If you’ve ever tried dealing with clients or selling products or services online before, you must’ve felt the importance of PayPal. Not only is PayPal critical if you’re a seller though, as it’s equally important when you need to buy a particular product or subscribe to a specific service online. That’s why it’s undoubtedly the biggest name when it comes to online money exchanges.
Speaking of recurring payments, most people know how to enable them, but not all know how to cancel them. Worry not, though, as, in this guide, I’ll be detailing how to PayPal cancel recurring payments.
PayPal and the Payment Processing Industry
PayPal got to fame through its partnership with eBay, but it’s currently used by millions of online merchants from all over the globe as the primary payment gateway. The question is; why go through the hassle of setting up a PayPal account if you can pay using your credit card?
Well, PayPal offers huge benefits for buyers, including:
PayPal doesn’t have any membership or hidden fees for buyers, which means that you can enjoy all of its benefits without paying a penny.
Credit Card Safety
You will never need to disclose your credit card or bank details after adding them to your PayPal account. In other words, you can shop safely without worrying about hacking attempts and data phishing.
Flexibility at its Finest
Using PayPal offers more flexibility, as you can add several credit card and bank accounts, which means that you won’t have to worry about your card getting declined by an online merchant.
Instant and Affordable Money Transfers
You can transfer money instantly and cheaply to your friends, family members, or even colleagues, no matter where they are. Say goodbye to the hefty costs of Western Union and bank transfers.
Transfer Money On-The-Go
PayPal can be used through their smartphone app, which is available for both Android and iOS devices. No matter where you are, you can transfer and receive money in seconds.
It Isn’t Perfect
As good as it may seem, PayPal isn’t perfect as a payment processor, especially for sellers.
The main disadvantage of PayPal is the fact that while it’s free for personal use, it does charge some fees for business use. In other words, if PayPal is helping you make money, it’s going to make money as well. That’s understandable and expected, though, as PayPal is no charity.
“When choosing a payment processor, it is important to take the main drawbacks into consideration as well. For sellers who are looking for a reliable solution to accept payments online, it’s a always good idea to understand how PayPal works first to avoid unexpected fees.”
Another disadvantage for sellers is that PayPal’s seller protection policy doesn’t cover digital goods, so be careful if you sell digital services or products.
What Are PayPal Recurring Payments?
Simply put, PayPal’s recurring payments are ones that you set with specific merchants online so that you don’t have to make the payment manually at the end of every billing cycle.
Recurring payments are easy to set up, as the merchants usually take care of all the elbow grease, but they’re a bit tricky to cancel. That’s why I prepared this guide: PayPal cancel recurring payments.
PayPal Cancel Recurring Payments:
To cancel PayPal recurring payments, here’s what you have to do:
- Log in to your PayPal account.
- Head over to the account settings by clicking on the “Settings” cog right next to the log out button.
- Select the “Payments” tab then head to the “Automatic Payments” section.
- Click on “Manage Automatic Payments”.
- There, you’ll find a list of services to which you’re subscribed. Select the one you’d like to cancel.
- Click on “Cancel”.
- Voila! Now you know everything about PayPal Cancel recurring payments.
Here’s a short video that summarizes pretty much the whole process made by the award-winning blogger Harsh Agrawal:
One last thing to keep in mind here is that recurring payments can be canceled up to one day before the start of the next billing section.