posted on April 13, 2001 03:01:22 PM new
Hi fountainhouse,
I believe the correct number is 30 to 40 per month and not daily for BBB complaints.
Accounts are not FDIC insured, but I can cover the Traveler's Insurance aspect (unauthorized access) and how the Money Market impacts users if it helps.
posted on April 13, 2001 03:21:31 PM newMicrobesBiggest reason is it is NOT instant cash, but buyers expect you to treat it as such. I ship lots of packages in the 40 to 100 lb. range, and I don't want to dip in my own pocket to pay shipping, while waiting for "real money" to hit a "real bank account".
Maybe you need to rethink that. I pay for all of my USPS payments directly from my PayPal account. I hand them my PayPal card, they run it and say "Thank You" and my postage is paid for. I even get a 1.5% discount. The buyer's payment were available to pay for the postage seconds after they were emailed to me. That's instant enough for me.
UPS picks up at our door. They don't take Plastic when they pick up that way, it is check or Money Order. I prefer my money in a "real bank", you know, some where with FDIC and cash when you ask for it.
posted on April 13, 2001 05:00:43 PM new
Microbes:
The point I was making was in regard to your statement "Biggest reason is it is NOT instant cash" isn't exactly accurate. If I'm paid at 12:30pm by PayPal at 12:31pm I can go to an ATM machine and withdraw up to $300.00, or I can spend those funds anywhere that accepts MasterCard, or I can even purchase money orders from the USPS.
posted on April 13, 2001 07:22:28 PM new
Yes, please do, Damon. I think it would benefit the many users who currently believe their funds are "insured" to learn the nasty truth behind the PP sales pitch "Your account is insured by Travelers!"
As you alluded to, please elaborate on the fact that PP accounts are *only* insured against unathorized access (as in hackers), *not* against the many other potential (and perhaps more probable) hazards.
meandmystuff, PP isn't FDIC-insured because they aren't a banking institution. As I understand it, they're bound by certain federal banking laws, but by no means all.
For the occasional auction purchase, PP's probably fine. But anyone who's using it as a savings account or regularly accepting huge volumes of payments better have a contingency plan and the ability to do without their money for several months, IMO.
posted on April 13, 2001 09:26:44 PM new
Increased sales dramatically when I started using it in conjunction with Buy It Now. never a problem (knock on wood). Also use it as a buyer-still no problem!
posted on April 14, 2001 12:26:21 AM new
I accept paypal, billpoint, and credit cards. I prefer to let the customer pay me any way that they can. Money is money.
-Trey
***********************************
"If your mind can conceive it, and you believe it, then you probably can achieve it."
posted on April 14, 2001 09:53:04 AM new
Hi fountainhouse,
We don't offer FDIC insurance because we are not a bank. We are a payment service.
Many of the fears for users come from unauthorized access, which is addressed through the Traveler's Insurance feature.
As it relates to other concerns, the BBB complaints run around 30-40 per month and we are working with them to reduce this number. Issues like customer service response time have been addressed through the addition of 75 more representatives. The other issues are being worked on and we are trying to increase messaging to users so that they can avoid issues when using the service (over 200,000 transactions are done daily without an issue).
posted on April 14, 2001 10:10:31 AM new
75% of mine use paypal. A couple use Billpoint. But I only sell small stuff and would rather have money orders and checks since I am not making any money with all the fees now. I would like to put in my auction that I prefer payment with money orders and checks but I doubt that would change the percentage that want to use their credit cards.
posted on April 14, 2001 12:10:32 PM new
As a buyer, I ~wanted~ to use Paypal, since so many sellers use it. When I tried to enter my credit card number (WITH the 3 digit security code at the end) on the website, it kept saying the 3 digit code was invalid. Finally it "locked out" the card and wouldn't let me try anymore.
Sure, I have other credit cards, but ~that~ was the one I wanted to use for ebay. I emailed their customer support, and they were absolutely no help at all. There isn't even a manual process they can use to verify the CC?
So, I went to Billpoint and had no problems at all. Paypal's loss...
posted on April 14, 2001 12:16:05 PM new
Scooter boy I tried four of my credit cards and had the same problem with that 3 digits at the end. Called their customer support and they say they have a new agency that verify's the credit cards and I would have to call their finance department at paypal. They told me I could not use the locked out cards anymore. I called my bank and they told me that they have had a number of calls from people who wanted to use paypal and their cards where rejected. Trust me it isn't your card it is paypal and they won't be of much help once the card number is rejected but you would think by now they would figure out that all of these rejected cards aren't helping their business. The cards that they were rejecting were right out of my checking account so I know they were good.
posted on April 14, 2001 12:23:52 PM new
I guess I'm not alone, then. I too wonder how many customers Paypal is throwing away.
I usually don't mind boycotting companies with stupid business practices, but in this case so many sellers take Paypal and not Billpoint...
[ edited by scooterboy5 on Apr 14, 2001 12:30 PM ]
posted on April 14, 2001 01:22:55 PM new
I buy and sell on ebay, mostly sell now and I've been considering using Paypal as there seems the demand. However it seems they don't accept AMEX which is the card we use and I'm also a little nervous with all the complaints I have seen on these boards in recent weeks.
