For many years, PayPal has been considered the go-to payment processing system for personal and small business transactions. Over time, however, their high fees, account restrictions, and difficult support systems have prompted SMBs to look for alternatives.
As a small business owner, there are quite a few challenges with using PayPal as your digital payment management system:
- High Fees for Refunds and Chargebacks: PayPal can impose additional fees if a business experiences a lot of refunds and chargebacks. This can be costly, especially for businesses with high transaction volumes or those in industries with higher rates of returns and disputes.
- Account Freezes: PayPal has the authority to freeze accounts, which can disrupt business operations. This is often a precautionary measure against suspicious activities but can be a significant inconvenience for businesses. In the past years they were famous for freezing accounts left and right and leaving small businesses without their funds.
- Holds on Funds: Especially for new or high-risk accounts, PayPal may place holds or reserves on funds received. This can tie up funds that businesses need for immediate operational expenses, leading to cash flow challenges.
- Additional Bank Charges: Transferring funds from PayPal to a bank account can sometimes incur additional charges, adding to the cost of using the service.
- Hefty Chargeback Fees: PayPal charges substantial fees for chargebacks, which can be a significant expense for businesses dealing with disputes and customer dissatisfaction.
- High Processing Fees: The processing fees for transactions through PayPal can be higher compared to some other payment processors, affecting the overall profitability of the business.
- Long Processing Time: The time taken to process transactions and transfer funds to a bank account can be longer with PayPal, which might not be ideal for businesses that require quick access to their funds.
Finli vs PayPal
If you’re considering moving away from PayPal, there are quite a few benefits of Finli you should be aware of:
Transparent Pricing
At Finli we understand it’s not easy to manage cashflow, as a small business, but at least you shouldn’t have to worry about crazy transaction fees. We have developed a clear pricing, just $39/month, to cover ALL your invoicing/banking needs.
Seamless Invoicing and Payment Processing
Finli is designed to provide a smooth experience for both invoicing and payment processing, making it easier for businesses to manage their financial transactions. We have developed a feature-rich product, but still kept it easy to use and hassle-free. You already have your hands full with your business, why should payment management giving you additional headaches?
Unparalleled Flexibility in Managing Payments
Finli offers greater flexibility compared to PayPal, allowing businesses to tailor their payment management according to their specific needs. Just like every business is unique, so are their financial needs.
Enhanced Customer Relationship Management
Finli not only handles payments but also helps in managing customer relationships, which can be crucial for small and medium-sized businesses. Your own CRM, invoice management, recurring payments, inventory management etc.
Secure Payment Management System
Finli emphasizes security in its payment management system, ensuring that transactions are safe and reliable. Another added bonus: we don’t need to freeze accounts, so you are always able to access your dashboard.
All-in-One Management Platform
Finli functions as an all-in-one management platform, streamlining business processes from the initial inquiry to the final payment. You have access to countless features, without the need to pay for multiple apps. Everything you need, as a small business, is already here.
What to Expect in Finli, as a Paypal Alternative
A PayPal alternative, Finli offers several key benefits for your small business needs:
- Competitive Transaction Fees: with $39/month, no ACH fees and low credit card fees, Finli saves you thousands of dollars a year, just in transaction costs.
- User-Friendly Interface: An intuitive and easy-to-navigate interface that ensures a smooth user experience, both for making and receiving payments. When we created Finli, we wanted to provide a platform that can be easily used, although feature-rich.
- Security and Fraud Protection: Robust security measures to protect financial data and transactions, along with effective fraud detection and prevention mechanisms.
- Fast Processing Times: Quick processing of transactions, including both payments and withdrawals, to ensure timely access to funds.
- Multiple Payment Options: Support for a variety of payment methods, including credit/debit cards, bank transfers, QR code payments etc.
- Integration Capabilities: Easy integration with other platforms and services, such as e-commerce platforms, accounting software, and mobile apps.
- Recurring Payments and Subscription Management: Features to handle recurring payments and subscriptions, which are essential for businesses with these models. Our clients love being able to send recurring invoices and properly handling their customer details.
- Customizable Invoices: The ability to create and send customizable invoices directly through the platform. We pride ourselves with an invoice management system that helps you build professional invoices in seconds.
- No Account Freezing Without Clear Reason: A transparent policy regarding account holds and freezes, avoiding the sudden and unexplained account limitations that users sometimes face with PayPal.
