PayPal vs. VISA (Part 1)

Filed in archive Entrepreneurship on May 14, 2007

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Harry Goldburg also had this to say about my advice on Visa and Master Card:

I have to disagree once again. Yes, Paypal is a service that is capable of handling all types of credit cards, but they don't do it free. There is a fee involved, around the same as it cost to call in someone's credit card through a service. What makes Paypal "worse" is that they base their fees off of a percentage. Sell a product at a higher price ($100 or higher) and you can actually have Paypal take "more" than if you handled credit cards in your business. To further make my point, believing the world uses Paypal is a young man's folly. Most businesses (including Amazon...one of the most successful on-line businesses on the net!) don't let their customers use Paypal. It's ONE pay service out of several out there...and it's foolish business to think that everyone uses "one" service of payment.

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