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Written between 2022-08-13 and 2024-09-02

There are several reasons why a seller may choose to no longer accept PayPal as a payment method, including the high fees and unrealistic policies that Paypal imposes on sellers.

One major issue with Paypal is the high fees that it charges for processing transactions. These fees can significantly cut into a seller's profits, especially for small businesses or individuals who may not have a high volume of sales. In order to remain financially viable, sellers may need to pass on these fees to their customers in the form of higher prices. This can be problematic for sellers who are trying to keep their prices low in order to combat the effects of inflation (I like to say, what CO2 is to global warming, Paypal is to inflation), as it can make their products less competitive in the market, and contribute to the never ending dynamic of spiraling global inflation.

Another issue with Paypal is its policies with respect to sellers. These policies can be unrealistic and burdensome, and can make it difficult for sellers to operate effectively. For example, Paypal may hold onto a seller's funds for an extended period of time, which can create cash flow problems for the seller. Another example: the seller cannot make use of the cheaper shipping methods that do not use tracking, so the client must pay a hefty surcharge to add tracking to their purchase. For low cost items, this means the shipping charge can be more than the item itself. Additionally, Paypal may also require sellers to adhere to inflexible partisan rules and guidelines, which can be time-consuming and costly to comply with. As an example, last year Paypal went into our bank account and withdrew $450.00 because a buyer of antennas located in New Zealand complained their shipment was late. If you have a problem and want to talk to a human? Forget it. We had no recourse to address this issue with Paypal, and we eventually worked out a compromise solution directly with the buyer which took almost a year and hours and hours of labor on our part.

In contrast, alternative payment methods such as Zelle, ACH, and Wise [ 1 ] offer a more attractive option for sellers due to their low or nonexistent fees and more flexible policies. These payment methods allow sellers to accept payments with minimal financial burden, and they also provide buyers with the convenience of making purchases in their own currency with no exchange rate spreads.

Overall, the decision to no longer accept Paypal as a payment method can be a sound one for sellers who are looking to keep their prices low and combat the effects of inflation. By switching to alternative payment methods such as Zelle, ACH, and Wise, sellers can benefit from lower fees and more flexible policies, while still providing their customers with a safe and secure way to make purchases.

Buyers may perceive that they need to use Paypal and pay higher prices in order to protect themselves through Paypal's buyer protection policies. In my experience they do not seem to know that although Paypal says 'most' disputes take 30 days, it is not uncommon to take 3 months or more. At the moment we generate a shipping image of each shipment and send it to the client. Shipping to the USA is via tracket packet, so clients in the USA can track their package. Because it is so expensive for sending a tracked package to Europe, clients there have the option to use cheaper shipping, or pay a premium for tracking. For Canada, the shipping method is determined by the size and weight of the package. It's pretty obvious we are not some company running a scam website selling sham products, and also it seems rather inefficient for someone to pay a premium to labour under the illusion they have some buyer protection for an order that typically costs less than $100.00.

Both Zelle and Wise offer fast and convenient ways to send and receive payments. With Zelle, users can easily send money to friends, family, and businesses directly from their bank account, and recipients can typically access the funds within minutes. Similarly, Wise allows users to send and receive payments internationally with low fees and competitive exchange rates. This can be particularly useful for individuals or businesses who need to make or receive payments quickly, as it eliminates the need for time-consuming processes such as mailing checks or waiting for wire transfers to clear.

In addition to their convenience, both Zelle and Wise also offer a high level of security. Zelle is backed by major banks and financial institutions, and uses advanced security measures to protect users' information and transactions. Wise also has a strong focus on security, with measures such as two-factor authentication and encrypted communication to protect users' data.

Another benefit of signing up for an account with Zelle or Wise is the ability to easily track and manage payments. Both platforms offer tools such as transaction history and account statements, which can be useful for keeping track of expenses and budgeting.

Overall, signing up for an account with Zelle or Wise can be highly desirable due to their fast and convenient payment options, strong focus on security, and useful tools for tracking and managing payments. These benefits can make Zelle and Wise particularly useful for individuals or businesses who need to make or receive payments quickly and securely.

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