PayPal is one of the most popular and secure ways of paying online.
If you are a small or medium business owner doing business online, you have probably looked into online methods for taking payment for your products and services, and for sure you came across PayPal as well due to its popularity.
Before we go any further let’s check what are advantages and disadvantages of using PayPal
It's easy to setup and use.
Your clients/customers may already be familiar with PayPal, so its well trusted.
You don't need a merchant account.
Your clients/customers don't need a PayPal account to pay you.
Multi currency payment option is available.
You can create and send invoices right through your account.
PayPal's fees are less than many merchant accounts (currently 2.9% + $0.30 USD for debit and credit card purchases).
You can set up recurring payments.
You can integrate PayPal with a number of shopping cart systems.
Advantages (Pros) of Using PayPal
Disadvantages (Cons) of Using PayPal
PayPal's Seller Protection policies do not cover digital goods.
There are hefty fees for charge-backs.
It can take four business days for withdrawn funds to clear in your bank account.
There are a number of people who refuse to use PayPal, which may result in lost business.
It can be difficult to contact PayPal's customer service department.
The decision is yours to use PayPal or Stripe or any other payment gates ways, however PayPal remains the easiest to use and the most used by online marketers. By scanning the market and the usage of PayPal, we can say PayPal could be your best option if you are not sure or confused and if you are a beginner.
PayPal offers a way to seamlessly proceed through checkout on your site, via one of the most widely used digital payment solutions. Your customers can rest assured they're using a secure, trusted, and reliable payment option when PayPal is available. It benefits those that don't pay with credit or debit card online. It also allows purchases worldwide, in over 100 currencies. Even when using another merchant service, it's good to have PayPal enabled as an additional option for your consumers.
To open a PayPal account for business purpose, you have the option to open a normal account if you don't have one and then upgrade or simply create a totally new account which is only for your business.
Here is The Step By Step Process
(1)- Sign Up
First, let's assume you don't yet have a PayPal account. Browse to the PayPal page and click on the "Sign Up" link.
(2)- Select Business Account
At the window asking if you want to set up a personal or business account, click on the option for "Business Account." Then click "Continue".
(3)- Next, Select Standard Account
At the page to "Sign up for a business account to get paid," PayPal offers you three types of business accounts: Payments Pro for $30 a month, Payments Standard for free, and Express Checkout for free. You can see the basic features offered by each type of account and click on the link to "Show additional features" to get the full scoop. You can always start with one of the free accounts and then upgrade to the Payments Pro option if you need more features. So, let's pick the Payments Standard account. Click on the "Select Standard" button.
Note: In some countries this page may not show up which means Standard Account would be selected for you by default.
(4)- Put Your Email
Enter your email address at the "Sign up for a Business account" page. Click Continue.
(5)- Create a Password
Then enter a password for your account. The click Continue.
(6)- Put Your Business Information
At the "Tell us about your business" page, enter your name, business name, and contact information. Then click Continue.
(7)- Select The Appropriate Business Details From The Options
On this page, enter the various details about your business.
Under business type
- If you are a sole trader/ the only owner, you may select the option “individual/Sole Proprietorship"
- If you are a business partner with someone else, then may select “Partnership”
- If you are a limited company ( Ltd )or limited liability company (LLC) then you may select “Corporation”
- If it’s a charity organization select “Nonprofit organization”
- If it’s a government agency, select “Government entity"
For demonstration purpose lets say we have selected the first option “individual/Sole Proprietorship"
Then select your business category and sub-category or nearest things it represent
Select the estimated sales per month
Where it’s says put your business URL, you may add your business website link if you wish, but we do not recommend to do this just to be on safe side and it’s not compulsory.
Then hit on "Continue"
Note: Depending on what business type you have selected, the next window form and requirement will be set
(8)- More Information Will Be Required
Depending on what type of business you have selected the information required on this window will be set. In this example as we have selected “Individual/Sole Proprietorship" you will be required to provide some information about your self and your social security number ( National Insurance number in other countries ) for Tax reasons. If you have selected a different business type, then a different requirements will be displayed here. Then hit “Submit”
(9)- Select The Payment System ( How You Get Paid )
Congratulation, Now you are done with building your business account with PayPal.Now PayPal will asks you how you want to start getting paid. The selections differ based on the type of account you chose. Let's assume you selected the Payments Standard account. If you have or are setting up a dedicated e-commerce website, you can choose to accept payments on your website. If you sell items in person, you can opt to take credit cards with a card reader. If you send invoices, you can select the option for online invoices. And if you want to open an eBay store, you can choose the eBay option. You can select any or all of the options.
Let's say you want to have both your own e-commerce site and an eBay store. Click on the options for "On your website" and "On eBay." Then click on Continue.
(10)- Next is Account Setup
Before you go ahead and select your PayPal payment button code, you need to setup your account. This is important to verify your account and add bank details where you can transfer your money.
Click on the link for "Account setup."
(11)- Confirm Your Email & Link To a Bank Account
Simply go to your email and click on the link sent to you, then click where it says “Link your bank account” and add your bank account details
(12)- Make Your Business Name Clear & Choose a PayPal Debit MasterCard If You Wish
The next two steps are optional, you wish to make your customer recognise you easily and for that click on “Make your business name clear for customers”.
If you wish to get a debit MasterCard from PayPal which you can use to withdraw money from any ATM machine, click on “Get the PayPal Business Debit MasterCard
(13)- Payment Options & Setup
Now you are ready to utilize your account and get started.
Head over to the top of the page and click on the link “Payment Setup”
(14)- Payment Processing Choices
Now you will be presented with two payment choices which you can use depending on your business and how it process payments.
For majority of cases people go for the first option which is to process all payments through PayPal button including Debit and Credit card payments.
However if you have already designated another payment processor for Debit and Credit cards, then you may go for the second option to add PayPal button as another additional payment method.
Once you have selected your option, click on “Continue” under the selected one, copy the code generated for you and embed it in to the page where you customer need to click and pay.
Why PayPal ?
The Good & The Bad About PayPal
How To Open a PayPal Business Account ?
(2)- The Step By Step Process
In this short course you will learn everything you need to open a proper PayPal Business Account.
Here is What You Will get ?
(1)- Full Video Tutorials
(2)- The Step By Step Process
(3)- How To Generate PayPal Button
(1)- Full Video Tutorials
- How To Open a PayPal Business Account
- Selecting How To Get Paid
- Creating PayPal Button & Adding Delivery Page Link
- How To Setup PayPal Recurring Payments For Your Business
- Opening PayPal Business Account Using Mobile
(3)- How To Generate PayPal Button
Here you will learn how to generate PayPal button code which you will need to place in your sales page so that customers can use it to pay you through PayPal.
Depending on your selection, PayPal Button also will include payment process using any major Credit or Debit cards
Click The Button Below To Learn How To Generate a PayPal Button With Full Details
Thank You For Taking This Course
Do You Know !
The Most Advanced Methods To Make Money Online Can Be Found Here