March 30, 2007

Paypal goes Pro in the UK

by Brian Turner

Paypal have announced the launch of their Website Payments Pro system into the UK.

The system integrates a combination of merchant account as well as payment processor, and offers three main integration options: Express Checkout, Direct Payment API and Virtual Terminal.

While Paypal have received bad publicity in the past, not least because it is so commonly targeted by phishing scams, Paypal has fast shown itself to be a very serious consideration for SME’s.

Not least because Paypal ordinarily offers low transaction fees, zero annual fees, and prompt payments to business bank accounts.

This stands in direct opposition to one of the UK’s main payment processors, Worldpay, who have increasingly raised annual fees over the past few years, charge a higher transaction fee, and do not allow business owners to receive payment for weeks.

Though Paypal’s Website Payments Pro does normally charge a £20/month subscription fee, not only does this remain cheaper than Worldpay – it also offers extended options such as taking payments via phone or fax.

Overall, the expansion of Paypal’s services market in the UK has to be welcome, as the company continually builds up it’s reputation as the payment processor of choice for online purchases.

It remains to be seen, however, whether Worldpay will finally act on customer feedback and complaints about the limitations and high costs of its own service to offer something competitive in response – and also whether Google can finally persuade internet retailers that Google Checkout is not a threat to either their business or customer privacy.

Meanwhile, Paypal are encouraging new sign ups to the Website Payments Pro service by offering zero subscription fees until July 2007.

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Story link: Paypal goes Pro in the UK

 

Posted in: Business,Webmaster