So they just got added as a payment form for Amazon so that's definitely promising.
I had a small position with them as I used and liked their service for years. However, recently I had a bad experience with a bait-and-switch purchase (aside from automated replies, I never got anywhere and just accepted the financial loss.).
More important, in addition to their fees for money transfers, they reduced the amount that I could transfer per transaction. So, I had to pay 5 separate transaction fees to transfer the amount that I needed to. It was time sensitive so I did not have time to check around thoroughly. I have since found a service that let me connect my bank automatically, didn't charge a fee, and gave me a better rate than what paypal gave me.
So not only am I no longer investing in PYPL, but I'm no longer using them for purchases, money transfers, or anything else. Now I'm just one user and maybe I'm a unicorn, but I imagine there are other customers having similar experiences and leaving their service for one of the better options out there. When I googled the transfer cap, I found a lot of pissed of queries about it.
This isn't me venting, but just offering my own take on why paypal may not grow and may even shrink in the future.
Leave a Reply