PayPal Business Accounts: PayPal is an electronic commerce company that facilitates payment between parties through online transfers. PayPal allows customers to establish an account on its platform, this connects to a user’s credit card or checking account.
Once identification and proof of funds confirm, users can begin sending or receiving payment to and from other PayPal accounts or through the company app.
PayPal was originally by Peter Theil, Luke Nosek, and Max Levchin in December 1998 as confinity. PayPal offers personal consumers to shop, pay, and even transfer money with relative ease. Before you can use PayPal, you have to verify all information to make sure the person using the account is the rightful owner.
Although PayPal does not serve as a bank it governs by consumer protection regulations. It also advised that PayPal users check their accounts regularly.
About PayPal Business Account
PayPal business accounts make it faster and easier for businesses just start receiving payments. As well as those that are more established to accept and process credit card payments, debit card payments, and more in over 25 currencies and from over 200 countries.
Moreso, the PayPal business account also includes a suite of services beyond payment processing. There are lots of benefits of the PayPal business account and there will outline.
Types of PayPal Business Accounts
The PayPal business accounts comprise two overarching payment processing options for business owners
PayPal Payment Standard
The PayPal payment standard serves as an ideal for business owners to start with. As well as those who are more than happy with a no-frills checkout option on their website or via their e-commerce platform provider.
In addition, this also includes the standard PayPal business account benefits, like toll-free phone support and simplified PCI compliance functionality. Customers can easily visit the PayPal site to complete payment and can return to the business site afterward.
PayPal Payments Pro
A step up from its standard counterpart, PayPal payments pro includes all of the perks that come with the basic accounts as well as the ability to accept via phone, fax, or virtual terminal. This account gives business owners complete control over their checkout pages. Unlike the PayPal payment standard, this option comes with a monthly maintenance fee of $30.
Benefits Of A PayPal Business Account
there are lots of benefits of the PayPal accounts that many people don’t know about but some of them will be highlighted in this article.
No monthly maintenance payments
You don’t get to pay monthly maintenance payments when you are using the PayPal business account, there are also no setup or cancellation fees. The PayPal business account is that the standard accounts come with absolutely zero monthly.
Another benefit of the PayPal business account is the fast setup. It takes just as little as 15 minutes to get up and running with a PayPal business account. You can go through easy online steps wherever and whenever you want since the registration process is completely digital.
Another big benefit is the flexibility when it comes to accepting payments. PayPal business accounts make it possible to do business over borders and even across language barriers are available in 25 currencies and across 200 countries. Customers can pay with major debit and credit cards as well as PayPal, Venmo, and PayPal credits.
Who Needs A PayPal Business Account?
PayPal business accounts are designed for purchasing and sending money. All that is required is for you to provide contact information and a verifiable bank account. The PayPal business accounts also prevent you from making the mistake of mixing up personal purchases.
Going further, with business expenses and personal monetary gifts from business revenues. PayPal business accounts are made for everyone who has or owns a business.
Why Have a PayPal Business Account
Since PayPal is one of the largest online payment systems used in the world today, some people probably wonder why or think about the point of opening a PayPal business account. If this is your case, worry not as I will be showing you some reasons why you need a business account with PayPal.
How to Create a PayPal Account
Creating a PayPal account is very easy. Although there are two different types of PayPal accounts you can sign up for. However, Processing PayPal account signs up for both personal and business account require some important information.
However, more is expected of you signing up for a business account. See the steps below on how to sign up for PayPal accounts both personal and business accounts.
Personal PayPal Sign Up
- Visit the PayPal website or install the PayPal mobile app
- Tap on the sign up for free button
- Enter your mobile number
- Click on the next button
- Verify your number with the code sent to you
- Set up your profile
- Click on the next button
- Add your address
- Click on the agree box
- Tap on the Agree and create account button
- Follow the other instructions given to you.
Create A PayPal Business Account
- Tap on the Open a Business Account link
- Provide an email address
- Click on the Continue button
- Set up a password
- Tap on continue
- Provide the required information about your business
- Click on the agree button
- Tap on Agree and Create account button
- Follow other instructions given to you
After creating an account, you can now start using PayPal for your business. Also for your personal use to send and receive money. This would only work when you are already logged in.
In addition, the login is only possible after you have processed the signup. Because your login credentials are gotten when you want to create a Paypal account. Sign up for PayPal today and make money transactions very much easier for you.
Is PayPal Business Free
As I have said before, the PayPal business account is totally free to create. The PayPal business account uses to send and receive money in any country. You can access your PayPal business account on any web application. However, in other to collect payments for services rendered or items sold.
PayPal Credit for Your Customers
Also, PayPal credit offers its very own terms for your customers and they might even be more favorable than terms offered by their other credit cards. One of these benefits is that a customer will pay no interest if the transaction is paid in full within six months on purchases of ninety-nine dollars ($99) and above.
PayPal Business Loans
With an account, your business can be eligible for two types of business loans. These are the PayPal Business Loans and PayPal Working Capital.