> PayPal is not for entrepreneurs and I should of known better than picking them as a choice.
I don't think PayPal can be blamed for being aware that there are already thousands of small time deal sites and most have no discernible business model whatsoever, not even a potential future buyer.
Frankly, you have no idea what the rate of chargebacks is. You've barely run the thing yet. I would expect the company that processes millions of transactions a day to know what puts them at risk for chargebacks. I also don't see daily deal sites having a high rate of chargebacks is such an outrageous idea. Sounds pretty reasonable to me, they are exactly the kind of customers who would file a chargeback.
I'm no fan of PayPal on the vendor side either, but this sounds like poor planning to me. Not factoring in a 2nd payment processor just in case you have trouble with the first one is a bad idea, especially when you are in such a risky, fast-growing sector.
Comments
> PayPal is not for entrepreneurs and I should of known better than picking them as a choice.
I don't think PayPal can be blamed for being aware that there are already thousands of small time deal sites and most have no discernible business model whatsoever, not even a potential future buyer.
Frankly, you have no idea what the rate of chargebacks is. You've barely run the thing yet. I would expect the company that processes millions of transactions a day to know what puts them at risk for chargebacks. I also don't see daily deal sites having a high rate of chargebacks is such an outrageous idea. Sounds pretty reasonable to me, they are exactly the kind of customers who would file a chargeback.
I'm no fan of PayPal on the vendor side either, but this sounds like poor planning to me. Not factoring in a 2nd payment processor just in case you have trouble with the first one is a bad idea, especially when you are in such a risky, fast-growing sector.