Quesiton about receving money online

Hi

I'm developing a web page where I want users to pay for membership. As of now I give the user payment instructions, he can go into his bank and transfer the amount to my account: I specify in the instructions that he needs to mark the payment with a special code, so I know the payment is from this user...

Disadvantages of this
* It takes a while before he pay until I get the money.
* Have to reply on external source for paying (need to go his online bank to pay)
* takes days before I can approve that he actually paid, by checking bank transactions

Avantage:
* Less fee
* Easy to implement

Have considered PayPal, but they would take like 3.5% on each transaction and also the 21 days of quarantine period (correct me if I'm wrong)

My business partner (not tech person) suggest using https://squareup.com/global/en/register (not affiliate link), so people can pay directly from their mobile phone
but I'm struggling to understand how my web page can know that this specific user payed x amount using his mobile. There must be some communication from the the mobile app operator to my site, not sure how it works, anyone of you having experience with it?

My bank is bank of america

Have you guys some ways to improve this or should I change to PayPal

There's no 21 day quarantine for Paypal funds, so I'm not sure what you're talkin about.

Now the real question is, what percentage do users get of the $800,000,000 fortune that the Nigerian Prince has?

Ok, Sqaure is out of the question, as it is not available in Norway yet

This link https://www.paypal.com/no/webapps/mpp/paypal-fees mention 3.5% fee on transactions (sorry link is in norwegian, but hope paypal can rediect you an english version)

Gyuman82 said:

There's no 21 day quarantine for Paypal funds, so I'm not sure what you're talkin about.

Now the real question is, what percentage do users get of the $800,000,000 fortune that the Nigerian Prince has?

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I just received the email from paypal that they inform you they changed policy now it isn't 21 or 45 days. Its like 90 days able to open a dispute

You can use paypal, if you'll get the payment as a gift than your payment will never goes in pending! so do the transaction

PayPal does not hold your money if you have an old account with all your information in place (SSN, phone verified, address confirmed...).

90%+ of web businesses are using PayPal and so should you. I bet that you will loose customers if you offer only wire transfer as payment method. There are always costs to receive payments and you cannot get over it.

Sombrero said:

PayPal does not hold your money if you have an old account with all your information in place (SSN, phone verified, address confirmed...).

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You mean on pending balance right ? Is that to all country or just for USA ? I can provide them all SSN and my IDS for that

laowai said:

90%+ of web businesses are using PayPal and so should you. I bet that you will loose customers if you offer only wire transfer as payment method. There are always costs to receive payments and you cannot get over it.

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I fully support your thinking.

Yes you need to use Paypal because most of the people use paypal only. If you worry for the 3.5% transaction fee then you will loose the customers

The best choice is paypal