Paypal and Venmo are Not Ideal Payment Processors For Your Business
May 03, 2023We are taking a deep dive into the world of payment processors. If you're a business owner, you know how important it is to have a reliable and secure payment processor. However, PayPal and Venmo may not be the best choice for your business, and in this episode, I'll tell you why.
I cover the top 3 reasons why these platforms may not meet your business needs, including legal terms, seller protections, and professionalism. I highly recommend exploring other payment options that offer better seller protections and are specifically designed for businesses. Tune in to discover more!
The key takeaways from this episode are:
1. PayPal and Venmo may not be the best payment processor options for businesses due to legal terms, seller protections, and professionalism concerns.
2. It's important to explore other payment options that offer better seller protections and are specifically designed for businesses.
3. Lowering the barrier for your customers to pay you can improve your payment processing experience and make it more convenient for your customers.
What you'll hear in this episode:
[0:55] I a not a fan of PayPal or Venmo for business transactions and today I will inform you why.
[2:46] What are the top 3 reasons that I do not feel that you should use these platforms?
[3:05] Reason #1: The details in the legal terms of these platforms.
[5:05] Reason #2: Seller protections for disputes or chargebacks, specifically if you are a service-based business.
[8:53] Reason #3: As a customer of a business, it's not very professional paying through Paypal or Venmo.
[10:50] Venmo and Paypal are not giving your customers options on how to pay for your services.
[13:00] Lower the barrier for your customer to pay you and work with you.
[15:15] If you are paying for another business's products or services through Paypal, does this put you as the customer in jeopardy?
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Resources:
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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
