PayPal

Welcome! Forums Bazaar Transactions PayPal

This topic contains 2 replies, has 1 voice, and was last updated by  Anna 1 month, 1 week ago.

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August 13, 2015 at 3:06 AM #23215

Anna

PayPal is a “virtual bank” launched in 1998 as a privately held company serving eBay and many other merchant clients. It “went public” [shares traded by stock exchanges] in 2002 and was soon acquired by eBay. In July 2015, eBay “spun it off” as a separate entity again.

At least for now, PayPal is the ONLY “gateway” for the THP Bazaar. Why?

Security Advantages

One can only imagine the extreme steps taken by industry geniuses to protect eBay and PayPal from hacker attacks. While databases of retail giants like Target and even US government records have been compromised, they stand invulnerable. Both are automatically “trusted” by my own personal firewall, Zone Alarm, a (THE?) leading application in its field.

Advantages For THP

  • Eliminates the annual cost of a dedicated secure-socket [https] server and related certificate plus time-consuming hassle of setting up multiple software systems to manage transactions charged to various credit/debit cards.
  • Organizes all sales transactions in one place for simplified analysis and distribution of royalty payments.

Advantages for Patrons

  • Free.
  • No financial information is requested until the Purchase button is clicked.
    • This click instantly invokes PayPal’s super-secure server.
  • PayPal account not required; instead, patrons may pay with any major credit/debit card:
    • Visa, Mastercard, Discover, AMEX, Maestro.
  • Automatic conversion of international currencies.
  • Immediately after payment is verified, an eMail with download instructions is issued.
  • Instant receipt via eMail.

Advantages for Partners

  • Free PayPal debit card for ATM cash withdrawal or routine payments online or at retail outlets.
  • Optional instant royalty payment (fee deducted).
    • Otherwise, royalty payments will be paid weekly or monthly (no fee?).
  • Liberal IRS regulation compliance (Form 1099).
  • Related EDD Security Features
    • The download link is invisible to patrons, so it cannot be “shared” with others.
    • By default, a patron’s THP Bazaar account page allows an unlimited number of re-downloads.
    • Partners may limit this functionality to the IP address of the device used for the original transaction.

Disadvantages?

The only one I foresee at this writing is that some options may involve fees. PayPal fees are usually minimal and may be justified in certain scenarios involving certain Partners. I will do my best to understand/explain “trade-offs” as they arise and to keep them optional for each Partner.

To-Do

I must compose and publish a “help” page explaining PayPal policies and procedures to patrons.


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September 23, 2015 at 5:12 AM #24318

Anna

An afterthought for Partner PayPal accounts…

If you don’t already have a *free* PayPal business account, it may be wise to enroll ASAP.

Who knows? Now that eBay has “spun it off,” there may be a sudden one-time—or even a periodic—charge for this option.

In the banking industry and elsewhere, future Bad News is often waived for existing account holders, who are “grand-fathered” and immune from policies affecting only new ones “from now on.”

https://www.paypal.com/webapps/mpp/referral/paypal-business-account2


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