PayPal became synonymous with Internet shopping. We all have made online transactions using PayPal. For some, it was their first paycheck. Others started their entrepreneurial journeys with it. Opening a PayPal business merchant account proves decisive for business growth. Small businesses secure customers’ confidence by opting for PayPal for payment solutions. A business account with PayPal offers the same experience as a personal account, only more firepower.
PayPal merchant accounts lead the first stage of growth for online retailers. PayPal has evolved its services to meet the demands of businesses. What do you expect from your payment service provider?
- Seller protection
- Fraud prevention
- Chargebacks
- Data insights
- Automation
- Custom reports
Merchants should get over the expression of ‘used PayPal in the past.’ We suggest checking the business accounts. You’ll find a new face of PayPal. Merchants have more reasons to integrate PayPal. A merchant account is not the likes of which you would have seen before. PayPal Pro plans offer advanced features.
PayPal Business Account Set Up
You enter your name and email and select a password. Log in to your account. Update your Tax id. Or provide social security number to proceed with the application. Share some information about your business. You don’t need a reminder to link your bank account. Go ahead. You have got a PayPal merchant account.
PayPal Business Merchant Account: Stay Competitive
A PayPal business merchant account comes loaded with reporting and analytics features. Leverage the reporting prowess of the platform. Strategize data to create marketing campaigns. Analyze the site performance. Customize your reports. Never stay in the dark about what’s working on your site and what’s not.
Do you see the dots connecting sales, complaints, and refunds? You may or may not have analytical skills. Custom reporting triggers develop an analytical mindset. PayPal merchant accounts track visitors’ data to offer new insights. Begin with top products on your site. Check their performance at specific hours or overall statistics. Any attention-catching points?
A top Payment Service Provider like PayPal helps entrepreneurs become all-rounder. We at Your Merchant Services Rep (YMSR) put PayPal Culture over everything. It is such an uplifting feeling to see the company culture become a deal-breaker.
Customer Convenience and Usability
What works in a brand-consumer communion? Businesses keep looking to improve customer experience on the site. Look for their convenience even when they haven’t visited your site. Think about their convenience and checkout experience. When you select PayPal, you give customers every reason to visit your site and build a viewpoint based on product quality and site experience. There are more chances of winning their confidence as they don’t share any security concerns. PayPal merchant accounts have made these factors the cornerstone of their business model.
Returning Customers = Recurring Billing
We told you PayPal is a powerhouse of features. Everybody loves subscription models- From buyers to brands. Merchants have one query: Is the system foolproof to manage the ever-changing landscape of recurring billing? PayPal offers a subscription billing service to wipe out the complexities. Businesses can focus on upselling. You have relevant data to recommend products knowing which product to promote. It forges deep customer ties.
A Peep into PayPal Customer Service Ideology
Recurring billing comes bundled with PayPal Checkout. The recurring billing feature works as an add-on. It costs $10 per month. When you see it as a part of PayPal Checkout and paying no fee, you get one thing right about PayPal: Customer Service. The Pro plans don’t have recurring billing included in them. It underlines their commitment to offering revenue-enhancing features free.
Your Merchant Services Rep (YMSR) acknowledges simple yet effective marketing techniques. It is what customers love the most. They want to see how brands make them feel special. PayPal sides with customers on recurring billing features.
The merchants don’t need a full-service merchant account. Your customers don’t need a PayPal account to buy from your store. It is what convenience looks like.
PayPal Business Merchant Account: Brand Visibility
It offers two pro plans: PayPal Payments Advanced and PayPal Payments Pro.
- PayPal Payments Advanced ($5/Month)
- PayPal Payments Pro ($30/Month)
PayPal Payments Advanced
Merchants love hosting checkout pages. The prospect of keeping the customers on-site during the checkout makes sense. They consider a $5 fee a business investment. What was your last experience of saying goodbye to someone you know? The emotional bonding stays. Keeping customers on your site throughout the shopping journey leaves a lasting impact. You see them off and do not interrupt the experience by redirecting them to another website and welcoming them back.
The security aspect might add to your work as you need to manage PCI compliance. Merchants still find it an unbeatable deal. Another advantage is to customize the payment buttons. You can select the colors to match them with the brand spirit. The pricing structure convinces businesses to try it and see the kind of difference it makes.
PayPal Payments Pro
PayPal Payments Pro comes with a $30 monthly fee. What do you call if you can get $30 worth of benefits with the deal? Merchants find it a win-win situation. They get virtual terminals worth the same price. Businesses have complete control over the checkout experience. The customization features galore. There are not many instances where creative forces meet commercial ones.
PayPal Fees
- Standard: $0
- PayPal Payments Advanced: $5 Monthly
- PayPal Payments Pro: $30 Monthly
Processing Rates
- Credit and Debit Cards (Standard): 2.99% + $0.49
- Digital Payments: 3.49% + $0.49
- QR Codes (Card Present) PayPal Zettle: 2.29% + $0.09
- Online Card Payments (Pro Plans): 2.89% + $0.49
Good to Have Information
- Payouts take between three and five business days. Have instant payout with additional charges of 1.5%.
- Contact the customer support team from Monday to Friday, operating from 8 a.m. to 8 p.m. Central Time
- No contract. No account set up or early termination fee.
A PayPal business merchant account is a breakthrough investment for small and independent businesses. You can sign up and start accepting payments online within minutes. Your Merchant Services Rep (YMSR) recommends PayPal merchant accounts to build your first online venture. Imbibe PayPal’s cultural aspects to give your brand a global push.
Conclusion:
Want to open a PayPal business merchant account? Some businesses feel lost comparing PayPal with Stripe and then evaluating their options. The comparison part is taken. PayPal has something that comes as a default characteristic: Assurance. Other merchant service providers have security measures and advanced features in place. The familiarity and convenience part isn’t even a feature. How would you compare or rate it? A PayPal merchant account fixes your brand image too. Businesses may not realize or want to accept but have a strategic advantage with PayPal.
