PayPal is an online payment processing site and company that has been around for several years and was primarily associated with people purchasing items online, through online stores and auction sites such as eBay. These sites created a buzz for PayPal that has expanded the company. PayPal can now offer the individual and business owner alike various options for merchant services and individual purchasing.
Uncommon Facts about using PayPal
PayPal offers small business owners and independent contractors with options that are competitive in merchant servicing and online retailing. PayPal offers servicing that assist the business owner with processing payments, setting up re-occurring payments, collects and stores data, does reports that can be used in financial statements, and archives financial and transactional data for later usage.
Pay pal has several options in using their merchant services. The one that many use is the free option for processing and accepting payments. Then they also offer options to have some control over the shopping cart option on your website and even have virtual terminals. This increases the flexibility that the customer has in making payments to the company and for the owners with diverse choices in using the merchant services that PayPal offers. PayPal has even offered additional payment options such as a mobile app and card reader that can be used on a mobile device like a mini terminal. This convenience allows businesses to have contractors in the field that can accept payments from customers without them going online to respond through an invoice.
PayPal for US Subscribers
If you do live in the United States, PayPal requires that you add your bank account information and PayPal will make two deposits into your account. The amounts per each deposit will be between 1 cent to $1 USD and tend to appear within 2 or 3 business days. In order for you to confirm your bank account, you will have to activate your account accordingly. Remember, an account in the US can also be activated once you enter your bank account or credit card information.
After you have completed this, you will be able to start using your PayPal account to make purchases online and even in stores. You can manage specifics settings on your PayPal account to match your personal preferences.
Business customers can send invoices to their customers to pay and the money is immediately available for the business owner or company to use via a debit card. This is done with having a direct link with a checking account or with the PayPal debit card. This debit card is used like any other checking linked card and is accepted anywhere Visa or MasterCard is accepted. In addition, money can be transferred from a regular checking account into the PayPal account and readily accessible for the business owner.
PayPal has moved from just being a personal and business money center and online purchasing and payments received to extending credit to those whom qualify. PayPal has linked with several online merchants to offer a way for customers to pay payments on services or merchandise through a credit based system. This feature and benefit allows individuals to purchase products, pay in payments, and yet still receive what they are buying.
PayPal also offers a credit card that can be used to the extended credit limit on the card. It works similar to most credit cards but allows a business owner or even a contractor the ability to pay that credit line back directly with their invoices that they receive from their PayPal account. This convenience makes it easier for a business owner to keep track their spending and what are business expenses.
PayPal has a vast amount of benefits that many people are unaware of. Each of these benefits are consistently being updated and changed to better suit the customers of PayPal. PayPal has shown itself to be a competitive merchant service provider in the business world and yet a leader in safe purchasing for the consumer that has only a personal account.
Can I Get Cash From PayPal
The use of PayPal is becoming so popular, that it is starting to replace people’s bank accounts. PayPal offers different payment solutions for individuals and businesses. One of the convenient features for consumers is the PayPal MasterCard. The PayPal MasterCard is automatically linked to your PayPal account so you can access your money inside stores, or get the cash out of an ATM. PayPal doesn’t restrict your purchases to online transactions!
Also read: How to Get Paid Right Online?
Image – a screenshot from PayPal.