Paypal.com is a worldwide online payment system. Overall, the PayPal payment option makes it easier for owners of online businesses to receive and make payments. PayPal currently operates in 202 markets according to the statistics released in 2018. Also, there are over 237 million registered and active accounts.
Customers can send, receive, and hold funds in 25 currencies worldwide with the PayPal payment option. It is fast, easy to use, and cost-effective. In addition, your customers will feel comfortable when using the PayPal payment option. This is because it is a trusted and globally accepted payment method for online shopping.
The PayPal payment option offers you a credit card processor with a merchant account. This includes a payment gateway combined as one package. There are no recurring fees. Free anti-fraud tools also protect users of the PayPal payment option. Other benefits include free merchant tools, no gateway or set-up fees, and free eBay tools. For new users, the PayPal payment option offers zero transaction fees.
PayPal offers small merchants a very low cost virtual account. However, the rates may seem high for businesses that record few sales. Even so, highly patronized businesses will get rates 10% lower than the merchant account.
PayPal – A Great Option For Small Business Owners And Professionals
You do not need to own a website to use the PayPal payment option. Payments can be received by presenting your email account to customers. They do not need to have a PayPal account before they can pay you.
You may frequently engage in online auctions. Then, PayPal has features that will automatically notify the winning buyer of the offered listing. A backlink to the listed item will also be provided. In addition, PayPal also handles your shipping needs. It has features that can help you figure shipping costs and generate shipping labels. You can also insure shipped items, and track item delivery, etc.
You may be planning to build and set up a website. That said, you can easily manage an e-commerce website using the Merchant Solutions at Yahoo. Furthermore, PayPal offers users site building tools. These are simple tools that you can use to manage your orders, inventory and so much more.
The PayPal payment option has impressive security features. With over 13,000 employees, the system uses encryption and CVV2 checks. There are also active measures to stop identity theft. Therefore, users have total protection for unauthorized payments. Furthermore, PayPal offers you the option of installing their safety bar for free which lasts for one month; it is a protection against malicious emails and spam.
There is also a dispute resolution portal that can help users settle issues regarding the quality or the content of goods. In addition, PayPal has acquired the VeriSign payment services. This is in its bid to include any related economys’ best tools for protecting payments in the PayPal system.
PayPal Has Faced Some Criticism
Paypal reports lower than a 0.5% rate of loss which is remarkably low when compared to MasterCard or Visa. But, there have been some critics of the PayPal payment option. One of the issues pointed out is that the protection laws for consumers are ineffective by using PayPal.
For instance, you will not be permitted to issue a chargeback with Paypal in the event of an unauthorized activity on your Paypal account or credit card. There are also complaints that PayPal inserts a term which allows the system to withdraw funds from your bank account. This is to ensure a recovery can be made against you.
These allegations and critics do exist. Even so, it is still true that the PayPal payment option is now a leader in the area of world online payment options. Moreover, Paypal has renewed its focus on improving customer satisfaction. With their goal, PayPal should have the ability to win the patronage of more users globally.