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Are you in e-commerce? PayPal is a must have for e-commerce. Some companies try to abandon PayPal and see a sharp decline in sales. Being the first digital wall
by theturtletalks 4y ago
Are you in e-commerce? PayPal is a must have for e-commerce. Some companies try to abandon PayPal and see a sharp decline in sales. Being the first digital wallet gave them a first mover advantage that will never go away.
Only chance is enough people start selling online and see how PayPal treats sellers and stop using it as buyers.
- deleted 4y ago[deleted]
- xupybd 4y agoYeah we are in e-commerce. We've never had PayPal. I don't think many of our customers would know the difference. To them it's just a place to put some credit card details. We're looking at moving to a much cheaper local alternative (typically 1% transaction fees) https://www.paymark.co.nz/products/online-eftpos/ https://www.paymark.co.nz/products/online-eftpos/ I don't think PayPal has the same foothold on the market here in NZ. We have this abomination https://www.polipay.co.nz/ https://www.polipay.co.nz/ it logs into your online bank account to make payments. I hope people start to realize how terrifying that is.
- theturtletalks 4y agoPayPal’s stronghold in the US is because eBay was one of the first ways to buy things online and using PayPal was the only way to pay. I’m sure PayPal didn’t have that sort of leverage in other countries where online sales grew in other ways.
- lancesells 4y agoeBay is going to stop supporting or offering PayPal next year.
- hakfoo 4y agoI think the narrative is a little different. eBay got big, and at the beginning you did the usual terrible American mail-order payment methods-- personal cheques and money orders. I can recall getting money orders because they'd usually clear faster and I might get my item in a couple weeks! PayPal was one of several competitors in the early 2000s, but they were by far the most successful; I suspect this was because they did a lot of "we'll give you and the recipient USD5 as a referral fee" growth hacking. Eventually, they merged with eBay and the "they're the dominant choice" became "they're the only choice."
- theturtletalks 4y agoGood point. What were the PayPal competitors in the early days?
- hakfoo 4y agoThe one I recall was Citibank's C2IT. They decided to offer an even larger referral bonus (USD 10 IIRC) so some people ran obvious-sham auctions basically advertising "we only take this, and here's the convenient referral link for me right here."
- cmeacham98 4y agoThe claim that PayPal is "a must have" for e-commerce is misleading at best - the largest e-commerce sellers largely _don't_ accept PayPal (see, for example, Amazon) - and I would argue that isn't some weird coincidence. > Some companies try to abandon PayPal and see a sharp decline in sales. Removing PayPal is going to be way different than not having it in the first place, because you have cultivated a client base that expects to pay with PayPal.
- ROTMetro 4y agoIn online music forums one of the frequent requests I see when new VST makers come out is 'when will you support Paypal?'.
- kevin_thibedeau 4y agoThe largest sellers aren't a reason to use PayPal. They can be assumed to have their shit together by now and can protect payment details from a breach. But for smaller e-commerce sites I'd never in a million years trust them with direct CC number entry. You need a proxy and in the US PayPal is the only dependable option for payers.
- __derek__ 4y agoAmazon accepts Venmo as of a few months ago.