Paypal ([ic] wells fargo epay)

JT Justman interchange-users@interchange.redhat.com
Fri Jan 11 21:00:00 2002


From: "Jim Balcom" <jim@idk-enterprises.com>
<<They were not going to let me out of there until I had gone through all of
the gyrations of setting up the account. I closed the browser window and
shut them off.
 I strongly suspect that once PayPal gets their mitts on your customer that
they aren't going to turn them loose.>>

Exactly. Customer must sign up for an account. Web Accept allows me to
"pre-populate" the customer's signup field but some input is still required
on the part of the user (you can's pass the customer's e-mail address, for
example).

<<There is also the problem that if you do more than $100 in transactions
per month where the customer uses a charge card then you have to go to a
business account. Once on the business account you have to pay for each
transaction in or out of your account, no matter the source of the funds.
This could get rather expensive.>>

Currently, I have a Paypal Verified Business Account  They charge 2.9% + 30¢
per transaction. This is less than what I've been quoted for merchant
account rates for a new Internet business. So, it's like merchant account
and payment processor in one, and it's cheap for that.

JT