eBay score but other than money is available instantly.

Look into getting a business paypal account, more advantages over a personal account.

 

[idonaldson]

ok thanks - just using personal for now - I just applied for debit card - never knew about that one until I seen a sign at home depot. will look into the website thing.

 

[dazzabling]

ok thanks - just using personal for now - I just applied for debit card - never knew about that one until I seen a sign at home depot. will look into the website thing.

Here you go

https://www.paypal.com/cgi-bin/webscr?cmd=xpt/auctions/PaypalPreferred-outside

 

[Rodney]

That's a smart move by PayPal.

In combination with the PayPal debit card, it seems like you'd be getting access to the funds virtually instantly.

You could accept a payment and use the PayPal debit card to pay for something (dinner, supplies, etc) 5 minutes later.

 

[dazzabling]

That's a smart move by PayPal.

In combination with the PayPal debit card, it seems like you'd be getting access to the funds virtually instantly.

You could accept a payment and use the PayPal debit card to pay for something (dinner, supplies, etc) 5 minutes later.

Also, you can buy supplies for an order immediately after the funds are paid and its easier to keep track of invoices since PayPal has that function.

 

[HautePynk]

yes i cant wait for it to come out..i use my PP debit more that I use my bank cards lol... I also have the Intuit card reader which costs the same swipe rate and PP but i like the fact that it goes to my PP account instead of a stupid card like intuit

 

[idonaldson]

I think things like Square force PayPal to play catchup - people do not want multilple accounts to keep track of - Square transactions are in my account no later than the day after next - No I am in search of the register and receipt station for my B&M. I like the fact that I can touch pictures and add discounts by customers. I like living.

 

[nypdofficer1]

What are pay pals rates? Do they compare to Square?

 

[veedub3]

I use square now but I think this would be nice!

 

[tazzringel]

Do you know Squares little secret? If you don't swipe a card and enter manually then the pre-set limit is $1000.00/wk. Anything over that limit is held for 30 days.
We have some clients that pay over the phone or the interent, so we get held to this limit every time. We did however increase out limit to $3000.00/wk, but it still is a problem.

 

[Hegemone]

Never mind.

 

[Rodney]

We have some clients that pay over the phone or the interent, so we get held to this limit every time. We did however increase out limit to $3000.00/wk, but it still is a problem.

If you have enough volume, a traditional merchant account might be a better fit for that situation so you have access to funds quicker.

I don't think I'd use Square for manual card entry, but if it's the only merchant account you have, then I guess you do with what you can.

 

[idonaldson]

I guess one day when I am forced to think large operations then - I will have to move up and onward. I do not take cards but would do Paypal and get hit with the 4% charge - but I was willing to accept to know that I had the funds and avoid inconvenience or lost sales. I do not do business without relationship so not worry about bogus card so if you are in front of me and have card with ID then I will do square - otherwise you would need to search for someone else. I know Intuit was higher and there was a monthly - if not then there was nother reason I went with square.

 

[debz1959]

Paypal's rates decrease as your volume goes up. Starts at 2.9 (to 3,000) to 2.5 (3,000.01-10,000), to 2.2 (10,000.01-100,000) and 1.9 (over 100,000.01). There is also a transaction fee of $.30. I don't know whether this will apply to this new service...

 

[Hegemone]

I deleted my post because I was not adding to the conversation.

 

[Rodney]

PayPal very much serves a niche market and should focus on that and take that to the next level they missed their chance to be a force in the swipe market

I think PayPal serves a pretty wide market. They've been processing online payments since about 1999, so adding on swipe for in person transactions is a pretty good move to service their already large base of customers.

Just about everybody that has sold on eBay now has the ability to accept credit cards and PayPal has an easy way to market and advertise to them to get the card readers in their hands.

I don't think people care too much about a .05 percent or so in either direction. I think generally people will go with the company they trust or prefer for some other reason (brand, interface, etc). If we were talking a whole percent, it might be a bigger deal, but a lot of people (small businesses) already use PayPal and are more familiar with them than Square or Intuit.

 

[Hegemone]

By niche I meant processing web based payments. Person to person payments never really caught on. They tried valiantly but soon dropped their marketing targeted to person to person payments. Their model that uses a 30 cent transaction fee regardless of size is very damaging and I think people will step up and take notice. If they don't their competitors will point it out.

What people do is their own decision but it only makes sene to practice due dillegence. Informed consumers are good consumers.

 

[dazzabling]

Paypal's rates decrease as your volume goes up. Starts at 2.9 (to 3,000) to 2.5 (3,000.01-10,000), to 2.2 (10,000.01-100,000) and 1.9 (over 100,000.01). There is also a transaction fee of $.30. I don't know whether this will apply to this new service...

Did you have to notify PayPal to change your rates? We had to cause I notice we weren't on the decreased rates luckily I notified them. I didn't even know that option was available till I was poking around paypals site.