If you’ve ever wondered how to use PayPal for your small business, you probably understand that setting up a reliable payment system is an indispensable part of setting up a successful business online. Have you recently opened an online business?
Or perhaps you’re thinking of setting up shop and unsure how you’ll take payments? The good news is that you have an excellent payment system option in PayPal, regardless of what type of business you’re thinking of running.
PayPal has grown in popularity since it first launched in 1998. Today, there are over 325 million accounts that use this online payment actively in over 100 world currencies. PayPal is a convenient payment system that allows your online store to accept payments from credit cards, debit cards, bank accounts, etc. Even better, PayPal also has a business account that offers more benefits, grows your online business, and gives customers an enjoyable experience.
Are you interested in finding out why you need a PayPal account? Or perhaps you’re convinced but don’t know how to get started. We’ll cover all that and more in this article so that you can decide if PayPal is the right online payment system for your business.
Steps for How to Use PayPal for Business Payments?
Setting up your PayPal business account is straightforward and can be a quick and
Below are steps on how to set up PayPal for business transactions:
- Visit the PayPal
sign-inpage through a web browser and click on the Sign-Upbutton.
- A couple of options will be presented to you, but you need to select the PayPal business account. Then, click Next.
- Type in your email and click on Next.
- You’ll see a small form where you need to insert the login ID, Password, and contact information for your business.
- Here you’ll see the terms and agreements. Read through them, then select the Agree and Continue button to continue.
- The next page allows you to enter the business owner’s ID number or social security number, depending on the type of business. You can also input your business website address if there is one. Then, click on the Continue button.
- Then, enter the personal information requested, as it will be utilized for identity verification.
- You should receive an email in a short while.
- Confirm your account with the email, and your PayPal business account is set up and ready for use.
Now that your PayPal business account is set up, you need to link your PayPal account to your bank account. This gives online business owners a lot of covenience and security.
To link your bank account, follow the steps below:
- Visit the PayPal website and log in to your PayPal business account with your ID and password.
- Select the Money option at the top and select Link a new bank.
- Select your bank from the list of options.
- Proceed to link your bank account with your login information or enter the details manually if your bank isn’t on the list.
- In a few days, you should get paid with 2 small deposits from PayPal and you need to sign in to confirm your PayPal business account.
- For confirmation, sign in to your PayPal account online and click on the Money button on the page.
- Select the bank account you wish to confirm and you will be prompted to input the amounts you got paid from PayPal. Then, click on the Submit button.
Now that your account is set up, you can start selling, send invoices, begin accepting payments and other payment processing options with your PayPal account.
What are some ways to Use PayPal Payments for your Business?
When you create a PayPal business account, there are 3 methods for accepting payments from customers. Therefore, it is not enough to know how to use PayPal for business but to also take note of the different methods.
PayPal checkout is a convenient method of accepting payments for your small business, usually through credit and debit cards. Even in cases where customers have to fill in long forms that hinder the customer’s checkout process and your online payment, you only need a PayPal checkout method to get paid faster.
All they have to do is visit your online store, buy all they want, and make online payments, in a single click and without processing fees. When you add PayPal to your small businesses online, PayPal supplies you with the customer’s shipping address and contact information when applicable.
PayPal payments standard
PayPal Payments Standard is another payment option that allows customers to pay for goods and services, with or without a PayPal account. It gives you the option of getting paid through credit and debit cards, sending invoices, and receiving PayPal payments, among others.
PayPal Payments Standard offers everything you get from PayPal Checkout, as well as other payment options your medium business enterprise needs. With PayPal Payments Standard, you get compliance with PCI, discounts, phone support, special financing, all without setup, withdrawal, or monthly fees.
PayPal payments pro
This online payments option comes with a monthly fee of $30 but offers a host of premium payment services. This option is for merchants who want to be in total control of their checkout process and use a virtual terminal that accepts PayPal payments through phone, mail, or fax.
With this package, customers that buy from your store can make card payments or choose any other payment option for the checkout process without leaving your store. Payments Pro from PayPal offers recurring
What You Should Know About Accepting Payments with a PayPal Business Account
PayPal allows you to accept payments for your small business. Customers can transfer money from other PayPal users, credit and debit cards, card readers, online money transfer platforms, etc.
PayPal remains a preferred method for many who are in search of convenient payment options. When you use PayPal, there are certain transaction fees you may incur.
- For transactions within the United States, PayPal charges 2.9% of the transaction amount and a 30¢ flat fee for each transaction.
- For transactions outside the United States, PayPal charges 4.4% and a flat fee that depends on the currency.
in-storetransactions, the fee goes down to 2.7% within the US and 4.2% outside. The flat fees are still applicable in this instance and extra fees may be incurred when payments are made in other currencies.
Other Features You Can Enjoy from Using PayPal for Your Online Business
Apart from accepting payments and other small business payment needs, a PayPal business account also gives you additional services that make business convenient. They include giving you a debit card, invoicing options, and more…
We just gave you the lowdown on how to use PayPal for business payments. PayPal is one of the most popular payment options for individuals and businesses. Apart from the straightforward platform and general convenience PayPal offers, it also has a fair pricing system and allows you to use different payment options like credit and debit cards.
With an ecommerce platform like Ecwid, you can take advantage of all the services PayPal has to offer for all your transactions while giving your customers the most convenient payment options and services available. Your business can start selling on your website or other platforms like Amazon, Facebook, Instagram, etc. Simply sign in to sync your PayPal account with your ecommerce platform and get started today. Your product and customer data will be imported directly into your new website.
- How Does PayPal Business Work?
- How to Use PayPal for Business
- What is a PayPal Business Account?
- How to Set Up a PayPal Business Account
- How Much is a PayPal Business Account?
- How to Close a PayPal Business Account
- How Much Does PayPal Charge for Business Transactions?
- How to Change Paypal Business Name
- What Is Paypal Shopping Cart?
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