PayPalDamon, why don't you take AMEX and how could I as a Canadian buyer and seller possibly use your service?
posted on April 15, 2001 08:08:30 AM new
As a buyer, I prefer to use PayPal or Billpoint because it is fast and convenient. My bank doesn't charge me for money orders or cashiers checks, but I still have to go there to get it, fill out the thing, address the envelope, stamp it, and mail it. Then I have to wait for the seller to get it and wonder if they will get it. If it does get lost in the mail, I have to try to convince the seller that I really did send it, send payment again, try to chase the first one down, and stop payment on it. Much faster with electronic payments. PayPal has not lost a payment yet, I can't say the same about the USPS.
Not accepting PayPal doesn't usually stop me from bidding if it is something I really want, unless the seller demands payment within 10 days or else. In that case, I will not bid if they don't take PayPal or Billpoint since I can't be responsible for the USPS. If they want payment fast, they should accept fast payment options.
If I want the item, but not badly, I may be less likely to bid if they don't take PayPal or Billpoint because of the convenience.
Pepper
posted on April 15, 2001 08:56:03 AM new
At least 75% of my sales are paid through paypal, and I always use paypal to pay for auctions won, provided that the seller takes PayPal. To date I have never had any problems with PayPal!
posted on April 15, 2001 12:31:26 PM new
I take PP and BP. Never had a problem with either. I told a new buyer last week that I accept Paypal and Billpoint, she wrote back and said that she had never heard of penpal or ballpoint!!!
posted on April 21, 2001 07:38:20 AM new
We offer PayPal, or the buyer can call us direct, as we have a merchant account with both Visa, Master, AND American Express.
We love PayPal and have never had a problem except via a few newbies who didn't seem to be able to figure out how to use the PayPal system!!
REGARDING the buyer who thinks that shipment should be instant since payment was; we have a prominent paragraph which is near the top of both our letter of "Congratulations," AND our letter of "Thank you for your payment." Said paragraph tells the seller that we have many buyers, and many buy large, delicate items which require very complicated, careful packing. We tell them that items are shipping in the order payment is received and that normally it will be a week before shipment is made. We also tell them that we will e-mail them when their shipment is in the mail, or on the UPS truck.
Since we started inserting this in both letters we have had few becoming impatient, or writing wanting to know when we were going to ship or where their item was.
I find, IF the buyer understands that they are NOT your only customer, and that you will ship as soon as possible, and they can see via your feedback that your other buyers are happy, that most are both happy, and patient.
posted on April 21, 2001 07:46:55 AM new
BidPay is much better than PayPal. The fees go to the buyer not the seller. I much prefer Postal money orders or BidPay. It's a Western Union money order and I can ship upon confirmation. The money is already enroute to me. Makes for very happy customers! <><
posted on April 21, 2001 08:04:40 AM new
i HAVE BEEN away from ebay for 2 months but I still think paypal is great! Billpoint too. I sell items I buy at auctions and make at least $10 per items so I can live with $1 or so of fees to get the money. You know, as long as I get paid I don't care how the money gets here!
Prepare for the worst but hope for the best!! Spuddy98
posted on April 21, 2001 12:59:28 PM new
I will accept payment in whatever form makes my customer happy. At Halloween I had a person in Italy win a costume pattern I paid $1 for. I asked them to send me instead of money something my friend who is a new grandmother and 100% Italian would love. The result?
Late 18th century Capadimonte (sp?) Granmother and Grandfather figurines.
Needless to say, my friend was thrilled. Ah, only on eBay ....
To be honest - if a customer anywhere has something that interested me I would be open to bargaining. Geez, ya gotta have fun!
And I noticed a while back someone posting they like paid in Chex Mix. I would do that, too. Part of the fun of eBay is meeting people and trying new things.
Now -- let me tell you guys out there about something called a GOB that is really popular here ...
posted on April 21, 2001 02:20:17 PM new
I accept PayPal as a seller and use it as a buyer. I haven't had any problems myself so far and hope that continues. http://bjgrolle.freehomepage.com
posted on April 21, 2001 06:08:44 PM new
Went to PP due to buyer request. Have had no problems. Seems about half of buyers lately choose to use PayPal.
posted on April 21, 2001 08:42:59 PM new
About 30% of my buyers are using it, I'd guess. It's the only service of its kind I offer (except BidPay, which you don't really "offer". Not because I'm a great PayPal fan (I get to be less of one every day), but because I'm not high-volume and think I would like Billpoint even less.
One area where I do think PayPal makes a huge difference is international payments. I haven't used it that way as a buyer, but as a seller it is very useful in many cases.
They need to get things settled and stop the fee-ing frenzy, though. People are willing to concede there's no free lunch and PayPal should make a profit, but they're closely related to an industry (banking) which has a history of "inventing" fees on things that have little or no cost basis. Billpoint's association with Wells Fargo helped convince me that they'd start gouging if they ever got a dominant market position (since that's what Wells Fargo has done with its banking customers). PayPal still has a chance to get it right.
posted on April 22, 2001 04:37:12 AM new
I am both a seller and a buyer. I use PP for both. Alot of my buyers use PP. When I am buying, I look for auctions that accept PP. I try to stay away from money order only auctions.
posted on April 22, 2001 07:24:36 AM new
To Paypaldamon:
You stated in this thread "We don't offer FDIC insurance because we are not a bank. We are a payment service."
But Paypal is owned by x.com, which WAS a bank when they bought Paypal, wasn't it? They used to offer bank accounts, CDs, etc. Did you lose your banking charter for some reason? How does a bank become a non-bank, and why would you do that (you could have otherwise offered FDIC insurance)?
. Not because I'm a great PayPal fan (I get to be less of one every day), but because I'm not high-volume and think I would like Billpoint even less.