The Wholesale Forums

[denislbg]

Paypal is too difficulty to promote in China due to China foreign exchange control policy. so they make a paypal.com.cn for Chinese user only .
For international business , it bring much troubles to Chinese user. And the service fee is high. But it is a choice for individual online shopping . For companies , they use L/C, T/T .

[ollieframpo]

Hi i was interested to no if there are any companies/organisations, that look after your money. Dont say a bank!
So you can have them take all your payments and send payments for you and then transfer it into your chosen acount at certain times, when you need the money.

I am in the process of setting up a business, and wouldnt mind having a different account run by a company that deals with all your payments, in one of there own accounts.

I hope someone understands,

Thanks Ollie

[anotheruser]

Hi, ollieframpo, I think you are describing something like a client account, as used by professional practices such as solicitors and accountants.

Unfortunately, they are not available generally. The banks don't like handling them - and they are the only people who are allowed to. They charge a lot of money to run them if they do allow you to open one, and they won't often allow them to be run as you want rather than how they want.

Also, the account holder is responsible for actually authorising any receipts in and payments out, so is also responsible for any mistakes made.

To get authorisation to hold other people's money, you have to be registered as a bank. Some organisations don't have the word "Bank" in their name, but that is what they are so the rules are very similar to those that govern high street banks. The only exceptions I am aware of are building societies, which operate under a separate set of equally stringent rules, and community credit groups (sorry, I forget their proper name), which have to be overseen by a bank and follow th same rules with just a couple of tweaks.

[wragge11]

I don't know if this has been said , but hey, I'll say it anyway!

Unless eBay let sellers use Google Checkout (which they won't), Google Checkout will not take off. The only other chance for Google Checkout is if it gets the backing of e-retailers such as Amazon and Play.com. If not, I can just see it being used for a a few transactions.

The truth is, PayPal is so easy for buyers, that sellers cannot afford to change to Google Checkout anytime soon.

[anotheruser]

Nice to see someone taking the controversial viewpoint, wragge 11. It's absolute nonsense, but it's nice to see it.

[wragge11]

Originally Posted by anotheruser

Nice to see someone taking the controversial viewpoint, wragge 11. It's absolute nonsense, but it's nice to see it.

But totally true!

[anotheruser]

wragge11, if it were true, so many large companies would not already be embracing Google Checkout. You are looking at a very small sector of the web transactions which go on. OK, those are important players within their own sectors, but they are not even dominant beyond their own sectors, let alone across the web as a whole.

I don't think Google will be shaking in its boots as a result of your theory. Nice try, though.

[BrandDirect]

Wragge11 if the whole world shopped in Ebay and God forbid then your little theory would hold true.

Back in the real world this simply is not the case. Outside of Ebay, most large corporations use payment processors from well established leading banks.

Whilst Paypal can of course offer this same service they cannot boast or prove that this is also the case outside of there own wee monopoly.

As for the comments with regards Googles impending failure. I feel you must wish to recant such statement. If you compare like for like then it is obvious that Google offers a far more attractive deal than Paypals. Not only is it cheaper and thats including next years fees but i feel it is a safer service for the buyer and seller. This will be the foundations of its growth over the years.

I offer both services on my site. If all proves well i can foresee myself ditching Paypal as i have found them to be a terrible company when it comes to being a seller.

The fact is Google offer a highly recognisable brand name to customer. 58% percent of all searches in the UK last month were through Google. Its a massive name. Pair this up with the price for the seller and there you have the foundations for what will be a successful company.

[Saajan]

I personally think that you cant compare PayPal with Google Checkout just yet. Google is offering free processing until January. But imagine in January, the fee's soar to a high figure such as 4.5% of the total + 20p what would your opinion be then about Google Checkout? Would you hate it cause of the fee's or would you like it because you hate PayPal?

[anotheruser]

They won't, Saajan. They have stated what their price is going to be. They are unlikely to renege and they will be cheaper than Paypal and many others, for that matter.