Finicity Connect, now from Mastercard, is a fintech software that aims to make the consumer permissioning process simpler and faster. Finicity Connect links to the vast majority of financial institutions, providing an open banking APIs designed to put consumers in control of their financial data for additional security.
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PayPal Payments Pro
Score 8.4 out of 10
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PayPal Payments Pro is an enterprise-class ecommerce payment solution, that provides payment processing security to build a professional-grade ecommerce site. It can be configured to meet business needs and works across devices. Users can tap into over 390 million active customer accounts around the globe.
It's a very comprehensive and plenty of features as compared to its competitors. I like how it shorten the time it takes to verify account details, monitor balances or create verification reports easily. I like how it makes the consumer permission process super simple and intuitive and makes them fast to data needed to provide service instantly.
Paypal is great for personal payments as well as business payments for ecommerce of for paying monthly memberships. It is a user friendly software that needs little expertise to get used to. For larger payments, the fees become high therefore it is more suitable for payments of upto few hundred dollars.
PayPal offers me the option of converting my currency deposited in my account to another currency, so I can complete all kinds of payments and send money to employees who are in another country for business reasons.
The mobile phone application is too fast, I can make payments to my employees in a matter of seconds without having to wait for the web version to load.
Scheduled payments are great. PayPal allows me to add a list of contacts to my PayPal Business account, and after adding the contacts, I can schedule payments for a specific day and time. It's easier to make automated payroll payments with PayPal.
Sometimes the UX flow would not deliver the customer back to our site, leaving orders in limbo "Pre-approved" status. The customer would call days later asking why we hadn't shipped it.
The PayPal logo on the checkout page can be kind of large and obtrusive.
They mention new features and programs on their login page, but it's hard to find any details on them deeper in the software.
Customer service representatives were unable to explain why customer in Australia were unable to make payments using our link. It turned out that customers in Australia must create an account. PayPal's user interface did not reveal this to our customers in Australia. There was plenty about this issue appearing in online forums and PayPal customer service couldn't explain this. This change in PayPal's usability happened between April and May of 2021 and was done without notice to vendors (like us).
It allows our customers to grant Finicity authorisation and use of their account credentials to access their financial data. I like how it integrate Connect anywhere within our web or mobile apps using iFrame. Connect SDK resources for both web and mobile apps. Add more Security features to our clients data. The support is great for all our needs.
I don't think there's really any competition here. There's Venmo (also owned by PayPal) who is now offering business accounts, but it still isn't quite the same. The closest thing in terms of ease of use would be Apple Pay or Google Pay (and there are a handful of others out there, but we offer Apple and Google Pay). As a business, I prefer Apple or Google Pay to PayPal Payments, but we offer either Google or Apple Pay, PayPal, and credit card options and PayPal is always right up there with credit cards. I don't foresee us ever getting rid of PayPal Payments as an option, but we do try to only offer it on request for higher ticket items or high dollar installment purchases.