In the past few years, we’ve finally started to see some worthy competitors for online payment processing to PayPal, the world’s most loved and most hated online payment processor. Companies like Stripe, Braintree, Arrowpayments and Square have all made their names noteworthy by offering better user experiences, beautiful designs, functional APIs and competitive pricing structures.
So, why would one still choose to implement PayPal, the age-old dinosaur notoriously known for its clunky UI from the 90s, high monthly and per-transaction fees, horror stories of customer service and frozen accounts, and disastrous APIs as the payment processor for their business?
Modern Design Push
In early July of 2012, PayPal unveiled a redesigned homepage that actually looked good. Since then, we’ve slowly seen the new UI branch out and replace some of the obviously-aging designs in various locations of the site. If all goes well, 2013 will prove to be the year we see a streamlined admin interface to make the PayPal user experience much more tolerable.
If you’ve been to Home Depot lately, you may have noticed that you can now pay for any of your rentals or purchases by using your telephone number and pin that is linked to your PayPal account. It’s not far off that PayPal will be placing a decal on the windows of select storefronts right next to Visa and Mastercard. This is no trivial undertaking; it will force PayPal to ramp up its technical and general customer service, hopefully resolving a lot of the issues regarding the way PayPal currently fields these situations. While this may be a convenience factor for some users, what it really means is…
The main reason I choose PayPal over any other processor (regardless of how established, useful and trusted they are,) is that 65 percent of my online sales have been processed using funds in a PayPal account. If that number were smaller, it would be much easier to say that people would simply pay with a credit card if PayPal wasn’t available, but most buyers are comfortable with PayPal and the convenience that it offers for a seamless transaction.
I have a feeling that 2013 will be a big year for PayPal. Don’t miss out by avoiding their payflow.