Why you absolutely need a PayPal account when running an online business
By Amirul Mokhtar 2 years ago
PayPal is definitely the most well-known online payment service in the world. With more than 230 million accounts in 203 countries. If you have ever bought from ebay, you probably have heard of it or maybe even used it. If you haven't, it's ok.
The basic concept is this; PayPal offers a secure service through which money can be transferred from one account to another. You can also link your credit/debit cards and also your bank account with your PayPal account.
If you have read in previous posts, payment gateway is really important in ecommerce (click here to read it again) PayPal is one of those online payment service that every online sellers must have.
Here are the reasons why you absolutely need a PayPal account when running an online business:
Receive payment and transfer money wherever you are
This is the dream of every online seller, receiving payment even when on vacation. But it will only be just a dream if you don't have online payment system like PayPal, set up. You can link your bank account so that whenever you receive payment, it can be directly transferred to your bank account.
Easier to source products from overseas
Buying products from overseas and selling it locally is a common practice among online sellers. PayPal is well-known around the world and it is the most preferred method of online payment. This is because it is more convenient and secure compared to other international fund transfer method like Western Union. Some sellers source their products from ebay US, where PayPal is the primary payment method.
Reach out and attract international audience
The more places you can sell, the more potential sales you'll have. PayPal helps you widen your potential reach by making it easier for you to accept payments from international customers. Since PayPal is well-known around the world, international customers shouldn't have a problem if you offer PayPal payment method. And currency conversion is also a breeze with PayPal. It’s remarkably easy, and can significantly expand the scope of your business.
Fast and free to set up
Speaking of easy, let’s talk for a moment about how easy it is to sign up with PayPal's services. PayPal’s registration for a business account is pretty much a just one page fill in the blank process. Upon approval, you’re up and running and accepting credit card payments in no time.
Did I mention it is free to set up? PayPal only charges per transaction. Which means you only pay when you make sales. This is great news for those that are just starting.
So all in all PayPal is great and every online seller should use PayPal online payment service. It's fast, easy, secure and allows you to expand your business to international markets.
Check out this quick video on how PayPal works and how easy it is to sign up. You can sign up for a PayPal account at www.paypal.com