Paypal Working Capital & Zettle

[HomeCrafters]

Wondering if anyone else has come across and resolved issues with being granted eligibility for Paypal Working Capital since moving to a Zettle card reader?
I've been with Paypal for over 10 years, increasing revenue YoY and had several WC agreements (all paid off early)

Was encouraged last year to change card reader to 'new partners' Zettle and, since the Paypal Here reader was shockingly bad, I jumped at the chance.
All transactions have been going through Paypal via Zettle but have been 'ineligible' for WC ever since I repaid my last loan in January 2022

After being thrown from pillar to post trying to work out why I was no longer eligible, (Zettle telling me it's a Paypal issue and vice versa) I finally discovered that for some reason, the income via Zettle is no longer recorded in the algorithm when working out eligibility - Paypal could see exactly how much was coming into the account but for reasons unexplained cannot use that (very same) income any more??!

Wondering if anyone else has come across this issue and found a workaround?
Not all my income is from my card reader but the majority is - I tried changing the transfer from weekly to daily to show consistent daily income but I am told that without the individual transactions (i.e. the quantity) being recorded on Paypal they can't count the income?

I was under the impression Zettle & Paypal were one and the same, was certainly made to believe that when I was encouraged to change card reader last year..... now I feel penalised for doing so. The WC loan has been a lifeline in the past and always counted on it when needed, now I can't fall back on it I am seriously considering leaving Paypal behind me!

[davoaxoim]

That isn't a solution unless you have the time to manually enter the number for every single customer. Also no inventory tracking and I believe entering the card would mean higher transaction fees and more easily disrupted.

[davoaxoim]

Virtual fees $30 monthly and 3.09% + $0.49 per transaction.

[Kriscendo1963]

Yes in fact I called just before the April 4 date to confirm they had extended the use of paypal here until everything 100 percent with zettle. Even told my wc payments would still come out and sales counted. Finished paying 4/14 just 6 business days after the original date of changeover. Called today and told no they were working with zettle still and it was just a temporary delay. Said they stopped paypal here sales on 4th even though paypal here didn't go away 4th. Said could resolve in a few days or could he longer. Told them a well run corporation would have had everything in place including products BEFORE any transition affecting their clients. We have been clients 15 years and never missed a payment including during the covid shut down.

[RHCrystals]

Well its May 2023 and I call every week regarding this issue. Each time I call, they tell me they are urging their higher ups to get a set of dates for when Zettle payments will count towards income for Working Capital. It is extremely frustrating and I get the feeling they are not doing anything about it, but simply saying they are working on it. Since this post, Paypal here has been COMPLETELY phased out, so if you are not getting enough direct paypal payments you will not be getting any WC loans anytime soon. Paypal, DO BETTER FOR THE PEOPLE THAT KEEP YOUR BUSINESS AFLOAT. 

[jennettaH]

We are being forced to Square where we are able to get working capital!

[TiffGold]

Are you eligible for the same amount your working capital through paypal would've been or do you have to start all over?

[Bluesteye]

I did an online chat and asked if PayPal working capital would be available and he said to look for it in June/July. It’s the first time I’ve heard any specific time. Fingers crossed but not holding my breath.

[davoaxoim]

Also if your direct and online payments are outside of Zettle, you will be denied because it isn't a majority of the transactions that are going through the account. We have been well over the limit on our online sales and the algorithm is still denying the loan.

[Carmiapple]

Has anyone heard any updates on the working capital loan? 

[Utahsvapeguy]

The best update I can give is I left PayPal. I ended up moving to square and took me about 6 months to get My first offer for a working capital loan. Unfortunately because of this whole debacle PayPal has lost a complete customer from me as their issue forced me to see how much better it is on the other side of the fence. Square is better than PayPal