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So what's wrong with setting up an account with a payment processor rather than paypal? The processor only provides the interface, but does not actually hold mo
by iwr 16y ago
So what's wrong with setting up an account with a payment processor rather than paypal? The processor only provides the interface, but does not actually hold money hostage or have other arbitrary restrictions.
- lsc 16y agoyou must have much better credit than I do. Every payment processor that will do business with me 'holds' 25-50% of my money for a certain number of months even when you aren't doing something suspicious. Now, last time I looked was a few years back, so things may have changed, but this was my experience last time I had a merchant account... Paypal isn't any good, but they are the best of a bad lot, as far as I can tell.
- jasonlotito 16y ago25-50%? I never saw that rate, and I've dealt with a LOT of processors. 5-10% is common. It's what the banks hold in case of chargebacks.
- lsc 16y agothis was a few years back... so it's quite possible that I am misremembering. I do remember that it seemed like quite a lot, and these were the days before authorize.net was willing to hold the credit card numbers for you... between those two things, I decided that at the time, paypal was a much better option.
- jacquesm 16y agoYou're not misremembering at all. It depends on the market you're operating in. These holdbacks still exist.
- jasonlotito 16y agoI operated in the high risk space from 2002-2007 and we never had holdbacks that high. 5-10% was normal.
- jacquesm 16y agoFrom which country ? Define 'high risk' please ?
- jacquesm 16y agoI was paying money, not receiving it.