Introduction To The Bright and Darksiders of PayPal

PayPay is an online fast payment app that helps to send or receive money online safely and securely. After linking your bank account you can use the facilities provided by the PayPal app.

 Since 1998, PayPal has been giving consumers many ways to make purchases and send and receive money online. PayPal lets you pay online with a bank account instead of a credit card and keeps your payment information hidden.

Is there an advantage to using PayPal?

• Safe payment with PayPal 

PayPal app is a trustworthy app according to there  361+ million active users. Paypal says that consumer security is its top priority. There is a double verification feature along with code. 

The following point makes PayPal a trustworthy app 

1. PayPal Doesn’t share your sensitive transaction with any seller
2. Double verification facility 
3. Code before any transaction 
4. safeguard the full amount on eligible sales

• Various Financing choices

PayPal provides not only one but various financial choices even loans have 2 types

1. Working capital:  In working capital loan was provided between $1,000 to $125,000, only customers who have been using the app for at least 90 days can use this feature for its best
2. Business loan: this feature is mostly for small businesses they can take loans from  $5,000 to $500,000

Apart from loans, PayPal provides a card their use for using PayPal even in offline mode. PayPal offers a credit system that customers can use in the shop. PayPal friends and family,  a function that provides you no transaction interchange when you are sending or receiving from your close ones.

• Extensive online and personal payment solutions

Large-scale online and in-person company has expanded their capabilities to also offer offline and on-the-go payment services. This puts PayPal in an excellent position to partner with small businesses that are native to the online world but want to expand into brick-and-mortar offline businesses and vice versa. You can also enjoy the Paypal gift card facilities provided by PayPal. That can include coupon vouchors or popular companies like Amazon, wow skincare, dominos, etc.

• Help small businesses

Apart from providing loans to small businesses PayPal also provides a lot more helpful features like 

1. Marketing: pay pal provides small businesses with customized incentives at no extra cost 
2. Shipping: businesses get a discount on USPS and UPS shipping 
3. Tax computations: PayPal also calculates taxes for every transaction.
4. Recordkeeping: PayPal provide a transaction record that helps the user maintain a record.

Is there any downside to using PayPal?

There are a lot of positive features PayPal provides but there are also some disadvantages, those are

• An easy target for scams

There are some phishing scams that send you emails containing phishing links, According to a cybersecurity report by VadeSecure.  A businessperson should always update and should know how to identify the scammer. If you are facing this type of scam continually you should delete PayPal account as soon as you could.

How to deal with a scammer? How do we avoid them? What are the strategies? All this information is given on their website.

• Negative feedback for customer service 

Whenever you found any error or issue while using any app you immediately talk to customers because they listen to your problem and solve it as soon as possible. But this is not the case for PayPal customer service  Majority of people gave negative feedback to PayPal customer services. Which is not good for the reputation of the PayPal company. 

To avoid negative feedback, PayPal starts a Customer Service Message. There are its own pros and cons but the solving issue would be better by introducing a new feature. 

• PayPal’s transaction fees are confusing

PayPal provides a variety of options which leads to confusion. For example, cards have different policies and transaction rules, and the transaction due to the PayPal app has different. Apart from rules and features, their interchange varies on the option you are choosing for the transaction. 

• Costly Internation transactions

PayPal charger 1.5% per every international transaction acceptation including donations and charity. PayPal also charges an average of 3% to 4% markup over the current exchange rate for all transactions that involve currency conversion.

• Cant work in offline mode

In offline mode, it is very difficult to recessive or sends transactions sometimes. Many users complain about the non-performing offline mode. It becomes very frustrating sometimes and also dangerous what if you already took service and PayPal doesn’t work at the moment of payment. 

Read More :- Free Guest posting