PayPal vs Stripe Pay DO NOT USE
Things you need to know about these two payment gateways and why they are not smart to use if you are selling a large number of products from different places. You need to that these two payment gateways are not for high price products above 200 dollars to keep your business afloat.
Starting out with PayPal and their bad gateway.
PayPal will try to protect you against chargebacks and customers that are just dirty thieves. Remember, banks do not care if the products are being shipped but they need to be shipped fast. Example: If a product will not get to a customer by 30 days max you might have an issue with customers that are nasty people for money and products. If the timeframe goes past this and tracking for products is not updated fast they will get impatient and chargeback with their bank. The problem with this is once an overseas product is shipped there is no turning back. If a customer chargeback stating Product Not as Described or the Product Not Received even though you got proof of tracking banks will the majority of the time back their customers which would be the customer. This is how they stop other companies that do not have the product protection and product insecure companies to back you. Not going to give what product insecure company we use you will have to research those yourselves.
Stripe Pay is no different they will process money but truly do not protect the merchant. People are thinking Stripe Pay is really for them but they are not fully. I have personally been told that these two gateways can not stop the banks from stealing money and most likely will not back the merchant only their buyers. So, both of these have the potential to lose your chargeback disputes.
The solution?: Make sure you find a product insurance company that will approve or disapprove customers through an approval system. Once they approve the products for sale to a buyer they become responsible for the sale. With this in mind, you can go into a control panel and file a chargeback on that customer so at the end of the month, your insurance company will pay you back for approving the bad customer.
Also, make sure and evaluate your products to see if they are considered high risk. If so, get a super high-risk payment gateway. PayPal and Stripe Pay are not super high-risk payment gateway. In my opinion, do not use PayPal and Stripe Pay periods as a payment gateway even for small sales.
There are solutions for all this and I think Payment Cloud tied with EMS using Authorize.net. On top of that adding a product protection system in place. Remember, Authorize.net still uses our American banks in the United States that love stealing money and rewarding their fraudulent customer’s items and money back. The way I see it if a product is bought from someone’s website the customer should have to abide by your terms. Banks do not care about your rules and process backs their customers even if they are thieves. At least if you have all these that I mentioned in place it should soften the blow.
We also think you should report these customers to a reporting site with all of their information showing the world online what they have done. This is not slander this is something you need to make sure you place on your site terms and conditions on what you will do if they chargeback. We added on the publication sites that chargebacks are illegal and will be pushed into collections on top of placed on reporting sites to expose them. if you get a Cease and Desist notice by a real lawyer from the customer then do not post anything else on the report that will slap their name.
This means no more negative push on them you can still type on the report but do not say anything else about an order or the theft itself. Actually, just leave that report alone after a real request has been made. They can not stop you from posting them as a product thieve but at least this will show them you are purely business and will take no shit.
Conclusion: You can not trust banks period they are not there for the merchant that does not use their banks as a gateway. Even as a customer of these banks they do not protect you but they will help you steal products and money.
Another solution is to just use Bitcoin on your site but remember a lot of people are not using it. Bitcoin will be going up in usage because people are stealing things left and right. Either has a super high-risk payment gateway like PaymentCloud or use Bitcoin. Bitcoin is dope because it kicks the banks in the ass and removes them as a middle man. Middle man means customers can lie and steal so be careful merchants and stay frosty.
I almost forgot one more thing get a collection agency that will take you on where they get paid if they can collect the funds. I have no recommendations at the time for this but this is important. The way I see if a customer is stealing from your online store with chargebacks then make their life hard. Get a collection agency to go after them to collect the funds when the product that is not returnable gets to the shipping address they provided. Even though you might get your money or not at least put them through the wringer and hit their credit score. Chargebacks should be against the law or at least regulated not by the banks.
Only use PayPal and Stripe Pay for small ticket items PERIOD!