Paypal vs Who?? reputable gateway with fast cleared funds?

[Sha.Daly]

Hi all
I currently use paypal but want to move away from them for several reasons, Can you recommend a reputable gateway which does not smash you on fees etc. One that also clears your funds quickly. The only big advantage of paypal is the instant payments but who else is fast

 

[The Byre]

I have heard good things about iZettle - though I have no first-hand experience of them.

 

[arnydnxluk]

There isn't really any service that can replace PayPal, unless you were only using them for card payments. Replacing it with a similar "wallet" type service isn't going to satisfy those who have an account with PayPal. Having said that, I think for most people PayPal is nothing more than a preference and they will continue to pay by card when PayPal is unavailable. Although there are of course a small amount of people who may refuse to purchase without the PayPal option available.

So, what kind of payment gateway are you looking for exactly?

For card payments I can recommend Stripe. There's also GoCardless which is a bit different as they allow your customers to pay by direct debit, this could be useful depending on what you're selling. These will cover two areas for you but as mentioned, neither will replace PayPal.

The only big advantage of paypal is the instant payments but who else is fast

There are some interesting things happening for payments on the web at the moment. Between "Apple Pay", "Android Pay" and the "Payment Request API", all of which are available or coming soon, web developers will have new options to let customers checkout quickly without entering any card details. It could be worth asking your web developer about some of these options.

 

[Sha.Daly]

There isn't really any service that can replace PayPal, unless you were only using them for card payments. Replacing it with a similar "wallet" type service isn't going to satisfy those who have an account with PayPal. Having said that, I think for most people PayPal is nothing more than a preference and they will continue to pay by card when PayPal is unavailable. Although there are of course a small amount of people who may refuse to purchase without the PayPal option available.

So, what kind of payment gateway are you looking for exactly?

For card payments I can recommend Stripe. There's also GoCardless which is a bit different as they allow your customers to pay by direct debit, this could be useful depending on what you're selling. These will cover two areas for you but as mentioned, neither will replace PayPal.



There are some interesting things happening for payments on the web at the moment. Between "Apple Pay", "Android Pay" and the "Payment Request API", all of which are available or coming soon, web developers will have new options to let customers checkout quickly without entering any card details. It could be worth asking your web developer about some of these options.

Lots of my customers dont want to use paypal, I believe paypal now exclude guest checkout as an option for customers who have used the same card 15 times. I guess i want something like sage or worldpay or similar but who dont hold your funds for 7 days 2-3 days is plenty ( or am I being naive? )

 

[arnydnxluk]

Lots of my customers dont want to use paypal, I believe paypal now exclude guest checkout as an option for customers who have used the same card 15 times. I guess i want something like sage or worldpay or similar but who dont hold your funds for 7 days 2-3 days is plenty ( or am I being naive? )

I believe you can achieve 2-3 day retention periods but it's not offered to everyone (I'm guessing you need a high throughput), you would have to get in contact with some of the payment processors to discuss potential options.

There is PayPal Website Payments Pro, it's a PayPal account with full card processing facilities. I used this a few years ago and if I remember correctly, the payout was made instantly into your account balance (just like receiving a normal PayPal payment) but they retained 20% for around 60-90 days. I'm sure the retention amount/period will vary depending on your industry but it could be something worth looking at. Other than PayPal Pro, every card processor I know of advertises 7-28 day retention periods as standard.

Hopefully a UKBF member with more experience in this area can help. I've seen a few members floating around who are in the card processing / payments in industry.

 

[andygambles]

We have PayPal Pro. £20 a month and removes the guest checkout problem. You can accept cards on your own site and use the API or use their hosted payment system.

To start with we had 20% funds held for 60 days. After 3 months asked for this to be shortened and it was to 45 days. Every 3 months we asked again until after a year we had no reserve funds held.

 

[mtools]

worth checking out braintree, who are a paypal owned company for card payments. at the moment they've got an offer on where your first £30k of cleared funds attract no fees then it's 1.9% + 20p and you can accept Amex, apple pay and android pay (though i'm struggling to get apple pay setup). the first settlement apparently takes 10 days (though i had it in about 5-7), then it's every 1-2 days that it goes into your account (bit longer for AmEx payments). definitely worth a look, i'm using that for the time being as it integrated well on my website.