What is PayPal Business Account?
If you intend to do business online then chances are high that you are thinking of setting up a Paypal business account to receive payments. Having used PayPal, I have no doubt about its features, suitability, and capabilities. As a leading payment solutions provider online, PayPal offers a robust number of features that facilitate fast, reliable, and secure transactions. Without wasting time on formalities, I want to present to you the features, options, and examine the capabilities and benefits of having a Paypal business account.
Who can Use PayPal Business Account
The Paypal business account was created specifically for online merchants who operate small businesses or e-commerce websites online. If you run an e-store, a corporate firm, a service agency, or a dealership online, then you are considered a good candidate for the business account. To start using a business account, you have to sign up in PayPal and verify your identity and that of your business.
What Can You Do with a PayPal Business Account?
A Paypal Business account has numerous features that facilitate a number of functions for a business. With an active business account, you can accept direct payments to your bank account, debit card, and credit card a low fee. Additionally, you can grant up to 200 people limited access to your business account and set up individual e-mail address for your customer service.
Paypal Business Account Options
As of now, PayPal offers three business account options; standard, advanced, and pro. Let’s look at the major highlights of each of the three options.
- Standard - with this account, you can accept direct payments from another PayPal account or from Credit Cards. It allows you to create buttons that customers can click in order to complete payment from their PayPal accounts once they login or using Debit/Visa card if they have no PayPal account.
- Advanced- allows you to receive payment directly from another PayPal account or Credit and Visa Cards. Additionally, it provides buyers you with a secure check out template that you can incorporate into your website. This allows customers to check out directly from your site instead of using buttons to link to Paypal. It also supports a variety of shopping cart platforms.
- Pro- For just $35, the PayPal Pro account gives you full control over how you set up APIs and brand the check out section. It also supports anti-fraud measures and back end integration which enhances user experience. Besides that, it allows you to accept all major credit cards via, mail, fax, and phone or take orders using the same.
Why use a PayPal Business Account
By now you, already have a good impression of what a Paypal business account can do for you. To better appreciate PayPal for business, I shall highlight some of the major benefits of creating a business account.
- Receive money instantly- a PayPal business account allows you to receive money fast from transactions or products that you sell online. The money is credited instantaneously into your merchant account when the customer completes an order. Once the money reflects on your account, you can withdraw it to your local bank account or spend it online.
- Enhance the experience of your Customer - as of now; PayPal remains the choice method of receiving and sending payments online. What makes it exceptional is the fact that it is free for customers most countries across the globe. Additionally, it supports mobile checkout and customers can make payment in more than 24 currencies.
- Lower your Costs - although PayPal charges a fixed percentage and a small transaction fee for every sale that you make, it charges no fee for set up, downgrades, cancellations, or withdrawals something which other providers charge.
- Secure your business from fraud – apart from lowering business costs, PayPal has done a remarkable job in securing funds transfers and facilitating safe payments online. A combination of fraud screening, anti-money laundering, and seller protection policy create a hedge of protection for consumers and merchants and lowers the risk of fraud.
The PayPal Business Account is an indispensable resource that can simplify and enhance the quality of business payment online. If you operate an individual or small business, then the standard or advanced will suffice, but if you operate a large company with several customers and transactions in a day, then the robust PayPal Pro account will come in handy.