I’m wondering how much extra traffic sellers get at Bonanza by offering Amazon Pay in addition to Paypal as a pay option.
I’m not a large volume seller, but setting up the Amazon Pay requires a lot of personal information (SSN, Tax IDs, after credit card information, etc) some of which PayPal doesn’t ask for. I don’t know my Tax ID and I really don’t want to give my SSN online.
There’s really a lot of talk about having an ‘IRS registered business’, which seems to suggest additional fees and taxes too.
Is it worth the trouble?
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barclayexchange Reputation: 18 See barclayexchange's booth |
Almost 30-40% of my sales (as few as there are) are through Amazon pay, so it is beneficial from that standpoint. I agree, however, the personal data gathering is disconcerting. At this point, if I back out of their pay venue, they would still probably have it all archived, thus still susceptible to breaches of security. But then, my doctor has my SSN and how secure are their records? A friend’s doctor’s office was broken into and they stole all the records A-M and the thieves filed a tax return on his SSN. The IRS (amazingly) caught it, but he said he still worries about who has his old medical records & SSN. As far as the future requirements of Amazon and the IRS Registered Business, that is where I would jump ship.
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loves_birds Reputation: 2047 See loves_birds' booth |
You hit the nail on the head. When Amazon made the jump to Amazon pay is when I dropped them as a payment provider. They were asking for to much information. I do not trust them with that information. I am sure I have lost some sales. Every one needs to make there own judgement call. I wish Bonanza would bring back there Direct Payment……….Good Luck
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Fathertime Reputation: 383 See Fathertime's booth |
1 Comment
Yes, it was the “IRS Registered Business” where I bailed myself.
Who wants to be audited and taxed by the IRS for my freaking garage sale?
Much as I dislike PayPal I feel its a bit overkill.
I’m just trying here because the Ebay selling is cold dead lately. Everyone seems broke all over the country.
If buyers start contacting me asking if I’ll take Amazon Pay, maybe I’ll reconsider.
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barclayexchange Reputation: 18 See barclayexchange's booth |
Though I’ve never had a problem using PayPal as a seller, I understand that some sellers have issue accepting PayPal payments. However, it may be one of the best payment options for BUYERS — offering the most protection.
IMO, buyers who took the time to set up Amazon Pay accounts probably have a PayPal account too. Though they may prefer to use their Amazon Pay, the vast majority would use their PayPal if that is the only option for online payments.
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tomwayne1 Reputation: 8637 See tomwayne1's booth |
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