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Old 06-27-2021, 12:26   #1
cbtengr
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Cashapp/Zelle

We live in a world now where nobody trusts anybody when it comes to accepting payments for goods. I offer to send people a good check and to let them wait for it to clear and then send me the goods but no one will do that they all want another form of payment either Paypal, Cashapp or Zelle. I have had Paypal in the past but will use it no longer. Is anyone here familiar with the other two methods that I have named, what is your opinion of either of them? The cheaters and thieves have ruined it for the rest of us.
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Old 06-27-2021, 14:18   #2
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Test question: Do you still use a fax machine? I've noticed that my customers who have resisted moving to electronic payments tend to still use the fax.

Started weening my customers off paper checks when the postal service shit the bed last spring. We accept many types of electronic payments. I'm now at the point where we only accept electronic payments from new distributors. Legacy accounts can still pay by check but I have offered them incentives to change. Once they change and realize it saves them time they are glad they did it.

As a small business Zelle is my favorite for a couple of reasons. Advantages over ACH payments include: Currently, it is a free service for my customers. It's also an instantaneous payment. Additionally, I don't have to give out my banking information to make it work. Your company (personal account) can be listed under a phone number or email.






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Last edited by Last hard class; 06-27-2021 at 14:34.
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Old 06-27-2021, 15:09   #3
cbtengr
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LHC,

FYI I do not use a fax machine and I am way behind the curve when it comes to all these new forms of payment. I appreciate your feedback, until today I had never heard of Zelle. I am retired and only occasionally purchase things from private individuals that do not wish to take personal checks. Thanks!
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Old 06-27-2021, 16:24   #4
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IBID to LHC's comment.

My preference is Zelle for the same reasons. Instantaneous transfer so you do not have the wait (3 days or more depending on the App)

I also have Venmo (3 day free or percentage payment for 1 day)

My PayPal account is still kicking around but it is really dated by comparison


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Old 06-27-2021, 16:26   #5
Roguish Lawyer
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They are all legit. Zelle is typically offered by banks.
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Old 06-28-2021, 14:44   #6
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Positive experience with Zelle and Venmo.
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Old 06-28-2021, 16:23   #7
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Quote:
Originally Posted by Ret10Echo View Post
My PayPal account is still kicking around but it is really dated by comparison


R//
I'd heard of Venmo, but not Zelle till this thread (except for a little town in the DDR).

Are these 2 possibly destined to make PayPal "so yesterday" or has that already been accomplished?
Just curious.
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Old 06-29-2021, 08:09   #8
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Quote:
Originally Posted by Badger52 View Post
I'd heard of Venmo, but not Zelle till this thread (except for a little town in the DDR).

Are these 2 possibly destined to make PayPal "so yesterday" or has that already been accomplished?
Just curious.
Paypal owns Venmo. Zelle is an attempt by banks to compete with the Paypals of the world.
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Old 06-29-2021, 10:07   #9
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Quote:
Originally Posted by Badger52 View Post
I'd heard of Venmo, but not Zelle till this thread (except for a little town in the DDR).

Are these 2 possibly destined to make PayPal "so yesterday" or has that already been accomplished?
Just curious.

It's all about app functionality and OS preference.

As RL stated, Zelle is integrated into many banking apps so it is seamless and direct.

Others are about personal preference and associated transaction fees and speed.

The Cash App, Google Pay, Remitly, Apple Pay
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Old 06-30-2021, 04:26   #10
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RL and Ret10Echo, thanks.
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Old 06-30-2021, 07:34   #11
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Can any of you techy wizes help me? My DVR clock is still flashing 1200!
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Old 06-30-2021, 08:07   #12
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Quote:
Originally Posted by Badger52 View Post
I'd heard of Venmo, but not Zelle till this thread (except for a little town in the DDR).

Are these 2 possibly destined to make PayPal "so yesterday" or has that already been accomplished?
Just curious.
PayPal isn't going anywhere. 392 million users. They just announced a significant fee increase for business transactions. Also going to allow business transactions for Venmo for a fee. Most people don't care because they don't see it. My POV was from the guy who gets bent over with the increases. The reality of a competitive market for the small guy means input costs don't always get automatically passed along. FYI: The stock is up 25% this year.


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Old 06-30-2021, 09:35   #13
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PayPal isn't going anywhere. 392 million users. They just announced a significant fee increase for business transactions. Also going to allow business transactions for Venmo for a fee. Most people don't care because they don't see it. My POV was from the guy who gets bent over with the increases. The reality of a competitive market for the small guy means input costs don't always get automatically passed along. FYI: The stock is up 25% this year.


LHC
Ok, thanks. I was just curious as I don't use these things but try (against a riptide sometimes) to understand a little so I can swim parallel & not get drowned. I'm still using a flip-phone but I do know how to set the clocks on appliances usually...

Separately do you think part of the reason their stock is up is due to isolation-driven usage & new customers as a result?
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Old 06-30-2021, 09:43   #14
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Can any of you techy wizes help me? My DVR clock is still flashing 1200!
Not sure what that is, but I can fix your Betamax for sure!
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Old 06-30-2021, 10:41   #15
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Zelle is a private financial services company jointly owned by Bank of America, BB&T, Capital One, JPMorgan Chase, PNC Bank, U.S. Bank and Wells Fargo.

They formed it to compete with Venmo and CashApp.
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