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Using Paypal for business finance transactions
The first thing to know is why people are starting to use Paypal. The reason for this is because it is a secure sight that lets them buy what they need without ever having to give their credit card number to the actual vendor that they are going through. Also Paypal has fraud protection which helps the consumer feel more at ease. Also they can use a variety of different payments going through Paypal without having to stick strictly to credit cards. The second thing is for you Paypal might be the way to go because you don't have to pay monthly or annual fees to a merchant services company. You will have to pay a certain percentage to Paypal but it might end up being cheaper then a merchant services company. The third thing is to compare prices. If your company is doing a lot of financial transactions and they are large transactions you might be better going through a merchant processing company. You will want to make sure to do your research and see the price difference. You will want to compare the merchant processing annual fee along with what percentage they take from each transaction. Then compare what you would be paying to Paypal. Even if you don't know an exact amount that you will be processing just estimate and you will be able to get a pretty good idea. The fourth thing is to find out how to set up Paypal. Depending on what type of business you are and how you are processing payments will determine how you will set up paypal. If you have a website that you are having people order from you will probably need to link your shopping cart to go to Paypal when the customer is ready to check out. You also may have to have a secure site. A secure site will cost you more money to run and to maintain but you will have more people buy from you if they know they are doing it through a secure site. The fifth thing is to make sure that you know exactly what Paypal's agreements are. You will want to make sure that you understand and agree with most everything that Paypal does when using it for a transaction. The reason for this is so that you are not frustrated because you thought something was going to be one way and it ends up being another. These are just some of the things you will want to make sure that you keep in mind when using Paypal for business finance transactions. There is a lot of information out there on both Paypal and other companies that can offer business finance transactions. So make sure that you do your research so that you can determine if using Paypal for business finance transactions is right for you and your business.
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