Hello all. There was some talk awhile back about Paypal.com on the
discuss list, but I feel this update is more appropriate here.
Finally X.com merged the two websites into one this weekend, and
rolled out a new service as well that may be of interest to some RSPs.
First of all, a number of weeks ago, they created Paypal Business
Accounts for businesses to receive payments. The fees are only 1.9%
for received payments, no fees for sending payments to others or
making disbursements to customers/users/etc. Business account holders
can also do the auto sweep feature for an additional 0.6% where Paypal
will sweep the funds in the business account every night into your
existing bank account. Or you can save the 0.6% and login and make
your direct deposits to your bank (or request a check) for free (the
do-it-yourself plan :).
Now they added Web Accept, where business account holders can link to
a one-step process for people to make payments or buy things on the
business's website. They have a tool for making the links that is
very flexible and easy to use as well. This addresses the concern
many had that users had to go through about a 3 step process to make
payments via paypal. Now it is just one form, one step, and it's all
taken care of quickly and easily for the user. The user is even sent
back to your website afterwards automatically. As a bonus, if the
user has never had a Paypal.com account, and they make a payment using
Paypal from your site's link, you will get a $5 referral bonus as well
(with no limits on the number of bonuses).
Disclaimer: I am not employed or otherwise paid by X.com, I'm a happy
customer both personally and professionally, and have both checking
and savings (cd) accounts with them, as well as personal and business
Paypal accounts. I have been MOST happy with them, and the only thing
that would make their service better, for personal accounts, is to add
in the credit card access to Paypal account funds like Ecount.com has
(they issue a mastercard number that can be used anywhere to spend
your Ecount.com funds).
Services like Paypal will change the way smaller businesses and newer
business online can do electronic payments, in a much simpler, safer,
and cheaper way than has been available via traditional merchant
account services.
Consider me a proud customer, and glad to complement them.
-- Best regards, William mailto:william@userfriendly.com
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