Benefits and Drawbacks Of Online Payment Service PayPal

Technology has provide us lots of advantages are now our daily routine life become pretty easy and are spending a like full of easiness an around the world lots of people are earning money due to using technology. We can say that there are thousands and thousands of people all over the world who in fact make money on the internet, either as a complete time online business, part time business or just as an additional income. So, the chance to work at home and make money online or to put up a full-blown home based online business is wide open for any person nowadays. If we are talking about online businesses there is also a bright name and that is blogging, here I want to say that previous to you start your first online business, be definite that you have gotten as much make inquiries done beforehand as possible. Because this will cut down on the level of “trial and error” that you must suffer through your first experience. And also situate the long term goals for you to shoot for, and commit yourself to focus and consistency. One drawback of Paypal is having to view their ads for business cards and other partner products after making a transaction.

More and more business are come online even a graphic designer can perform its services in the fields of printing, flyers, brochures, postcards, business cards, posters, booklets, rack cards, calendars. In the flux of online business there is also a name and that is PayPal who manage your income. With more than 232 million accounts registered, PayPal allows the customers to send, hold and receive funds in 24 currencies international in 190 markets. In 2009, PayPal launched a Students’ Account for teens stating it’s aspire to make available tools to teens for educating them on spending money wisely. Parents can set of contacts this account and transfer money into it, giving their teens a debit card. Here I am going to present you the benefits and drawbacks of online Payment service PayPal

PayPal Benefits

Ease of Use its Policies

Ease of Use its Policies

The main benefit of PayPal is that it’s pretty easy in use most of the people prefer it due to its easiness. The easy system and customization options that PayPal makes available are really graceful and the price options for the seller are completely customizable, the ‘add cart’ and ‘view cart’ options and buttons are presented and they can also be made by the user. So, these kinds of customization options need nothing more than a plain copy and paste of existing codes. Just within minutes, one could be up and selling online, internationally.

The majority of the internet payment services maintain themselves throughout monthly or regular payments through the customers. Other than in PayPal, you pay only when you sell and in this way, you are sheltered against the risk of having to pay service fees although you are not having sales. It is approximately as if PayPal is you pal in excellent times and not-so-good times.

Account Options With the Ability of international payments

Account Options With the Ability of international payments

There are also many resource full options in this kind of online payment because it’s depending on what you have a desire for to use an account, you be able to decide among a personal account, a student account or a business account as well. Even A single person can moreover own numerous accounts in multiple categories according to his need. Every of these accounts carry diverse privileges and have different systems. As stated previous, PayPal provides you the option of paying and accepting payment in 23 currency categories. International payments frequently bring upon you the currency conversion charges. In favor of amounts up to $100,000, PayPal charges just a nominal 3.9% with a small fee which varies in relation to the country. The ability to recognize and pay in the course of credit cards and debit cards is also a great feature.

On the other hand Payments from one business account or premier account to another is completely free. The fee for transacting through credit and debit cards is also a nominal 3.9 percent. A individual account like has no transaction fees when it comes to transferring money among PayPal users.

PayPal Drawbacks

Hidden Charges And Low Customer Service

Hidden Charges And Low Customer Service

There are also so many Drawbacks in this online payment service because everything has its positive and negative aspects. Because personal account holders have no transaction fees at the same time as making or receiving payments from further accounts other than they have limit on the amount of money being shifted. Although this restriction does not survive for business and premier accounts, they are charged transaction fees (about 1.9-2.9 percent plus $0.30 per transaction). This turns out to be a big load for small sellers on eBay and the likes. Adding to the pain of a locked account and extra strict policy is the problem with a very difficult service. There are no numbers simply presented on the website and even when you find the numbers, there gives the impression to be nobody at the other end of the line. There have been criticisms of emails receiving only automated responses.

Even when one manages to get legislative body on the line, they are not of much help as they state that the problems are completely out of their control. There are also reports of bank accounts being automatically debited without the knowledge of the account holder and there is no way to rectify the same. And A gigantic profit of the transaction is taken by PayPal this is really hard to understand when PayPal claims to help the small sellers.

Awful Process of Protection and verification

At the same time as the setup is easy, getting the account functional can be annoy because you have to give your account number and routing number. PayPal after that makes token deposits which you have to wait for 5 days to turn up in your account. PayPal is highly vulnerable to fraud and if you happen to be an unfortunate victim, you really are in for bad news the slightest hints of suspicion locks missing any PayPal user.

So, this has to be packed into your PayPal account to make active it and if you don’t have the capability for internet banking then the difficulty only obtains compounded. You might have to wait weeks to get your statement in the mail because of this; numerous times the funds are refunded to the customer even after the items have been shipped! This could prove disastrous for the seller. The complaint system is moreover awful which does not seem to redress some matters.

To Conclude

In the end we can say that PayPal has some Benefits and drawbacks too but if you’ll use it in a positive way you can get so many advantages out of it because the provision of an exchange process of payment makes it flexible and attractive for the buyers. But Though PayPal provides 23 currency kinds for payment; it keeps out some important currencies and in this regard The Indian Rupee is an example. However if you like my effort then please leave your comments below.


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