Setting Up and Using A PayPal Account.
Why should you use PayPal for your payments? The answer is simple; it is one of the best payment providers that are easy to set up and use.
I wouldn't say it is the best. There are other competitors in this sector like Payoneer, Skrill, and AirTM among others.
PayPal was among the first payment providers to be used by the eCommerce industry and is still a favorite for many. The company, believed to be owned by the eBay group is a globally accepted payment system.
In this article, we are going to look at a few tips on the use of PayPal, how to set up an account, some of its benefits, and how to stay out of trouble.
There are a few things that you need to do whether you intend to create a PayPal account for individual or business use.
Before we get started, here are the requirements to create a PayPal account:
- Full name(business name)
- Original Identity documents issued by the government in your country of residence.
- Business Details.
- Address(Either business or personal)
Note: The requirements are usually subject to change depending on the company policies.
1. How do I set up a PayPal account?
This is a simple task. Go to PayPal website www.paypal.com and tap the register option. You will be prompted to enter your details and confirm your registration via email.
Once you have created your account, you can start receiving or making payments.
2. How do I receive or make payments?
To receive payments on PayPal, simply share your email address with the person you're receiving the payment from. You will receive an email notification within the inbox of the email address you used to sign up.
Always make sure you submit the correct email address to avoid your payment being sent to someone else.
If you want to make payments from within your account, log in to the account and navigate to the payments option where you can pay for a service or send an invoice to receive payment.
Most companies and businesses have utilized the integration feature provided by PayPal, which allows website visitors to make payments through a simple tap of a button.
3. What more can I do with a PayPal Account?
PayPal offers more than the simple payments it is believed to do. with a PayPal account, you can create a fundraiser and share the link with friends and family, ask for payments through an invoice, and integrate it into your website either directly or using Webhosting platforms like WordPress, Big Commerce, Shopify, 3D cart, and more.
Important Points to understand about PayPal.
4. Payments charges
When making or sending payments on PayPal, there are charges that you will incur. On a platform like Shopify, there is always a fixed 2% charge per transaction plus additional charges that vary depending on the amount transacted. In some cases, the charges could be 3.4 plus a fixed fee.
The charges are different depending on location and payment policies. Sometimes you will have to be charged taxes. Read more here.
5. Verification
PayPal requires you to verify your account in order to make or receive certain amounts of payments. Additionally, most companies that partner with PayPal require users to have a verified account before they can access any services or get paid. The verification process is also used to curb fraud, a problem that has become too common.
If you have recently joined PayPal, you can learn how to verify a PayPal account.
6. Disputes and Cases
Disputes and cases are very common if you use PayPal for eCommerce or service purposes. Such cases arise when the product or service has not been delivered or does not meet client expectations.
There are customers and clients with bad intentions who are going to open a dispute even if the product or service they have received is okay. These kinds of customers or clients are fraudsters and can put you in a lot of trouble with PayPal. Be on the lookout for such and report them to support or deal with such issues before they get escalated to PayPal.
In cases where your buyer or client provides enough supporting information, you will have to make a refund and receive a penalty in the form of a chargeback.
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