DesElms
12-26-2004, 11:44 PM
I am providing the following purely as informational. Those who know me around here will tell you (or those who do a search on my username, will easily see) that I'm in no way associated with Paymentech, and am in no way any kind of shill for it. I'm posting this simply because I think it's interesting and relevant considering the many PayPal threads we always see around here.
This, I believe, is a first-ever sort of thing which, it would appear, will take alot of the merchant fear out of accepting PayPal. Or will it? Until details are disclosed, the biggest questions begged would seem to be: How, precisely, will Paymentech's PayPal integration be different from the manner in which one currently integrates PayPal into one's site?
Using this feature, will the merchant be able to accept PayPal payments through his Paymentech merchant account without actually having a PayPal account himself; and, if so, will this mean that Paymentech merchants will now be able to accept PayPal with no fear of having their money frozen like so many who have used PayPal claim often happens for no apparent reason? Will this feature finally take all the risk out of accepting PayPal?
Will PayPal's rules for what types of merchants they will allow to use their service still apply; or will Paymentech's standards -- even if they're different from or more lenient than PayPal's -- be what governs the arrangement.And I'm sure that others can think of similar questions. Here's the article:Paymentech to offer PayPal in 2005
Deal Gives Merchants Access to More than 56 Million PayPal Accounts
DALLAS and SAN JOSE, CA - Paymentech has announced that it will offer PayPal's online payment service to its merchant customers in early 2005. With this agreement, Paymentech now gives Internet merchants a full range of payment options, including popular forms of payments such as electronic checking and gift cards in addition to PayPal.
Paymentech, which processes more than half of all Internet transactions, is the first merchant acquirer to resell and fully integrate PayPal's online payment service onto its proprietary processing platform. The new arrangement will give online merchants access to a consolidated settlement and financial reporting system but will not require a large capital outlay or new processing infrastructure.
"PayPal has more than 56 million accounts around the world, which translates to new buyers and incremental sales for Internet merchants," said Scott Cruickshank, Paymentech's chief marketing officer. "Our goal is to offer merchants the broadest range of payment methods, and through this agreement, that's exactly what we are doing."
"We're delighted to work with Paymentech, because they are the leading online processor in the e-commerce industry," said Todd Pearson, general manager of merchant services for PayPal. "By offering PayPal, Paymentech provides merchants 'one-stop-shop' access to any payment method they choose to offer. Merchants who add PayPal through Paymentech will find that it's easy to integrate, cost-effective and opens the door to millions of online shoppers around the world."
Paymentech will offer PayPal to existing customers as well as potential new merchant customers beginning in early 2005.
Source: http://www.paymentech.com/new_prerel_2004_paypal_page.jspIt will be interesting to see how this all plays out, will it not?
And dare I ask: Given the plethora of Paymentech horror stories -- albeit fewer than PayPal horror stories -- is this just one bad actor hooking-up with another to create an even larger problem than before? Or will this move suddenly make accepting PayPal painless -- that is, if you like Paymentech?
This, I believe, is a first-ever sort of thing which, it would appear, will take alot of the merchant fear out of accepting PayPal. Or will it? Until details are disclosed, the biggest questions begged would seem to be: How, precisely, will Paymentech's PayPal integration be different from the manner in which one currently integrates PayPal into one's site?
Using this feature, will the merchant be able to accept PayPal payments through his Paymentech merchant account without actually having a PayPal account himself; and, if so, will this mean that Paymentech merchants will now be able to accept PayPal with no fear of having their money frozen like so many who have used PayPal claim often happens for no apparent reason? Will this feature finally take all the risk out of accepting PayPal?
Will PayPal's rules for what types of merchants they will allow to use their service still apply; or will Paymentech's standards -- even if they're different from or more lenient than PayPal's -- be what governs the arrangement.And I'm sure that others can think of similar questions. Here's the article:Paymentech to offer PayPal in 2005
Deal Gives Merchants Access to More than 56 Million PayPal Accounts
DALLAS and SAN JOSE, CA - Paymentech has announced that it will offer PayPal's online payment service to its merchant customers in early 2005. With this agreement, Paymentech now gives Internet merchants a full range of payment options, including popular forms of payments such as electronic checking and gift cards in addition to PayPal.
Paymentech, which processes more than half of all Internet transactions, is the first merchant acquirer to resell and fully integrate PayPal's online payment service onto its proprietary processing platform. The new arrangement will give online merchants access to a consolidated settlement and financial reporting system but will not require a large capital outlay or new processing infrastructure.
"PayPal has more than 56 million accounts around the world, which translates to new buyers and incremental sales for Internet merchants," said Scott Cruickshank, Paymentech's chief marketing officer. "Our goal is to offer merchants the broadest range of payment methods, and through this agreement, that's exactly what we are doing."
"We're delighted to work with Paymentech, because they are the leading online processor in the e-commerce industry," said Todd Pearson, general manager of merchant services for PayPal. "By offering PayPal, Paymentech provides merchants 'one-stop-shop' access to any payment method they choose to offer. Merchants who add PayPal through Paymentech will find that it's easy to integrate, cost-effective and opens the door to millions of online shoppers around the world."
Paymentech will offer PayPal to existing customers as well as potential new merchant customers beginning in early 2005.
Source: http://www.paymentech.com/new_prerel_2004_paypal_page.jspIt will be interesting to see how this all plays out, will it not?
And dare I ask: Given the plethora of Paymentech horror stories -- albeit fewer than PayPal horror stories -- is this just one bad actor hooking-up with another to create an even larger problem than before? Or will this move suddenly make accepting PayPal painless -- that is, if you like Paymentech?