PayPal Integration! How Safe?

lounge

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after not being able to know where exactly i should post this.. i choose to put this thread here.. mods please relocate this if you find more appropriate place for this query..

via paypal we can withdraw funds to our local indian banks.. 11 indian banks are listed at paypal for transfer..

i have successfully integrated paypal checkout in my website.. but i have read some reviews where people have horror stories about their transactions with paypal.. money getting delayed a lot, chargebacks on transactions..

well, i just need to know what TE member think about this.. have they any experience with any such transaction or heard about such things with paypal..

what other good free payment gateways are there for transacting with foreign currency??

its a huge topic, lets see where this goes...
 

RiO

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Those stories you have heard are related to the US. In India, try disputing a charge and the bank will make you look like a criminal.

Online payment solutions will take time to take off in India - Baazee tried it and failed, now eBay India is experimenting and while they're seeing some success, PaisaPay is still not a preferred payment method. India's current situation is similar to how the US reacted to PayPal in 98-99 when it first launched. Although, eBay's acquisition of PayPal and making it their preferred payment option (wiping out the rest of them) really increased PayPal's growth and usage in the US.

About PayPal's safety, I have worked on the platform since 2002 and I trust it more than I do Indian banks ;)
 

lounge

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RiO said:
About PayPal's safety, I have worked on the platform since 2002 and I trust it more than I do Indian banks ;)
hmmm.. but i am not just talking about receiving or sending payments through paypal.. i don't know if u meant that by what u said..?

my website process is -

through my website which shall facilitate a web cart and one can gather products in it, put his/her billing/shipping address, tax and shipment is calculated and there upon at checkout process the system takes it to paypal checkout.. (which i have configured as a payment option for the website. VIA: paypal IPN - instant payment notification)

so this is how i planned things to work until i heard some bad experiences people had with paypal..

so, just need to know couple of things precisely-

1. If anyone has the current system i mentioned above for getting payments via paypal in their indian bank for selling good or services through their websites? and whats your experience?

2. How long does it take actually, as against 5 to 7 business days officially stated by paypal, for getting the money transfered to our local bank accounts?(if someone has got the money this way regularly)

3. what is a preferred way practically, inviting less hassles - paypal check or direct electronic transfer of the money in the bank account?



4
. How about google checkout? or other payment gateway options like ccavenue, icici, hdfc checkouts.. is it economical & easy to get them?

5. Do i have to have IEC (import export code) and other lagal stuff like softex form submission etc for such international money transfer? (i just want to do everything legal in the light of law)

I know these are too many questions.. if u guys can answer any of the above asked questions.. that will of great help..

rest i am doing my bit of research and shall keep posting here my inputs..

i basically want to start transacting through my website asap.. which is getting delayed cos of this issue..

thanks all..
 

coolraghav

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Paypal is best ..trust me on that..

I'm using it for my web rnbload.com ..works jus fine
 

Ashish.K

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The best thing i like about TE is whatever is in your mind, you get it here on TE :)

Day before yesterday, i was discussing different probabilities of collecting payments online.

We zeroed on

1)Credit Card Payments

2)Netbanking

3)Paypal

4)Google Checkout

We were very sure about the security of option no. 1 & 2 but were a little dicey for implementing option no. 3 & 4. I will be watching this thread very closely. Also, i'll be updating the thread with my findings and will appreciate the same thing to be done by others too.

Cheers
 

lounge

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coolraghav said:
Paypal is best ..trust me on that..

I'm using it for my web rnbload.com ..works jus fine
could you please elaborate on certain things like -

1. where u live india or abroad? if india, then which state please

2. if in India then,do u withdraw money to your indian bank directly from paypal in INR? or u request for a paypal check? or u rather use ur money from paypal to buy things directly online?

3. If money transfer to indian bank, then which bank u have your account in and how long does it take for money to get transfered?

4. any bad experiences u had with paypal transactions??

thanks!!
 

Amaresh

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I've had no problems with Paypal since I began using it nearly 4 years ago. Only once my account was limited, but that issue got resolved within a few days of faxing them the required documents such as Passport, Utility bill etc.

Also I've withdrawn around Rs 1.5L to my bank acc via Paypal via Wire Transfer, and usually I've seen the money arrive in 3-4 days. (HDFC Bank)
 

varkey

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I have used the Paypal bank withdrawal option many times and its pretty fast. It just takes maximum 2-3 working days. It gets credited to my ICICI account without any issue.

About chargebacks etc I have many instances where paypal would just open an investigation on a transaction and the funds wont be usable for a week or two until paypal closes the dispute. I even had problems when the user opens an "unauthorized account activity claim" and Paypal simply took away the money from my account. :(

Google Checkout is nice but presently I dont think its available for Indians.

