161–170 of 225 posts
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The real core business competence of a payment processor isn't handling or distributing money, it's dispute arbitration.
Yes, absolutely; and this is one of the things that Bitcoin advocacy ignores. It goes in the other direction: all transfers are final, legitimate or otherwise.
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I, as a customer, actually prefer Sofortüberweisung compared to PayPal. I also don't have a credit card and I don't want to have one.
Then your giving all your online banking login data to SOFORT AG and/or Klarna AB. To me that's even worse. I like giropay since then I'm only dealing with my own bank.
If I had the choice, I'd pay with a Lastschrift.
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PayPal has some serious issues with regards to what you say, but I used it last summer to transfer money from USA to Europe for my daughter and the fee was a fraction of what the bank wanted. Banks can be pretty scummy in their own way.
Have you ever tried TransferWise? With customers and family around the world, I'm thinking of switching to them to handle transfers instead of Paypal/Stripe. They seem to have the most honest fees around. Disclaimer: not affiliated with them. Just genuinely curious.
Paypal has so many things wrong with their company. The majority of employees, even in the business support department, have absolutely no clue what is going on. They will give you an answer to a question, you will call back later, get a new agent, and then you'll get a completely different answer to the same question. Half the time the customer support is clearly just improvising, because the system is such a mess t…
Things like that would happen on a pretty regular basis.
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> It doesn't allow comparison between the same currency. Their use case is transferring funds between currencies, why would you want to do that?
The site says "transfer money abroad". If for some reason they only want the more difficult kind of transfer, it would help to make that clear. I'm confused by you asking why when the answer is both obvious and explicitly stated in parent comments. Sending someone money in a different country, but they happen to use the same currency.
If its within EU there is of course no point in using TransferWise as EUR-EUR transactions are practically free.
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Have you ever tried TransferWise? With customers and family around the world, I'm thinking of switching to them to handle transfers instead of Paypal/Stripe. They seem to have the most honest fees around. Disclaimer: not affiliated with them. Just genuinely curious.
How does it work? I wanted to use them once, but it was the first time I heard about them and their site doesn't explain anything. If anything, it looks shady - "outsmart your bank, use us, we do it super cheap, promise!" but no explanation of how it actually works...
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I always compare with my normal bank when I'm forced to use paypal and so far they have always been slightly higher than the bank. I live in Sweden though.
My wife uses Nordea and they go out on a limb for her every time she needs something (and she lives in the US with me, so hardly can go into the bank for things).
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Have you ever tried TransferWise? With customers and family around the world, I'm thinking of switching to them to handle transfers instead of Paypal/Stripe. They seem to have the most honest fees around. Disclaimer: not affiliated with them. Just genuinely curious.
How does it work? I wanted to use them once, but it was the first time I heard about them and their site doesn't explain anything. If anything, it looks shady - "outsmart your bank, use us, we do it super cheap, promise!" but no explanation of how it actually works...
TransferWise converts your money at the mid-market rate and matches you with people sending in the other direction. That's why it costs so little.
My understanding - after you've given the money you want to transfer to TransferWise, they find someone in your destination country who wishes to transfer money to the country where you are (kind of like a swap). This way, they cut off the banks and their fees and charge you a lower fee.
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I sell a software production online. The purchase page has a simple credit card payment form, and off the side is a small "PayPal" button an an alternative payment method. Despite the fact that the PayPal button is tiny compared to the credit card form, a full 2/3 of customers use PayPal to complete the purchase. That's why people use PayPal, because a large percentage of customers prefer it over credit card payments…
For me, it's not that I prefer PayPal, it's that I don't want to give my credit card details to a business if I'm not sure they can keep it reasonably secure. And the fewer places I have my card the better. You might get the same results with Amazon Payments, unless you have an international audience.
This is exactly why I use PayPal. I would far rather use a more reputable interface system, but I am NOT keen on handing my CC info out to every shop online.
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How is it that these people can jump to another provider and not end up with the same issues then?
Most likely, the other providers have not achieved the same level of "success" that Paypal have, and therefore haven't reached steady state in terms of risk losses. Or, they have painted themselves in a corner by advertising that they are much more business-friendly than PayPal, and are taking losses on the chin in the hopes of growing/inventing their way out of the problem.