Monday, July 2, 2012

What Is PayPal

What Is PayPal

If you want to know who to thank for the invention of PayPal, thank eBay, the internet auction mega-website that started the auction website revolution.  In its infancy eBay needed a secure, easy way for all of their buyers to pay for their purchases and to all of their sellers accept payment, and PayPal was the solution.
Though they are separate companies the fact is that if you sell through eBay you need a PayPal account since practically nobody will buy from you if you don’t.  It’s a truly symbiotic relationship because without one the other might just fail to function.
PayPal was purchased by eBay in 2002 for $1.5 Billion but the fact is that it was practically a bargain seeing as the payment processing website has had steady growth every year and is worth over $7 billion today. PayPal has nearly 60 million customers spread out in almost 40 countries, handling more than $50 million in transactions on any given day of the week. Those are some incredible numbers.
One thing that does set PayPal apart is that, over the last few years, people have started using PayPal to pay for other services and products that have nothing to do with eBay.  You can now pay for all sorts of thing on all sorts of websites using PayPal, and that fact is evident in the nearly $4 Billion Dollars in revenue that PayPal made in 2011.
The only requirement for setting up your own PayPal account is an email address, although if you want to be ‘verified’ (and that’s a good idea) you will have to provide and link to your bank savings or checking account.  With a Personal Account (their basic account) you can send or receive money from anyone else anywhere in the world that also has a PayPal account and make purchases or sales on eBay, making the buying or selling of goods internationally a reality for millions.
There is a Premiere and Business account also for people that do a lot of business on eBay or on the internet in general.  The simple fact is, if you need to accept payments or send money on the internet PayPal is one of the best, most secure and most trusted names available. If you sell or want to sell on eBay it’s a definite must-have service.

Sunday, July 1, 2012

PayPal Business Account

 PayPal Business Accounts allow you to do business under a company or group name, accept all payment types for low fees, and accept payment from customers without PayPal accounts. Business accounts include all of the benefits of Premier accounts.

Special Features: 

PayPal Business Account

Accept unlimited credit card payments.
Subscriptions and Recurring Payments
Implement subscription payments for your content or services.
Mass Payments
Make payments to hundreds of people at once.
Multiple Logins
Give your employees limited access to your PayPal account.
7 day-a-week customer service call center.

PayPal Premier Account


PayPal Premier Account

allows you to accept PayPal payments that the buyer makes using their credit card. That gives you a much greater range of buyers who will be willing to buy from you. In exchange, you pay a fee on each transaction.

If you do not have a Premier account, the buyer can only pay you using the checking account that is linked to their PayPal account. That is, when they pay you, it is debited directly from their checking account instead of from a credit card.

The basic service is free, but, of course, you'll not be able to take payments from buyers who wish to use their credit card.

Which is better for you depends on how much you intend to sell on eBay and how big of a pool of potential buyers you want. If you are only occasionally selling things, you can probably stick with the basic account. But if you start selling a lot of stuff, you may wish to upgrade to Premier.

Here's what you can do (and what I did)... stick with the basic account until someone actually attempts to pay for the transaction with their credit card. Then, when someone does, PayPal will send you a notice giving you the option of upgrading to the Premier account (and thereby accepting the buyer's credit card payment), or denying the credit card payment and requesting the payment be made from the buyer's
checking account.

However, if you decide you want to stick with the free basic account, you may wish to indicate in your auction description that you only accept PayPal payments made from the buyer's checking account.

Hope this helps. Good luck!

PayPal Account Types

PayPal Account types are designed to provide you with the right amount of functionality for your needs. There is no cost to set up an account - no matter which account you choose. You may upgrade your account at any time.

Compare PayPal Account Types

Account BenefitsPersonalPremierBusinessStudent*
Send money
24-hour fraud surveillance
Customer Service availability
eBay Tools
Merchant ServicesLimitedLimited
Accept credit or debit cards
PayPal Debit CardLimited
Multi-user access
Login to PayPal