PAYPAL PAYMENT PLATFORM HAS BEEN DISCONNECTED AND REMOVED PERMANENTLY FROM THIS SITE. THE ANTI-SELLER COMPANY POLICIES, WITHHOLDS THE MONEY OF THOUSANDS OF SELLERS, AROUND THE GLOBE DESTROYING OUR BUSINESSES. A COMPANY THAT IS BASED IN LUXEMBOURG, TO OPERATE OUTSIDE THE EUROPEAN LEGAL FRAMEWORK, STIPULATE, AND WASH MONEY AMONGST OTHER BAD PRACTICES.
We issue this statement, on August 1st, 2021, to put this in the public knowledge and publicly denounce why we have decided to remove PayPal from this website. Korean Beauty Shop WILL NEVER OFFER PAYPAL AS A PAYMENT METHOD OR WORK WITH THIS PLATFORM EVER AGAIN.
A platform that, despite not being a bank, manages, speculates and plays with our money at will; with total arbitrariness and impunity; managing to retain sales funds for as long as they deem appropriate and as they deem appropriate; and without the seller being able to do anything; they also 'clarify that they do not have to give you any explanation, nor is there any possibility of claiming.'
But PayPal, a company that despite this false advertising of being 'a secure platform', does not offer deposit insurance, nor is it adhered to or backed by any banking system, If Paypal goes bankrupt you lose your money. It has no warranty and is based in Luxembourg; a tax haven in Europe, with zero transparency, which operates outside of European legislation.
Luxembourg and its laws are the perfect crossroads to divert funds, and in turn, make it difficult to carry out any type of claim and trace capital. IN PAYPAL YOU CAN CHARGE AS AND WHEN THEY WANT . But it is not a financial institution, nor a bank; They are not regulated by the Bank of Spain, nor do they operate within the framework of European legislation . The headquarters in Madrid, Spain, does not exist.
"Your strategy is perfect, we block the accounts of thousands of people or tens of thousands in each country, we block those balances that translate into tens or hundreds of millions of Euros, we keep them for 6 months held in our banks in Luxembourg, we return them , we pay 6 or 7% for those credits and obtained benefits or interests and we earn millions of Euros for doing nothing, for blackmailing the clients and users of that criminal platform, earning money that for me you can even say that it is tainted to the limits that are indescribable "Change.org, 2021
We have been suffering and tolerating their abusive, anti-seller policies for years; since we know many users prefer to use PayPal when paying online. But what's the cost for us? Korean Beauty Shop, which is in a very delicate financial moment, and at the beginning of the year was about to shut the curtain. On Friday, the 30th of July, had a phone conversation with a PayPal agent to let the company know, that this 'way of working they have' is not an option that EVEN AFTER THREE YEARS WITH ZERO DISPUTES- they continue applying this money building strategy to our funds whenever they feel like doing it.
Because of PayPal more than once, we have been up and against the wall, facing payment delays to suppliers, who ask why they are not being paid or have been paid late; but this is all a chain reaction; PayPal wants to speculate with your money and trade with it; while we have to get money from anywhere and ask banks for credits to be able to face the payment of invoices -because providers do not care all this PayPal retention policy.
We pay for our stock, but also due to withholdings, we also have to pay for orders shipping costs upfront.
This abusive company couldn't care less about how difficult it can be to run a small business and do everything you can to remained opened even at difficult times... That is not to mention the very high sales commissions margins they profit for using them as a payment platform. PayPal, earns 3.4% of 100 euros + 0.35 euros = 3.75 euros from the total amount of each sale that is being paid with them; and what exactly we get in return? YOU WILL SUFFOCATE AND SUFFER; nothing else. PayPal, philosophy, is all about what 'take and not give'.
"Using PayPal means having to accept the business ethics of this company and expect it to act honestly for reasons of prestige, but due to the lack of a legal framework that covers this type of activity, it is not an institution that offers guarantees for its users. "
Ironically "PayPal" ads read "Grow your business" PayPal is a tyrant and a 100% anti-seller platform. There is not a single gesture or policy that benefits or helps us in any way. Just as an example, these are all the withholds applied to our PayPal seller account in July 2021.
During the phone call the is mentioned above, we let them know that their policy is destroying our company and that their payment delays leads us to NON-PAYMENTS, and that if this does not change we will have no other option but close .
We feel humiliated, every step we take 'next to them'. We have become their servants; after any delivery, we have to obtain a receipt with a letterhead from the delivery company, and then call their offices and email them the receipts/proofs, so that they can verify the tracking code is correct and the parcel and has been indeedm, delivered, and if they want; at least another 24 hours later, then they will release your funds ... What really bothers us the most is (...)? Who is PayPal? Do we owe them anything? So why do we have to render to tribute so much information from ourselves?
We let them know this and the next day; we get an answer saying THEY WILL WITHHOLD FUNDS FOR AN UNKNOWN TIME OF FRAME AND DEMAND US TO PROVIDE THEM WITH AN INSANE AMOUNT OF DOCUMENTS. When did they start thinking they have such a power over us? who made them think we are at their feet?
Reality is, Korean Beauty Shop's business idea, differs a lot from PayPal business policy. This is not partnership; this is slavery.
Thousands of other sellers around the globe are affected just like us, by their policy who treats us like slaves They tell us what, how, when, and what to do; and we command. They are getting rich, thanks to small businesses like us, at the same time they exercise a total financial control over our money; an activity that does not belong to them since they are a just a virtual POS. However, reality is, they go over what is expected from them and dedicate time to get into the lives of salespeople, thus slowing down their possibility of growth.
These are just a few complaints we found in the media. We highlight this, because this is actually showing, we are not the only one suffering this policies. This is their actual way of 'work' and what they believe is fair and aceeptable.
And these are just a few. Also, take a look at their Trustpilot profile, verified by Google, https://es.trustpilot.com/review/www.paypal.com 1852 reviews and an average score of 1.2 out of 5
Therefore, from now on, this will be the available payment gateways at Korean Beauty Shop.
1.Klarna, for bank transfers.
2. SUMUP is our online POS for credit cards.
3. ClearPay is our solution for deferred ecommerce payment, available in Spain, Italy and France.
And if you want to take look at our Trustpilot we have an average score of 4.8 out of 5 and 123 reviews. Thank you for understanding this change and we hope to be able to grow with you :)
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