Accept Credit Cards

PayPal Review- PayPal is one of the best free merchant accounts you can use. In this PayPal review, Best Internet Merchant Account is going to give you an overview of PayPal and PayPal fees. PayPal is great for some people so find out if you qualify!

PayPal offers a variety of business products for Internet merchants, including the means to accept cashless payments. This PayPal review fills you in on the important basics of how PayPal services may be able to benefit your ecommerce site.

What Is PayPal?

PayPal was created by the joining of Confinity, a Palm Pilot payment company with a side interest in cryptography and X.com, a financial services company for Internet clients in 2000. Because PayPal accepted payments for multiple clients, while eBay’s then payment system, eBay Payments, formerly known as Billpoint, had been limited to act only for eBay, eBay discovered that 50 times as many auctions were being paid through PayPal as through eBay Payments. PayPal’s showing was so strong, that it was able to become the first dot-com to make an IPO (Initial Public Opening) after the attacks of September 11, 2001. It was then acquired by eBay in October, 2002. Since then, PayPal has acquired Fraud Sciences (2008) to supplement its fraud management and detection, as well as Bill Me Later (2008) that offered credit transaction services. In 2010, PayPal’s use was extended to China.

PayPal’s Ecommerce Offerings

There are several PayPal ecommerce products that those who do business online should know about:

•　Credit Card Acceptance: Website Payments, Standard and Pro

The two levels of Website Payment service allow you to accept credit cards on your website. Both levels:

• Accept online credit card payments without the customer having to have a PayPal account
• Accept payments from PayPal accounts
• Includes a free shopping cart and works with most of the most oft-used shopping carts
• PayPal provides phone and email support
• PayPal provides fraud screening

For the standard version only, PayPal handles credit card data security (i.e., PCI compliance), there is a discount rate for nonprofit organizations, and PayPal’s logo appears along with your business name on credit card statements. For the Pro version only customers pay on your site (i.e., they don’t have to exit to the PayPal site), a credit application is required, and you are responsible for managing credit card data security (PCI compliance). Website Payments Standard has no monthly fee or setup fee.

Fees for Website Payments Standard:

Monthly Sales	Per Transaction Fee
$0 to $3,000	2.9% + $0.30
$3,000+ to $10,000	2.5% + $0.30
$10,000+	2.2% + $0.30
$100,000+	not listed
currency conversion	+2.5%
payment from outside US	+1%

Fees for Website Payments Pro if PayPal Express Checkout is offered (without it, rates may be as much as 1% higher):

Monthly Sales	Per Transaction Fee
$0 to $3,000	2.9% + $0.30
$3,000+ to $10,000	2.5% + $0.30
$10,000+	2.2% + $0.30
$100,000+	not listed
currency conversion	+2.5%
payment from outside US	+1%
monthly fee	$30.00

Fees to process phone, fax, or mail orders through Virtual Terminal service:

Monthly Sales	Per Transaction Fee
$0 to $3,000	3.1% + $0.30
$3,000+ to $10,000	2.7% + $0.30
$10,000+	2.4% + $0.30
currency conversion	+2.5%
payment from outside US	+1%
monthly fee (waived if this service is combined with Website Payments Pro)	$30.00

•　Payment Gateway: PayPal Payflow Payment Gateway

If you have a merchant account and only need payment gateway services, rather than Website Payment Standard or Pro, you can use Payflow Payment Gateway. As with the two Website Payment choices, you can choose to have PayPal host the checkout portion of your transactions and take responsibility for PCI compliance and data security with Payflow Link or you can handle this yourself with Payflow Pro.

Each service has fees for setup, monthly service, transactions above the allotted number per month, two levels each of fraud protection and support, buyer authentication, and recurring billing capability.

•　PayPal Mass Payments

The Mass Payments service is a tool for making regular payments or rebates. Payment is transferred from the business PayPal account to the recipients’ PayPal accounts and an email notification is sent to them. There is a 2% transaction fee with a limit of $1 on each payment. There is not setup or monthly fee.

•　PayPal Express Checkout

Express Checkout is an alternative to credit card payments, allowing your customers to pay you from their PayPal account by clicking an Express Checkout button on your checkout page. The pricing is identical to that for Website Payments Standard.

• Online Invoicing

Online invoicing allows your email invoices to be paid immediately with a click. Payers do not need to have a PayPal account, and they can use credit card and bank payments securely. Online invoicing can be used for your customers or for those to whom you render services. Rates are the same as for Express Checkout and Website Payments Standard.

Merchant W.H.

Charge.com

MerchantExpress