Makes the Entire Buying & Paying Process a Seamless Experience
July 06, 2018
Makes the Entire Buying & Paying Process a Seamless Experience
Score 10 out of 10
Vetted Review
Verified User
Overall Satisfaction with PayPal Payments
We use PayPal Payments in two ways:
1) B to B: We do AI Voice testing for clients and since the testing is end-user experience focused there are many tests. Payments are by the test and we use PayPal Payments to automate the entire process which lets us invest our time and intelligence on the research, rathe than back office accounting. In turn our clients get to do that same, and it actually builds a stronger relationship.
2) B to C: We work with millennials and now that Venmo is owned by PayPal, they are very comfortable with our use of PayPal Payments. In addition, millennials are considered "unbanked" (from traditional banking) so if you're not using something familiar to their world, it takes away from their need for seamlessness. Or worse, they'll want you to use another app, that you may not find as trustworthy.
1) B to B: We do AI Voice testing for clients and since the testing is end-user experience focused there are many tests. Payments are by the test and we use PayPal Payments to automate the entire process which lets us invest our time and intelligence on the research, rathe than back office accounting. In turn our clients get to do that same, and it actually builds a stronger relationship.
2) B to C: We work with millennials and now that Venmo is owned by PayPal, they are very comfortable with our use of PayPal Payments. In addition, millennials are considered "unbanked" (from traditional banking) so if you're not using something familiar to their world, it takes away from their need for seamlessness. Or worse, they'll want you to use another app, that you may not find as trustworthy.
- Positively seamless experience of moving money, when and where both parties in a transaction need that to happen. When we do AI Voice testing, our clients pay through PayPal Payments in just 2 days. There are multiple vendors doing this, and there are lots of tests that come in at all times of the day - even on week-ends as it's very much an international mission, so keeping them all straight would be an overwhelming challenge if done any other way. And the payments are done through project management, rather than Finance, which is far more efficient.
- Agility: PayPal is a heritage brand that keeps up with emerging market demand. We work with millennials, delivering online training, custom program services and eBooks. It's a market that uses too wide a variety of Fintech solutions. So, rather than using 20 different apps, our choosing PayPal Payments, now that they own Venmo, it was pretty easy to just offer Paypal for our online products. It's seamless for them, and for us.
- Customer service: In the beginning it seemed there were too many steps to their onboarding process. We'd made a handful of outreaches to customer support on why approvals were taking so long and queries on what they said was required vs what we had submitted. CS was very helpful in answering our questions in a way that we both understood and appreciated. Afterall, it's money movement in the age of cyber everywhere. But after the onboarding of us, we've had no issues at all.
- Mobile: It's still easier to use a PC or Mac
- More retail store acceptance. They're working on it, but their retail store acceptance is still quite limited.
- Pricing: It seems to be going up, and to unacceptable levels. It's at a point now where many of our AI Voice clients are covering the costs for their service providers which is not the way to go. A competitor FinTech app will take the market away from them with a very small discount.
- The ROI is in improved cashflows, accurate audit trail and seamless enduser experience. The technology asks you repeatedly "you are about to......are you sure?" Can't ask for better than that!
We reviewed a limited number of fintech digital payment apps, but we did not do actual pilot test on any of the others. Why not? Because they all required opening a new checking account with the bank that was backing them, which is always a mistake and quite troublesome to do then undo.
If those finetech companies would give pilot test prospects a "test banking account" we might have done more indepth pilots.
If those finetech companies would give pilot test prospects a "test banking account" we might have done more indepth pilots.