It almost seems cruel to bring up PayPal in an article about payment processors. It's almost cruel to talk about them at all, really. Considering how frequently they've been slammed by lawsuits and considering how they are the only payment processor out there with entire websites dedicated to warning the world of their foibles, follies and flaws...you almost start to feel sorry for them...almost.
But seeing how PayPal has somehow managed to become the McDonald's of the finance industry, they are going to have to get used to falling under the microscope from time to time. We've learned to keep a close eye on anyone who gives us anything 'fast and easy' because there is always a catch.
In the case of McDonald's, the catch is heart disease and obesity. But for $20 and five minutes, you can feed your entire family without even putting it into park. With PayPal, the catch is that your money may be indefinitely frozen up on a whim and your processing rates will be higher than usual. But almost anyone can get an account there and start accepting payments instantly. Fast food, fast money. Both concepts are founded on one key element: desperation.
Obviously, there is a welcome place in our society for those who step forward to service us in our times of desperation. Money talks and both McDonald's and PayPal are fluent linguists. The only mistake is when we make these temporary fixes, permanent.
If you started your business and opted for a quick and convenient PayPal account to handle your credit card payments, and you've made it this far without them deciding to freeze your assets for some random reason, then it has probably served you well, but cost you plenty. But now that you're settled and you've got your business feet under you...it's time. It's time to put down the Big Mac and walk away.
You will find it easy at this point to call a traditional payment processing company, like National Processing, and talk to us about where your rates are and where they should be. The application process won't be instant, but it will be quick. Best of all, you will feel secure knowing that your money is being processed using stricter and more stable industry standards than PayPal offers. And don't forget...when you choose the healthy way...in terms of both food and finance, you are choosing longevity.