Gain access to millions of customers by using PayPal
How are you marketing to your customers and where are they heading to purchase your products? If you have a website where your customers can buy your products, you need to establish a merchant account to accept payments. PayPal is a great way to accept online payments as it's free to use. A number of your customers probably already have PayPal accounts set up and being able to have the ability to use this account to buy your products online can save them a lot of time.
PayPal is owned by EBay and just about every EBay customer has an account as it allows for direct transfer from your checking account or credit cards. Businesses use them to distribute payments to their contract workers and others for the services they provide. PayPal does have fraud detection and they will be able to help you if someone is trying to do something fraudulent. They also have a return policy to protect buyers in case you get a fault product or other item.
So many people enjoy using PayPal because it is very easy to use and understand. It's similar to have a "middleman" for your bank account and your online buying. You can transfer funds to your PayPal account right from your bank account and use this money for online purchases. If you are selling items on EBay or other sites, PayPal will be able to send the money to your bank account from their account. Having the funds move back and forth is a great option for any business that wants to accept online payments but doesn't have the financial resources to establish vendor accounts to accept credit card payments.
Customers need to have multiple payment options. When you can provide them with various payment options, it makes it flexible and easier for them to pay for the products. The other great part is that you are guaranteed your payment when the customer sends it because it comes from their bank account or credit card. You can open up disputes if there is a problem with the transaction, which is also ideal for businesses that are looking to keep themselves safe from issues.
To sign up for a PayPal account, head to their website. You will need a valid email account to create an account with PayPal and all the transactions will be emailed to you in order to let you know that there is activity with your account. PayPal is a secured site so you won't need to worry about your banking information getting compromised.
Once you sign up for the account using a valid email address, you then need to confirm your email account. This links the two accounts together. You can then input your credit card information and bank account information so PayPal has accounts to transfer money to and from. You also need to include your social security number when you are dealing with your bank account. Since this is a business account, you may need additional information for PayPal like your Business ID number.
After your PayPal account is up and running, you can then add PayPal as a payment option on your shopping cart. To do this you will need to acquire the Express Checkout code from PayPal, which is very easy to do as you follow the online tutorials from the PayPal site.
What also makes PayPal great is that you can send invoices from the PayPal site. This will help you to make your billing process faster and easier as you can stay on top of your accounts receivables and wait on shipping orders until your customers have made their payment.
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