How does Paypal Work?
PAYPAL is a third party processor which
allows you to accept online credit cards.
The first thing to understand is that it is owned
by Ebay. Ebay encourages its
buyers and sellers to use PAYPAL as a convenient
method of payment.
The PayPal Business Account features:
- Low cost. No start-up or monthly fees, no cancellation fees and no minimum payments Lower transaction fees than other merchant accounts.
- Quick setup. Sign up and get started in minutes. No extra software or hardware needed.
- Security. As an industry leader in fraud prevention and risk management, PayPal has 60%-70% lower fraud loss rates than other merchant accounts.
- Network of buyers. One in three online buyers in the US has a PayPal account, and over 58,000 users worldwide sign up for PayPal each day.
Click here for Full Paypal details
DISADVANTAGES OF PAYPAL
When you sign up for an account, you must go through
a verification process. This involves PAYPAL debiting
your credit card a small amount and when it appears
on your credit card statement, it has a unique four
digit code. You then input this code on your PAYPAL
site to verify who you are.
However, many people report that these codes never
appear on their statements! In addition, you may have
to wait up to a month to receive your credit card
statement. Who wants to wait this long to set up
an account? Isn't the Internet supposed to be fast
and convenient?
Another problem is that your customers must register
for a PAYPAL account themselves to pay you. This
happens often on Ebay. However, many people are
unwilling to go through the tortuous process of
setting up an account.
Remember on the internet, the easier you make it
for your customers to buy from you, the more sales
you make.
Other problems include frozen accounts
with up to thousands of dollars in them.
ALTERNATIVE TO PAYPAL - 2CHECKOUT.COM
2CHECKOUT is an alternative third
party processor which is easy to
join and has a good reputation.
Accept 2Checkout Credit Cards within minutes for a low one-time fee and instant set up,
Click Here
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