The Benefits Of Using PayPal >>>
PayPal has been around for many years and plays a very important role in the success of small and medium-sized eCommerce businesses, so let’s highlight the benefits of using PayPal for your online business.
You will find that most websites use PayPal these days to buy and sell. There is no bigger name than PayPal when it comes to payment processing online. There are several reasons why this is the case, which makes PayPal easy and secure for everyone. People who have never used PayPal may wonder why so many people use this service as their only way to buy and receive money for online purchases.
In this post, I’ll describe the full benefits of using PayPal.
1. Credit card security
When you sign up for a PayPal account, you enter your credit card and bank account details that you wish to use when purchasing through PayPal. Once you have done that, you will never have to provide your credit card information online again. By paying with PayPal, you are keeping your credit card information safe and secure, which means that you can make purchases online to a merchant without ever having to worry about hackers stealing your financial details.
You can get rid of the embarrassment and hassle of trying to buy goods and services online and getting your credit card rejected. Because you can configure multiple bank accounts, debit cards, and credit cards to fund your PayPal account, you can be sure that your PayPal purchase is always successful.
3. Mobile Use
PayPal is very easy to use because users don’t have to go online to use the system, and the iPhone application simplifies both online money and store transfers. The app is 100% safe because it will ask the user to enter their unique PIN.
4. Enables Worldwide Transfers
Whether you need to send money to a family member or a person in another country, PayPal users can instantly transfer money to them with a single click. Save time and money on expensive Western Union style transfers and send it faster than ever before.
One of the best reasons to use PayPal is the cost of their services. There are no annual membership fees, no processing fees, and no service charges for making payments. Vendors who use PayPal enjoy all the exciting benefits associated with the service and pay very little to receive payments. It is also free to withdraw money to your bank account.
PayPal sponsors special discounts for those users who shop through PayPal at select retailers. Consumers who go to shopping.paypal.com can find all the latest special offers from selected brands. PayPal can save you money on the things that you need. To take advantage of the savings, copy the promo code from the PayPal Shopping webpage and paste it into your order on your merchant’s site when you pay with PayPal.
7. Fees and Freezes
When managing your money in PayPal, there are two main things to be aware of: one is the fees associated with using PayPal, and the other is that PayPal can freeze your account at any time for almost any reason. A PayPal Standard fee is 2.9% for each transaction, plus 0.30$. Some other payment processors offer a monthly fee instead of a transaction fee, which is not great really.
Account freezing is a bit of a concern because if your account is frozen, then whatever money was in your account, will no longer be accessible. PayPal may investigate an account if it feels it may be involved in illegal activity. They also clarify that there are no indications of how long an account will be frozen. However, some users have said that their accounts are reactivated within just a few hours, whilst others have said it can take months.
8. Global Use
A key factor in making PayPal stand out against some of its competitors online is that it can be used nearly all over the world. It’s currently available in more than 200 countries/territories and supporting up to 25 different currencies. Users are able to withdraw money in 56 different currencies and balance in 25 currencies. In a world that’s absolutely dominated by the Internet, this is especially important because more and more businesses are offering their goods and services around the world, and not just in their home countries.
PayPal is a faster and more secure option to pay online. It helps you to make payment for products or services in millions of online stores in the United States and 203 global markets. All without the issues of having to change currency. It’s easy to know exactly how much you are spending and how much you can afford. It’s free to sign up for a PayPal account and download the PayPal app to receive and send money to other PayPal users around the world.
To sum it up, PayPal is a really great service and has been a well-known brand for many years. The e-commerce world 100% trusts them, and the “one-touch” checkout now enables merchants to increase their conversions dramatically.
In addition to a one-time purchase, PayPal is the fastest, easiest way to make recurring payments on all your monthly bills and subscriptions.
Also, PayPal has recently introduced PayPal credit, which if you are accepted for, gives you extra time to pay for purchases over a certain amount.
Update – On the same day as I wrote this, PayPal have now changed quite a few of their policies and terms and conditions, that will come into effect on the 16th December 2020.
I will add those changes to this post before that date.