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PayPal vs Pin Payments: What are the differences?

Introduction

In this article, we will explore the key differences between PayPal and Pin Payments. Both platforms are widely used for online transactions, but they have distinct features and functionalities that set them apart.

  1. Fees and Pricing: PayPal charges a percentage-based fee for each transaction along with a fixed fee, which can vary depending on the country and type of transaction. On the other hand, Pin Payments has a transparent pricing structure with a flat percentage fee for each transaction, making it easier to calculate the costs involved.

  2. Currency Support: While PayPal supports multiple currencies and allows users to receive payments in various currencies, Pin Payments primarily focuses on Australian dollar transactions and has limited support for international currencies. This makes PayPal a better choice for businesses with a global customer base.

  3. Integration and Developer Support: PayPal offers extensive integration options and has a well-documented API, making it easier for developers to integrate the payment system into websites and applications. Pin Payments, though it also provides integration options, has a more limited API and documentation, which may be a consideration for businesses heavily reliant on custom integrations.

  4. Payment Processing Time: PayPal offers instant payment processing, allowing recipients to access funds immediately. Pin Payments, on the other hand, requires a bank transfer to access the funds, which could take 1-2 business days. This difference in processing time may impact the cash flow for businesses.

  5. Payment Methods: PayPal offers a wide range of payment methods, including credit cards, bank transfers, and PayPal balance, providing flexibility for customers to choose their preferred payment method. Pin Payments primarily focuses on credit and debit card payments, offering a streamlined checkout experience for customers, but limiting payment options.

  6. Dispute Resolution: PayPal has a well-established dispute resolution process, providing protection for both buyers and sellers in case of disputes or fraudulent transactions. Pin Payments, while it does have a dispute resolution process, may have limited options compared to PayPal, which can be a consideration for businesses concerned about fraud protection.

In summary, PayPal offers a wider range of international currency support, instant payment processing, more payment method options, a well-documented API, and a robust dispute resolution process compared to Pin Payments. However, Pin Payments has a more transparent pricing structure, streamlined checkout experience, and may be a better choice for businesses focused on the Australian market.

Decisions about PayPal and Pin Payments
Lucas Litton
Founder & CEO at Macombey · | 4 upvotes · 288K views

We use GoCardless to simplify the way clients and partners pay for our services. What intrigued us is the quick and easy ACH feature that gives our clients the option to log in with their bank account and shoot the funds directly to our account. The fee, compared to Stripe is less. Stripe and PayPal charge 2.9% + 30c and Stripe also forces the client to enter in all of their payment details manually and then if the payment doesn't work, the client has to try all over again. GoCardless charges 1% + 25c which is much more reasonable dealing with the large projects that we are currently working on.

We integrate GoCardless with Xero to easily send out quick invoices, receive the funds and track all revenue in one place.

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Pros of PayPal
Pros of Pin Payments
  • 196
    Most known service
  • 135
    Consumers know it
  • 113
    It's available for many countries
  • 70
    Easy
  • 54
    Best way to get paid outside US
  • 35
    Most widely used payment processor
  • 25
    Express Checkout
  • 16
    Consumers trust it
  • 15
    Flexible and secure
  • 6
    Digital Goods for Express Checkout
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    Cons of PayPal
    Cons of Pin Payments
    • 1
      Not well written recurring payment api
    • 1
      Less countries supported
    • 1
      Harder to get started with
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      What is PayPal?

      PayPal is an online payments and money transfer service that allows you to send money via email, phone, text message or Skype. They offer products to both individuals and businesses alike, including online vendors, auction sites and corporate users. PayPal connects effortlessly to bank accounts and credit cards. PayPal Mobile is one of PayPal’s newest products. It allows you to send payments by text message or by using PayPal’s mobile browser.

      What is Pin Payments?

      It helps companies sell to a global audience. No gateway or merchant account required. It gives you a flexible platform for accepting card payments from customers

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      What companies use PayPal?
      What companies use Pin Payments?
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      What are some alternatives to PayPal and Pin Payments?
      Stripe
      Stripe makes it easy for developers to accept credit cards on the web.
      WePay
      WePay helps people sell tickets to events, send invoices, sell items online, and accept donations online. WePay also provides an API that allows developers to access its payments platform.
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