How Paypal Is Digging Its Own Grave

Vikram Narayan, the Country Manager and MD of Paypal for India, in an interview to ‘The Hindu’ last December, claims Paypal to be

- a payment gateway

- a merchant account

- a payment method

- a digital wallet

- a payment processor

The People

The people working at Paypal don’t really care about the product or its customers and this is a great example to establish the fact. If Mr. Narayan was in fact talking about Paypal India (well, it is good to assume that since he is the MD and Country Manager), he was wrong to claim Paypal as all the above things. You cannot use Paypal to process payments within India, nor can you use your Paypal balance to purchase goods or services from any other country. Considering this, Paypal is not a payment gateway, a payment method or a digital wallet. The only service that it provides in India is payment processing and the MD of Paypal better learn this at least now. The biggest problem with Paypal has been its people, they don’t even know what they’re doing lately and they don’t care. There are hundreds of real, practical problems with their service, but they don’t care because by the end of the day, you have no other go but to use them.

The Product

The product, Paypal.co.in, still has major functionality, design and technical issues. The website looks like it was designed in the 90’s and they haven’t updated it in the last 8 years, just because they don’t care.

90s Design

Many payments don’t go through and when you call their customer support about this, all they say is “Well, ask your client to send out the payment again.”

Their Policies

If you’re new to Paypal, when your customer sends you a payment, you will have to wait 21 days since the payment was received to withdraw it to your bank. This is because you’re not an ‘established seller’ yet only after you become one can you withdraw money to your bank instantly upon receiving a payment. Holding a customer’s payment for 21 days makes absolutely no sense, but that’s how Paypal rolls, just because they can, and they don’t care what you think.

Paypal and its people are never going to change and while it may look like they ‘own’ the payments industry in the short-term, in reality, they are digging their own grave by disregarding their customers.