I have paid off 10 WC loans over last 10 years totalling $124,000 and after Paypal made me switch to Zettle reader I am now NOT eligible for any Working Capital without warning - well I have processed well over $1 Million USD trough Paypal and will now discontinue and switch to the competition / alternate Credit card processor. I gave them enough time to fix this, and will not wait forever. No one cares over there so I don't care. I am done
I and many others are starting to finally catch on to the manipulation that PayPal used to get us moved to Zettle without disclosing this information. I would have just invoiced through email all my clients if I had known. They knew they were manipulating Working Capital barrowers and that we would catch on at some point. The fact that Zettle can take Working Capital percentages and that PayPal Here stopped taking percentages was the misleading part of this. They knew we would assume that Zettle transactions would count toward Working Capital qualification. It's pretty shady that they didn't disclose this when they used the above information to make us all Zettle clients. I'm talking to my 1099's about moving also. If we move we move together. Even now after all the fuss PayPal has only disclosed Zettle not counting to Working Capital loans as the last item on the Working Capital FaQ page. This was just added over the last month or so. Good luck on a new CC processor. PayPal isn't the only company to offer Working Capital.
