What do you like best?
Online payment: when it comes to e-commerce, being able to make payments creates a big difference in the sales conversion. Paypal does surprisingly well because of its popularity among online consumers.
Insurance (for both the seller and the buyer): With years of experience, Paypal can provide warnings about a possible risk when making a transaction with a particular account. Therefore, both the seller and the buyer know who they are dealing with and may decide to proceed with the transaction or not.
Convenient: while other online payment gateways (such as Xoom or Pesopay) make it difficult to integrate with your website. Paypal is extremely easy to integrate, which makes it a popular payment gateway for a new company.
What do you dislike?
Collaboration: Paypal could create some collaborations with local banks, so the process of withdrawing a Paypal fund [and transferring] to a bank account is faster and easier, especially for new users.
Add more payment methods: Currently, people can only make a payment if they have a debit or credit card. If more local bank cards are allowed, this is surely a great help for e-commerce business owners.
Convenience in the location: sometimes, if you enter your account in different locations, you can create a problem. For example: if you are logging into a PayPal account in Vietnam while your account is currently Philippines, PayPal reserves the right to block your account until you provide further clarification.
Recommendations to others considering the product
If you want to have a quick way for customers to make payments, this is your best option in the market due to its popularity and easy to integrate features. However, the transaction fee is normally much higher than the local payment gateway, so you will have to compensate it with your sales volume. Also, if your target market is not an international market, you may want to consider a local payment gateway since Paypal only allows users of credit / debit cards to make the payment.
What business problems are you solving with the product? What benefits have you realized?
Paypal is used as one of the main payment gateways for our company. In addition, it is also used as a support payment channel for my fashion start-up business. Paypal facilitates our customers access to our services and products by allowing customers to make payments without complications and safely.