Review on PayPal by Abraham Jeremiah
PayPal is very Reliable for payments processing
Paypal has been in the payment processing service for a long time now, building customer trust in security, reliability, speed and accessibility. Almost everyone today knows of PayPal as it has managed to build a sustainable business plan for it's continuous existence. I think my first exposure to the outside world in terms of currencies was via PayPal as many merchants supported the use of PayPal for making transactions. I have used PayPal for close to five years now and I still use it for making payments to merchants or to receive from my people who I have worked for online and many people still prefer it as an option.
My issue with using PayPal is tranquillized around the transaction fees the platform charges. Making domestic transactions are completely free actually but with most of my contacts being based Abroad, the transaction fees that gets incurred with every payment is not funny. Getting to cash in my funds from PayPal is though easy, but in many African countries, there is no support for such and one will be further subjected to looking for options to cash in their funds from the platform. With cryptocurrencies in play, I don't see myself using the platform for my transactions but with many still clinged onto it, I will still be using PayPal. I like the security of the platform which has given me a boost to even storing some of my funds directly on PayPal in US
Pros
- PayPal has been in the payment processing service for long, building consumer trust in security, reliability and speed
- PayPal accounts can be accessed anywhere, mobile app or website
- Very secured platform with no history of a security compromise
Cons
- The fees associated with using PayPal is on the high side on both transacting sides especially when making international transactions
- PayPal is not made available worldwide, it limits it's network of payment servicing to major world regions
New products
Comments (1)
February 09, 2021
I wished you outlined the fees PayPal makes its customers to pay
This fees that are mostly being charged in fixed rates and in percentage makes it too expensive to use by small time investors.
This is why cryptocurrencies still beats out these companies
