Something strange is going on at the California based payment processing company Paypal. People use the company to process financial transactions online, to avoid having to give different online merchants their credit card information. However, small and midsize businesses such as online stores and auctions are using Paypal as well to process financial transactions for the products they sell online, but to disastrous results.
I have read of cases regarding people with online stores selling items over the internet using PayPal to accept the credit card payments, then shipping the products out to customers, only to have PayPal mysteriously reverse the payments weeks or months later. Small and midsize online stores are getting burned by PayPal as they ship out the merchandise to customers, then the credit card payments get reversed by Paypal, leaving them with no money for their sales and no merchandise, as the customer already has it in their possession.
Let that sink in, there are a number of cases popping up regarding Paypal, not the paying customers reversed the financial transactions, after the customers received the merchandise, leaving online merchants without the merchandise or money for their hard work.
I've seen documentation of this with my own eyes. After Paypal collects the money for the credit card transactions, plus transaction fees and the cash is sitting in their corporate bank accounts gaining interest, weeks or months later they reverse it, then feed the online store owners lines like they didn't sign up for Paypal correctly or didn't complete sign-up. Oh really?
My question is, if someone signs up for Paypal, provides their name, address, identification, bank account information, company registration and you Paypal give them the necessary processing codes to place on their site to allow Paypal to accept credit card payments on their behalf, how did they not sign up correctly? What kind of fraud is Paypal running and they've taken the fraud worldwide, defrauding private citizens selling items and online store owners. Therefore, the problem has gone worldwide. Once again, I've seen documentation of it with my own eyes.
The Obama Administration has also been using Paypal to financially damage people it deems political enemies, in conduct that is completely criminal, discriminatory and a violation of their oaths of office. There are many noted cases of the Obama Administration engaging in this criminal behavior and it is disgraceful (much like they've corrupted Google). No administration is U.S. history has so politically tampered with the American business sector and in such insidious ways.
Something very weird and criminal is going on at Paypal that could cost you your online business. Be very careful of them. Paypal has become a danger and a liability for online stores who account for billions of dollars in trade every year.