Working Capital & iZettle - Did anyone ever get funding in 2023?
For years I happily had Working Capital money from Paypal, paid it back early and then it was stopped - I was told back in 21/22 that this was because iZettle wasnt used in the calculations of what transactions went through my account.
Lots of banks and other companies are using card machines to issue small loans against sales but for some reason Paypal are still not - has anyone been successful.
I cant believe a company of Paypals size cant realise that to help us all out, either reopen the scheme or at least explain why they are still not doing so
Gave Paypal a call and the answer was 'something in the pipeline' - i said, well I havent rung for 2 years so thats a hell of a pipeline, not sure they really were that bothered. Why do they have a whole department dedicated to Working Capital if they are not issuing any or is it simply linked to the iZettle - what a great job, sit there all day saying 'theres something in the pipeline' - so frustrating
Yeah, it makes you wonder what the PPWC customer service does all day. It is all automated, I'm guessing that pretty much every call they get is about loan denial. Now that this is going on, pretty much all the calls they are getting are about Zettle and the fact that it still hasn't been resolved. I saw that PayPal is selling off Xoom because there is too much competition out there. Seems that they would spend some of that money on getting this resolved and keeping customers. Especially in a part of the market, they have been desperate to expand on, Merch retail transactions. I mean they know that there is just so much they can do with online sales and small sites. Having an all-in-one POS and merch transaction system is a huge selling point and really the only way they are going to be able to compete with Square. I mean they offering something for pretty much free that Square charges for and at a lower transaction rate. It's why I went with Zettle in the first place and one of the reasons I've stuck with PayPal was the Working Capital Loans. If this isn't resolved by the end of the next quarter, I'm going to have to move somewhere where there are Loans available.
I have called them i think every day and they tell me the same thing its in "the works" and it will be great for everyone once the merger is complete.. but alas still no time line and this is very frustrating. I believe the only other alternative is square?
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