It seems that everyone has a PayPal account, but most people think that it is a way to transfer money or even use it as a digital wallet. You would be foolish to completely forget PayPal for business purposes, because it has always been, and still is, one of the most elegant options that exist. However, in these PayPal reviews, let’s take a look at what PayPal has to offer for the processing of business credit cards. Sure, you could use the system as a freelancer and collect payments for your services, but this is a completely different type of transaction.
Our goal here is to consider the rates provided through PayPal, how well it integrates with other systems and how many types of credit cards can pass.
The good thing about PayPal is that it does not keep secrets regarding prices and rates. This is one of the main reasons why the user count has increased steadily since the beginning of PayPal. You can get the configuration in minutes, and the early cancellation fees are non-existent.
There’s a lot to talk about with PayPal, so let’s take a closer look to understand exactly how much you’re going to spend and what kind of companies should use PayPal.
|Web transactions||2.9% + $0.30 per transaction|
|Swiped Mobile and in-store||2.7% percent of transactions|
|Keyed-in mobile and in-store||3.5% + $0.15|
|Virtual terminal transactions||3.1% + $0.30 per transaction|
|Chargebacks||You pay a $20 fee|
PayPal Review: Main features
Various plans and services are offered through PayPal. Although it may seem a bit confusing, the following list will help guide you through the selection process.
- Express payment – A simple supplement for companies that accept regular credit cards in another way.
- PayPal Payment Standard – This is a basic payment processing plan, which works for companies that do not currently accept credit card payments. It gives you the functionality to do it.
- PayPal Payments Pro – Pro provides a hosted payment on its own website.
- PayPal Here – This is the mobile application to collect payments on the fly.
- Virtual terminal – The terminal is for picking up orders by mail and by phone, and costs $ 30 per month.
- Digital goods – To set things up as recurring payments.
- Bill Me Later – Unique to PayPal, this feature does not offer interest financing to customers.
- Online Billing – Independent professionals and contractors can send fast invoices for the services they perform.
PayPal Review: Ease of use
Is PayPal easy to use? Anyone who uses PayPal will make fun of that question, because yes, it’s incredibly easy to use. That’s what the entire platform was built on. You can grab a simple PayPal button and start selling products from any website. Even if you do not have a shopping cart, the PayPal button will take care of everything for you.
The mobile application is as simple as Square, and they give you a free swiper to plug into your phone’s headphone jack. Another area that impresses us is the report. Whether you raise money through your online store or on a mobile interface, all transactions will end up in one place. It is managed through a browser panel, and you can export the reports to make predictions for the next few years.
PayPal Review: Prices
As discussed, prices and fees are detailed on the PayPal site. There are quite a few of them, so we cover the most important ones below:
- Web transactions – 2.9% + $ 0.30 per transaction
- Swiped Mobile and in-store – 2.7% of transactions
- With mobile technology and in the store – 3.5% + $ 0.15
- Virtual terminal transactions – 3.1% + $ 0.30 per transaction
- Chargebacks – You pay a fee of $ 20
PayPal also has a special plan for companies with transactions of less than $ 10 per piece. This plan goes for 5% + $ 0.05.
Note that PayPal Pro Payment Plan requires a monthly payment. Therefore, you must spend $ 30 per month for additional services and features.
The main reason why companies accept the PayPal Payment Pro plan is because it allows customers to remain on their website when they need to make the payment. As you may have noticed in the past, most of the time a PayPal transaction means that the customer is redirected to the actual PayPal website. This is not a big problem, but for brand purposes, you’ll probably want to keep users on your site as long as possible.
PayPal Review: Support
The main problem with PayPal is that thousands of customers have talked about horror stories when their funds have been considered a risk and are linked to PayPal’s risk department. It seems that the company has relaxed with this accelerator, but there is still the possibility that thousands of dollars can be frozen at random within your PayPal account.
That said, the support team is pretty solid, but most of your time will be spent in the community forum or in the knowledge base. PayPal clearly wants you to solve most of the problems you have on your own, so they will guide you through a considerable amount of documentation that could solve your problems.
A PayPal blog runs steadily, so you can find articles about updates and suggestions. It is possible to connect with them on social networks, but we recommend going through the telephone or email. The telephone line operates from 4 am to 10 pm (Monday to Friday) and 6 am to 8 pm (Saturdays and Sundays). These are PST times.
One great advantage of working with PayPal is that you can usually complete a quick Google search to solve your problem. It has so many users that people are talking online quite a lot.
Who should use PayPal?
Can PayPal run a large e-commerce site? Technically, yes. However, we recommend it for companies that are just beginning, since it is very easy to install, and is integrated with options like Shopify, COXNUMX and BigCommerce.
As you move to more advanced payment processors, it’s not a bad idea to include a PayPal button, as many people love the convenience of putting their credit card in their pocket. The main reason why you would not use PayPal as your traditional merchant account is that most other solutions will save you more money as your sales increase. For example, exceeding $ 5 to 10,000 in sales will cost you much more with PayPal than with other options.
If you have any experience with running PayPal on your website, or if you have any questions about this review, please write us a comment below.