PayPal Working Capital

[geoffgorner]

I have received an email stating that PayPal here will be ending in April 2023 and that I need to change to Zettle.  How will this affect PayPal Working Capital? Thanks.  

[Wa6]

PayPal is ending working capital as of April 3 2023. Those who have loan must still make payments direct to PayPal.

[SRTWY]

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@Wa6 wrote:
PayPal is ending working capital as of April 3 2023.

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Wait a minute, do you have a source for this?

Paypal is ending Paypal Here on April 3rd.  I see nothing anywhere about PWC ending.

[PayPal_JonK]

Hello @SRTWY, 

Welcome back! I wasn't able to find anything on Working Capital being phased out, just PayPal Here. You can find more information in this Help Center article on PayPal Here Deprecation. 

I hope that clears things up, 

 - Jon K

[SRTWY]

Lol; I'm aware.  I was trying to make that point to the poster who made the original claim that PWC was ending.  Not sure why you're replying to me.

[PayPal_Bindu]

Hello @geoffgorner and @Wa6,

Thanks for visiting our community help forum!

I understand your concern about the PayPal here deprecation and working capital loan repayments. After April 3, 2023, merchants will no longer be able to accept payments using PayPal Here devices or the PayPal Here app. You can upgrade to our latest point-of-sale solutions PayPal Zettle, to continue accepting payments, manage inventory, and track sales. More information about PayPal Here Deprecation can be found here. 

If you currently process sales through PayPal Here and you have an existing PayPal Working Capital loan, your selected repayment percentage is automatically deducted from those sales and used to repay your PayPal Working Capital loan. Please review our PayPal working capital page for more details about the repayments. 

I hope this information helps, have a great day!

Bindu

[bluebird211]

What's this about working capital ending or is that just re the zettle?

[davoaxoim]

This still doesn't answer the question, is PPWC ending? I notice that all the posts about the issue with qualifying for a new loan after switching to Zettle are marked as "closed". Yet the issue has not been resolved and I think as all the Here users switch to Zettle, there is going to be an increasing number of customers wondering why they are suddenly being denied after paying off a number of loans and having an account that is in good standing and meets the requirements. So the matter is not closed until the problem is fixed or PayPal ends PPWC. Let's face it, as everyone that uses Zettle and wishes to apply for a new PPWC loan is finding out, their ability to use the service seems to have come to an end!!! This should be a priority but it really seems like the issue has been when I've seen posts having this problem as far back as February 2022. That is at least 14 months without a solution and with the company knowing that PayPal Here was coming to an end on April 4th, 2023.