17 min
Paypal and Venmo are Not Ideal Payment Processors For Your Business Keep What You Earn
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- Entrepreneurship
We are taking a deep dive into the world of payment processors. If you're a business owner, you know how important it is to have a reliable and secure payment processor. However, PayPal and Venmo may not be the best choice for your business, and in this episode, I'll tell you why.
I cover the top 3 reasons why these platforms may not meet your business needs, including legal terms, seller protections, and professionalism. I highly recommend exploring other payment options that offer better seller protections and are specifically designed for businesses. Tune in to discover more!
What you'll hear in this episode:
[0:55] I a not a fan of PayPal or Venmo for business transactions and today I will inform you why.
[2:46] What are the top 3 reasons that I do not feel that you should use these platforms?
[3:05] Reason #1: The details in the legal terms of these platforms.
[5:05] Reason #2: Seller protections for disputes or chargebacks, specifically if you are a service-based business.
[8:53] Reason #3: As a customer of a business, it's not very professional paying through Paypal or Venmo.
[10:50] Venmo and Paypal are not giving your customers options on how to pay for your services.
[13:00] Lower the barrier for your customer to pay you and work with you.
[15:15] If you are paying for another business's products or services through Paypal, does this put you as the customer in jeopardy?
* Related episodes:
Things You Should Not Hire an Accountant to Do
Growing Your Side Hustle with Nick Loper
Knowing Your Numbers: Three Key Dimensions Every Entrepreneur Should Focus On
* Find everything you need at https://www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/
* Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa
* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so/
* Hire us: https://www.fitnancialsolutions.com/accounting
* See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator
* Find me on IG https://www.instagram.com/shannonkweinstein/
* Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
We are taking a deep dive into the world of payment processors. If you're a business owner, you know how important it is to have a reliable and secure payment processor. However, PayPal and Venmo may not be the best choice for your business, and in this episode, I'll tell you why.
I cover the top 3 reasons why these platforms may not meet your business needs, including legal terms, seller protections, and professionalism. I highly recommend exploring other payment options that offer better seller protections and are specifically designed for businesses. Tune in to discover more!
What you'll hear in this episode:
[0:55] I a not a fan of PayPal or Venmo for business transactions and today I will inform you why.
[2:46] What are the top 3 reasons that I do not feel that you should use these platforms?
[3:05] Reason #1: The details in the legal terms of these platforms.
[5:05] Reason #2: Seller protections for disputes or chargebacks, specifically if you are a service-based business.
[8:53] Reason #3: As a customer of a business, it's not very professional paying through Paypal or Venmo.
[10:50] Venmo and Paypal are not giving your customers options on how to pay for your services.
[13:00] Lower the barrier for your customer to pay you and work with you.
[15:15] If you are paying for another business's products or services through Paypal, does this put you as the customer in jeopardy?
* Related episodes:
Things You Should Not Hire an Accountant to Do
Growing Your Side Hustle with Nick Loper
Knowing Your Numbers: Three Key Dimensions Every Entrepreneur Should Focus On
* Find everything you need at https://www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/
* Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa
* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so/
* Hire us: https://www.fitnancialsolutions.com/accounting
* See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator
* Find me on IG https://www.instagram.com/shannonkweinstein/
* Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
17 min