Which countries does Google Checkout support?

If you are targeting an Indian user base it would be better to use Netbanking and CC for payments.
 

lounge

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Amaresh said:
Also I've withdrawn around Rs 1.5L to my bank acc via Paypal via Wire Transfer, and usually I've seen the money arrive in 3-4 days. (HDFC Bank)
thats a good news..

could you please elaborate a bit more on this if you may --

your bank's name, how u withdraw generally, is it a savings or current account.. cos then there are more legal jargons involved..

thats it..

i am beginning to build some confidence now.. with such responses.. great guys.. thanks a ton..
 

lounge

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my customer base shall be indians only for one website and for another all over the world.. shall accept payments in dollars and euros too.. so the scene is quite wide for my websites..
 

Amaresh

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lounge said:
thats a good news..

could you please elaborate a bit more on this if you may --

your bank's name, how u withdraw generally, is it a savings or current account.. cos then there are more legal jargons involved..

thats it..

i am beginning to build some confidence now.. with such responses.. great guys.. thanks a ton..
Well, the 1.5L that I've withdrawn has been in 3 installments. Bank is HDFC, and it is a savings account. I've seen the conversion rate offered being marginally less, although they don't charge any additional fee when withdrawing sums larger than 7k (for <7k , a Rs. 50 sum is deducted).

I withdraw using the online (wire) transfer as it's much more reliable, faster and safer than getting cheques which can get lost sometimes.

The amount usually gets credited to my account within 3-4 business days.
 

random2

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Nov 1, 2006
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I use plimus for selling a software. Im not sure about your product/services, but if its not a physical product, payment processors like Plimus are pretty good.

But they are quite expensive compared to Paypal or Google. My clients are mostly businesses (mostly European) and usually dont like to use paypal. So im sticking with this. Their customer service is very good. I get replies or solutions to problems within few hours of mailing them (I have had just couple of probs in ~3years).

For getting the money, they have the usual options - Wire transfer, Check, prepaid cards and also paypal.
 

Arya

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Aug 14, 2006
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Go with paypal if transaction is of small volumes. CCav is next option but they charge 5-7% transaction fees. CCav will transfer $$ to your bank account. I use both, paypal for transactions upto 200$, rest processed by ccavenue.

Paypal offers wider integration than any of its competitors. It doesn't accept INR...thats the only problem. My customer base is mostly at US, Europe and Australia so choice should be pretty easy.
 

coolraghav

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I'm from Delhi ..lounge..i have ICICI a/c ..no issues till now.

there's generally $500-$1500 being getting credited/debited into PP a/c in a month...

I cant tell more..coz me aint paying tax :p lol (j/k)

Dont listen to Amaresh...he is big fraud :p ... he doesn't even have PAN card !
 

lounge

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some conclusions i have drawn..

1. PayPal is good until the transactions are not in INR and the client base is outside india..

2.PayPal seems secure and transfer of funds do happen in time and correctly..

3. We may have to wait untill paypal starts accepting transactions in INR.

4. PayPal charges 3.9% + $0.30per transaction and its currency conversion rates are slightly less than normal.. but paypal is more economical than other gateways like ccavenue etc and ways like western union money transfer..

Few more questions -

1. just go through - Paypal Problems, Information, Issues, Class Action Lawsuits - PayPal n tell me how you feel about the authenticity of this website..

2. another link - PayPalSucks.com is where you will learn about the PayPal Class Action Lawsuit, Abuse, Fraud & evil behind the PayPal system! and Horror Stories: PayPal Did it!

2. can u suggest me any sites which are selling goods by indian to indians for indians using paypal.. i mean for physical good.. not services.. cos i guess indians would want to transact in INR than dollar...

3. which is the best indian payment gateway like ccavenue, icici checkout etc.. which is best n most cost effective n easy to acquire?? any eperiences?

thanks mates
 

varkey

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There is lot of Paypal fraud happening. As I mentioned earlier paypal can just put a hold on the funds for NO reason. They ll simply open a dispute and the funds maybe blocked for some time.
 

Arya

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varkey said:
There is lot of Paypal fraud happening. As I mentioned earlier paypal can just put a hold on the funds for NO reason. They ll simply open a dispute and the funds maybe blocked for some time.
Keep your transactions acceptable only from verified accounts....I've rarely had a problem with paypal. Support is a bit slow...but professional. Paypal doesn't put money on hold, its people who you're dealing with.

ccavenue is easy to setup and deal with. They got good support too. ICICI guys create too much jhamela for no reason. I think they charge more too. dealt with them only once