Anybody use Paypal ?

[tallyho8]

I have used PayPal in an online business I have for 22 years and prefer it over any other type of payment besides cash. I get about 3000 payments a year through PayPal and have only had payments cancelled about 3 times in 22 years. This is an extremely low cost of doing business compared to the shoplifting cost in brick and mortar stores.

I leave a fair amount of money in my PayPal account because I use it with my PayPal debit card to pay for everything I buy from Amazon, eBay, Walmart, etc. I also get a 1 1/2% rebate on everything I buy this way.

My new customers love it because they don't have to give me, a stranger, their credit card number and I love it when I buy with it because I don't have to give anyone my credit card number. They have never made a mistake with my account and the one time I thought they did and phoned them about it, they showed me how I was the one who was mistaken.

In the rare event when I buy something on eBay and they send me a box full of rocks with tracking showing it was delivered, I simply take photos of everything, fill out PayPal's forms and receive a credit back from them and if another buyer has the same complaint with that new seller, he is banned from eBay and PayPal.

 

[ljjhouser]

Anyone remember when PayPal would issue you a "single use" credit card based (linked) to your account. After the purchase, the number became invalid. I really liked that. But it must have been problematic because it only lasted a short time. All attempts to make online shopping more secure..

 

[Oaktree]

In my opinion, every transaction in eBay is to a questionable account. That is because you are always sending or receiving money to/from an unknown account/person. That is how PayPal came into being. They gave the buyer recourse.

Years ago, you were really dealing with an individual on eBay. Shipping occurred when the seller had time, usually about 2 weeks. Sometimes not at all. The honor system was based on reviews.

I hear ya. I got burned a few times in the early days of Ebay when it was mostly individuals selling. Maybe some good stuff, but a lot of time just unloading junk onto a stranger. Bought an FM tuner once, got it and it didn't work. Contacted the seller who basically said "TS, I never said it worked" . ppthft, never said it didn't either.
Ebay wouldn't do anything since he never claimed it worked. I think this was pre-PP, forget how I paid.
I have largely avoided them since.

 

[Oaktree]

Anyone remember when PayPal would issue you a "single use" credit card based (linked) to your account. After the purchase, the number became invalid. I really liked that. But it must have been problematic because it only lasted a short time. All attempts to make online shopping more secure..

Didn't know they'd discontinued it. I used that a couple times, the CC statement just showed the sale amount (plus a small fee) billed to PP.

 

[ljjhouser]

Didn't know they'd discontinued it. I used that a couple times, the CC statement just showed the sale amount (plus a small fee) billed to PP.

I thought they did. Maybe just changed it. Also remember the usb key you could buy for $5 to use with authenicating your ID. I think that was also discontinued. Maybe.

 

[npalen]

Have not read all the posts and someone may have already mentioned that the U.S. Government is starting to monitor transactions over $600.00 effective 1-1-2022. My understanding is they will then send 1099 statements at year end for the total of these receipts via Paypal, Venmo etc.

Edit:

 

[jyoutz]

Yes it is. I used to sell there several years ago, but not recently. Selling is different. I cannot comment about that since it has been so long.

I have pretty much stopped using eBay entirely. Amazon has shorter delivery times and seems more efficient. I also think PayPal and eBay are now one in the same. I think PayPal bought eBay many years ago.

Amazon is my go to, but eBay still comes through often for hard to find, discontinued, or used stuff that Amazon doesn’t offer.

 

[jyoutz]

Have not read all the posts and someone may have already mentioned that the U.S. Government is starting to monitor transactions over $600.00 effective 1-1-2022. My understanding is they will then send 1099 statements at year end for the total of these receipts via Paypal, Venmo etc.

Edit:

Most online businesses collect sales taxes now

 

[rekees4300]

I quit eBay because of pay pal.

DITTO ... last time I used Ebay 5 years ago my credit card number was stolen and used by thief to buy merchandise all over the USA. Needless to say, for me, Ebay became non-existent.

 

[grsthegreat]

Ive used paypal for so many years i cant remember when i started. I use paypal here app to get paid by customers also. I would do transactions for $15,000 and never had a problem using it. Customers like getting flight miles and my prices were increased accross the board to cover finance charges. In all these years i have never had a fraudulent charge, or not get my money.

they have access to a separate bank account set up just for this. Never, i mean never, have i had any issues. Moneies show up within 24 hours.