Rid Bonanza of Paypal!

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5 comments

  • Stoneponies

    What is wrong with offering both? Many people still use PayPal.

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  • VeronicaBooksAndArt

    Paypal is the #1 payments processor in the world.  The other sites use Adyen, #7.

    Yes, Paypal's fees went up.  And if you want instant transfer of funds, that fee is now 1.5% (used to be 1%)

    But for seller protection, Paypal is the only game in town.

    Or go sell on eBay and get scammed.  Good luck with their customer service.

     

     

     

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  • VeronicaBooksAndArt

    I'll be eating popcorn on Bonanza while watching Etsy, Mercari and Paypal eclipse eBay.

    eBay doesn't own Paypal; Paypal refused to renew the contract with eBay over processing payments.

    Paypal is trying to buy Pinterest and turn it into a marketplace.

    I sell on Bonanza and have a Shopify website.  I'd sell on Paypal's Pinterest.

     

     

     

     

     

     

     

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  • Backyard_Science_2k

    PayPal is indeed owned by eBay. Look it up if you don't believe me. eBay isn't going anywhere. Every person I know who has sold on bonanza quit and moved to eBay because bonanza is so backwards. Bonanza puts all of their eggs in one basket, only using 1 payment option now. Making stripe useless here. While on eBay we can use a different payment option every week. If my PayPal gets locked, I'm not being starved of funds. I can just switch to any of the various other options for deposits. But here? Nope. If PayPal chooses to be idiots and lock your account, you're screwed. I have mercari and sell a lot on there. No need for PayPal there either. Etsy is ok, but they have a tendency to delete seller account that sell things they they don't agree with. I'd never sell on a platform where I could be censored for selling something that a random employee didn't like. I have a Shopify website too. It's ok I guess. Definitely nowhere as profitable as eBay. Out of them all, e at has given us the most exposure and profits. $8k/month vs $4k on all other platforms combined. Even with the same amount of advertising spent on all platforms. Numbers don't lie. eBay is superior simply due to the number of options available and it's reputation. The only one we don't use is Amazon and that's for personal reasons. Maybe now that Jeff doesn't man the CEO position anymore we may consider going there, but not for now.

    But yeah, eBay does own PayPal. If you don't believe me then Google it. It's very well known. PayPal refusing to renew a contract and eBay doing away with them as an option for payments for sellers is basically eBay cutting ties with its own company that it owns. If your parent company doesn't want anything to do with you after you've refused to do something, then something is very bad wrong. Like I said, just go to PayPals Facebook page and view the comments on any of their posts. You'll find hundreds, if not thousands complaining about payola robbing them. There are even several lawsuits going on with them right now. Now I'm not saying to not use them. They're still useful. Just never leave money in PayPal. As soon as it deposits, take it out. I tried telling this to so many people and they ignored it just to find their account locked and they couldn't touch their money for half a year or longer. Thousands of dollars locked. Some even lost their homes because of it. Give it time and it'll happen to you as well. Maybe not today or tomorrow. But it seems to happen with every person I've ever met who uses them.

    Just like with anything else, people are going to go with what they know and trust. eBay has been around for going on 3 decades and isn't going anywhere. Amazon is the only one bigger than eBay and those two top spots aren't changing anytime soon. As I said before, it's a numbers game and bonanza putting All their eggs in one basket is the worst thing that they could do. It'll hold them back considerably. Just go around town and ask people which they've heard of. eBay or Bonanza. See what they say. Nope, eBay isn't going to "burn". If any of them do, it'll be bonanza.

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  • VeronicaBooksAndArt

    As an aside, Walmart eclipsed eBay some time ago.  Etsy is well over half eBay's size.  Paypal is 10 times the size of eBay.

    I like Paypal.

     

     

     

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