Working Capital - Is it right that iZettle is not included in sales figures

[canwehaveitnow]

Evening

Ive had 4 previous working capital loans - mainly with income from my ebay account

Since then I have been denied a loan which i understand as my ebay account has not been used as much but this is due to opening premises.

I have increased my takings considerably and 95% of my transactions are through iZettle which is provided by Paypal but I have been told that iZettle transactions do not count towards the sales transactions figures -

Can anyone confirm this ?

Becky

[davoaxoim]

I have a retail brick and motor and it does seem that even though Paypal capital took the re-payment percentage of every Zettle transaction, the system is seeing it has a change in how I accept payments. So, it declined what would have been my 7th loan. So, it's not that the Zettle transactions don't count, it's that the system isn't seeing them. 

Called and it is a known issue and has been forwarding the development team but have no idea when it will be resolved. I was told to try back in a month.

[canwehaveitnow]

Thank you ill keep a eye out and see if they do change the system - thank you for the reply Becky

[Wa6]

I was told the same thing. I was also told that PayPal is working on correcting the program hopefully within the next month or so.

[davoaxoim]

Next month or so seems a lot more defined then what I was told. I got the impression that they had no one working to fix it.

[canwehaveitnow]

I think sometimes its a line companies give to make you go away and not ask !!

Lets hope they actually do look into this 

Becky

[davoaxoim]

The latest I have heard is that since they are phasing out Paypal here. They are no longer accepting new merchants and no further development will occur. Basically, it's over and they are giving it a slow death. Also, a rep told me that they are working on Zettle so that payments will be processed immediately. Meaning like Paypal here, you will have access to the funds within a few minutes. Currently, Zettle deposits the funds the next day and I'm guessing they are going to remove the ability to bank the funds in your Zettle account too.

Once this happens the payments should appear the same as PayPal here and fix the issue. The only problem is that I wonder if there will be a delay between when working capital notices the payment to when you will qualify for a loan in the eye of the approval program. Which could be an additional 6 months after the payments go immediate. Of course, the rep had no idea. 

Seems to me they should have figured this out before killing Paypal here or Zettle Advance. Unless they are also planning on killing Paypal working Capitol. The two main reasons that I have used Working Capitol in the past are the flat fee and the simple ease of use. No mailing checks or remembering one more payment. I'm already noticing a slight slump in my fourth quarter because I didn't get the loan to expand inventory and promotion. This is the first non-growth period we have had since 2018.