I've been using PayPal to collect payments for physical goods that I sell on my site for about two years now. I typically do about $2k in business per months. I've had a couple of months where I've offered discounted and sales rose to around $10k with no hiccups at all.
I have an Amazon Payments account as a fallback if I need it, but so far I haven't (knock on wood).
I know all about the PayPal horror stories, but there is one feature that makes me stick with them: the PayPal debit card which is linked directly to the PayPal account. A customer can make a purchase at 10:00am and at 10:01am I can withdraw the money at an ATM, no waiting a week or so for the bank transfer. Since I deal with physical items, this quick turnaround has really helped me with inventory, and no one else offers that kind of access to the cash (other options will allow you to withdraw the cash immediately via a direct bank transfer, but as I said, that can take several days).
The moment a bank or another site offers that kind of direct cash access + easy web form processing is the moment I drop PayPal, but for now, they're the only game in town.
Yes, the PayPal debit cards are US-only. They also had virtual cards, which was an intriguing product, but it got cancelled when they got rid of the browser plugin.
I have an Amazon Payments account as a fallback if I need it, but so far I haven't (knock on wood).
I know all about the PayPal horror stories, but there is one feature that makes me stick with them: the PayPal debit card which is linked directly to the PayPal account. A customer can make a purchase at 10:00am and at 10:01am I can withdraw the money at an ATM, no waiting a week or so for the bank transfer. Since I deal with physical items, this quick turnaround has really helped me with inventory, and no one else offers that kind of access to the cash (other options will allow you to withdraw the cash immediately via a direct bank transfer, but as I said, that can take several days).
The moment a bank or another site offers that kind of direct cash access + easy web form processing is the moment I drop PayPal, but for now, they're the only game in town.