4 ms·

I will never use PayPal again. This is my story why

6 points by davidmclean 5y ago

bhhaskin 5y ago
This is an ad disguised as a story about paypal.
- davidmclean 5y ago
  Well it isnt, its a story about why I dont use PayPal anymore and what thats resulted in. Also, there is no paid product mentioned anywhere?
2Gkashmiri 5y ago
i have never used paypal because in india it only started official business few years ago but the fees are just too much. you probably cannot receive small amounts and not having to pay more "fees". OTOH, people like razorpay https://razorpay.com/pricing/ https://razorpay.com/pricing/ are much open about their fees schedule and its not like this https://www.paypal.com/in/webapps/mpp/merchant-fees https://www.paypal.com/in/webapps/mpp/merchant-fees what does dispute fees mean? why are they charging 6% + fixed fees for micro payments and then charge another amount for disputes? fuck paypal
- davidmclean 5y ago
  wow, I had no idea the fees where so much in India, another reason not to use them. My main issue as someone who used them for taking payments was them holding my money and not being able to talk to anyone about it. Not in a meaningful anyway.
  - 2Gkashmiri 5y ago
    yeah.. here the fintech has a race to bottom because EVERYONE has a 2~2.5% fees cap so the only way these providers differentiate is by providing more service for same or less cost. other than that, even the 2% fees is too much because of legacy "credit card companies". there is something called "netbanking" which has zero fees for everyone and people prefer that. one issue with using this is, once the transaction is through, there is very little recourse. in extreme cases when there is a breakin and someone steals your money, the bank is called, then police and then its a matter of litigation to get money back. the "upside" of using these companies and "credit card" is the option to charge back and disputes. if they are charging 2% for that, well thats good enough but not more than that

4 ms·

I will never use PayPal again. This is my story why

6 points by davidmclean 5y ago

bhhaskin 5y ago
This is an ad disguised as a story about paypal.
- davidmclean 5y ago
  Well it isnt, its a story about why I dont use PayPal anymore and what thats resulted in. Also, there is no paid product mentioned anywhere?
2Gkashmiri 5y ago
i have never used paypal because in india it only started official business few years ago but the fees are just too much. you probably cannot receive small amounts and not having to pay more "fees". OTOH, people like razorpay https://razorpay.com/pricing/ https://razorpay.com/pricing/ are much open about their fees schedule and its not like this https://www.paypal.com/in/webapps/mpp/merchant-fees https://www.paypal.com/in/webapps/mpp/merchant-fees what does dispute fees mean? why are they charging 6% + fixed fees for micro payments and then charge another amount for disputes? fuck paypal
- davidmclean 5y ago
  wow, I had no idea the fees where so much in India, another reason not to use them. My main issue as someone who used them for taking payments was them holding my money and not being able to talk to anyone about it. Not in a meaningful anyway.
  - 2Gkashmiri 5y ago
    yeah.. here the fintech has a race to bottom because EVERYONE has a 2~2.5% fees cap so the only way these providers differentiate is by providing more service for same or less cost. other than that, even the 2% fees is too much because of legacy "credit card companies". there is something called "netbanking" which has zero fees for everyone and people prefer that. one issue with using this is, once the transaction is through, there is very little recourse. in extreme cases when there is a breakin and someone steals your money, the bank is called, then police and then its a matter of litigation to get money back. the "upside" of using these companies and "credit card" is the option to charge back and disputes. if they are charging 2% for that, well thats good enough but not more than that