PayPal.com was started in 1998 and it became so popular that it was acquired by eBay. Paypal has a large user base today and has become one of the de-facto standards for e-commerce sites. I am a Freelancer and I opened a PayPal account to send and receive payments to clients online.
Paypal has made life so much simpler online for website stores that can’t support expensive credit card processing on their websites. With credit card processing comes credit card fraud checks and various other security validations which are even more expensive.
I have had just one negative experience with paypal, that was in struggling to get my account Limited Account Access removed. In this state I could not send and receive payments or withdraw them directly to my bank account. When asked why, they mentioned that it was some security measures, where they regularly screen your paypal activity. I then visited the Paypal Resolution Center only to find out that I was asked Additional Information to remove my Limited Account Access. I was asked to Fax Proof of Business Registrations, proof of residence and my latest credit card statement for the card that was registered with paypal.
I had a problem here which was Proof of Business Registrations. I told them that the “Proof of Business Registrations” was not applicable for me since I am a freelancer and not registered to any Business and that I would fax the other documents the next day. To my surprise they told me that they were sorry and can’t lift my account access limitation as they needed some kind of business proof. I had no choice but to create a detailed report stating proofs for all my online transactions including client email addresses and my website name and services. I prepared a document and faxed them the very next day. Every minute detail that I could think was put forth in the document about the kind of online freelancing services I offer.
4 days later comes an email saying “Your PayPal Account Access Has Been Restored”. That was a sign of relief for me. Now I can freely send and receive payments online using paypal. I sometimes wonder why they require all this information as they are not a bank, but just a facilitator for transferring money on the Internet. They get their commission on each transfer and they should be happy with that. It’s just a thought and nothing against Paypal as I solely depend on them for my online payments even though they charge large transaction fees.
Its a good system for making payments but a bad one for receiving payment!. Since I live in India, I find Paypal inconvenient because of their;
- Huge Transaction Fees
- Making ISD Calls to Customer Support to resolve issues like the ones mentioned above.
A small tip for Online Freelancers who don’t have a website displaying their services;
- This service is preferred by many overseas clients, so it is worth having a paypal account.
- Always withdraw money from your PayPal account immediately to your bank and maintain a zero balance, because your account can be locked / frozen/ limited any time.
I like the idea of having a receipt sent to me to verify that payment was made. This acts as a proof against a fraud seller.
Also another good thing about paypal is if there is a BONUS. You can receive a $5.00 bonus when your friends and family sign up and qualify via the requirements.
I would like your comments on other online payment processing systems such as ccavenue, Alert Pay, Eglod, money bookers, stormpay etc.
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[...] Paypal | Online Payment Processing Systems PayPal.com was started in 1998 and it became so popular that it was acquired by eBay. Paypal has a large user base today and has become one of the de-facto standards for e-commerce sites. I am a Freelancer and I opened a PayPal account to send and receive payments to clients online. Paypal has made life so much simpler online for website stores that can’t support expensive credit card processing on their websites. With credit card processing comes credit card fraud checks and various other se [...]
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