When it comes to online payment systems, PayPal is the granddaddy of them all, with a history dating back to the late 1990s. To some users it’s the gold standard when it comes to online money transfers, and it seems safe to say it’s also the most universally accepted way of paying online in the financial and corporate community.
But PayPal has done far more than age gracefully-in the last two decades it’s become a major multinational financial technology company, and the system is used around the world in most of the countries that support online money transfers.
There’s more to the story, though, so let’s dive into PayPal and take a look at how works, some of the features it offers and what some of the issues are in using it. We’ll pay particular attention to recent developments with the PayPal app, and we’ll also delve into some of the issues that come up when money is categorized as pending, which effectively renders it in limbo.
What is it, Who Owns It and What are Its Subsidiaries?
To truly understand PayPal, it’s necessary to track through some history. PayPal was originally started as a company called Confinity that developed security software for hand-held devices. But success proved hard to come by in that market, so PayPal quickly shifted to become a digital wallet company. Success followed, and in 2002 PayPal was purchased by eBay.
That arrangement lasted until 2015, when PayPal once again became an independent company, held under the auspices of eBay shareholders. Last year it ranked 134th in revenue in the Fortune 500 list of the largest corporations.
In the past few years, PayPal has expanded its reach in the world of online payment apps. It now owns Venmo, Xoom, Braintree and iZettle, so if you do business and use a digital wallet program, chances are you’re conducting transactions with either PayPal or an entity that PayPal owns.
Opening an Account And PayPal Sign In
One of the reasons the PayPal Sign In process has been so popular is that it’s very simple to set up an account. All that’s necessary is filling out some basic information, adding a debit or credit card, and designating how you want to make payments.
It’s just as easy for sellers to set up a PayPal Sign In account that allows them to accept payments, and the universality of the system is one of its most attractive features.
Signing in is just as basic. A name, an email and a password will do the trick, which makes it hard to knock the simplicity of the PayPal Sign In.
The PayPal App, the Issues and Tradeoffs
Now let’s talk about the PayPal login app. It’s designed to allow users to perform more sophisticated financial transactions and maneuvers, including buying, selling and holding cryptocurrency, most notably Bitcoin.
The PayPal login app interface has been beefed up as well, although there are complaints about slow access and freeze-ups, so that part of the system is still in the shakedown stage.
The other major complaint about PayPal compared to other similar apps and services is the expense. PayPal rates start at 2.9 percent plus a transaction fee, and there’s no personalized service, although PayPal does offer a free mobile card reader.
Overall, the PayPal login app has been rated as a good system for low-volume merchants, but there is one other issue that’s considered particularly vexing.
PayPal Payment Pending : The Pending and Hold Problem
For small business owners, the problem of having payment money put on hold or classified as PayPal payment pending is definitely a thorny problem. It can really mess up their cash flow, especially when there are issues with getting funds released.
There are logical reasons for this, and why you see a status as ‘Paypal Payment Pending’ however. They include payments to an account that has been inactive, a payment that deviates from a business’s normal selling pattern, unusual price changes or customer problems with certain items.
PayPal may also stall payment for items that are considered high-risk, including consumer electronics, gift cards, tickets, travel packages and computers. In short, anything that’s either pricier or related to an event.
Generally speaking, if you see a status of PayPal payment pending, PayPal will release these funds within 21 days if there is no dispute, and business owners do have some amount of recourse. Adding tracking helps, as does adding shipping labels and giving the information to PayPal, and having a status update system in place can help as well.
The Payline Solution
There is another solution, however-use a system that basically functions as a PayPal workaround. Payline is one such system, and it definitely offers some significant advantages.
Start with the start-up process. There’s no application fee for Payline, nor is there a cancellation fee or a contract fee involving term length. Business is done on a monthly basis, and the first month is free.
Next up is the next-day availability of funds. That’s huge for business owners who have been caught up in the PayPal payment pending and hold spiderweb, because it allows business owners to do more rigorous and specific financial planning.
Payline’s pricing scheme is more transparent than PayPal’s, too. Some business owners may be able to get credit card transactions with zero extra charges, those who do incur extra fees will find them clearly laid out.
The Payline integration options are more sophisticated as well. They include direct integration into the vast majority of POS systems and shopping carts, and Payline information can be integrated into any version of QuickBooks.
Finally, the Payline solution includes a dedicated account manager to help business owners use the tools, and statement analysis is provided along with 24/7 support.
One last thing: Payline can also help with industries that have had their accounts frozen or shut down by PayPal. Some of these accounts have been shut down randomly, leaving the owners with no recourse when it comes to recovering their hard-earned funds. Based on all of these advantages, it’s more than worthwhile to check out Payline, so please continue to view our website or call (800)-877-3877 to get more information.