Paypal working capital

[Estigrl74]

Does anyone know a time frame that paypal working capital will be merged with Zettle so we can request a new loan? I paid a loan off early to take out a new one to finish the build out of my business and I was told that I couldn't because the merge from zettle has not been completed. Ugh !

[davoaxoim]

The last I heard was June or July but as of today it still isn't resolved. The merger has nothing to do with it. The algorithm was not built to recognize the zettle payments as Paypal transactions. Thus the algorithm thinks it is a third-party processing service. Paypal has been aware of the issue for over a year and the only solution they gave was to switch back to Paypal here or use the virtual terminal to re-qualify in 6 months. Both are not solutions and they should have been clear that the zettle payments wouldn't be counting. if fact, before switching to zeetle I asked a rep if it would affect my capital loan or future loans and they flat-out told me that it wouldn't affect it at all.  Then I paid off the loan in October and have gotten denied ever since. There are some threads that date back to January 2022 stating this issue. Yet it seems like every time I called support, they acted like they weren't aware of the problem and have no real time line when it will be resolved or if I will   have to wait another 6 months.

[Bgoods2u]

I was told I had to switch to Zettle in May 2021 so 2 years now and I was also told it wouldn’t affect working capital , after calling again today 4th July 2023 to be told they still have no idea is not good. I also was told on previous calls that it was coming and meetings were going on and it should all be sorted soon but 2 years is a bit of a joke now PayPal. I am now going to go to square who use a similar cash advance but just means I have to wait a few months to build up a profile with them , wish I just changed back in January this year but the person I spoke to said it shouldn’t be much longer. I would advise anyone waiting for PayPal to sort this issue to start building up your sales on another payment system as you just don’t know how much longer this will take , it could be another couple of years