PayPal Can Help Your Business
PayPal is a fast and effective way to earn international currency. Matthew Jones shared in his book Mobile Profits that according to a survey carried out in 2010, small to medium businesses who offered PayPal services on top of credit card facilities showed up to a 14% increase in sales.
Adding PayPal to your business can definately help your business to grow. Sofield, Nielsen and Burchell explained in their book, PayPal Hacks, that PayPal is seen to be the future platform which will help businesses both save time, and improve profits.
How can PayPal can be used to help your business?
5 Ways PayPal can help your business
1. PayPal is easy to set up
It is easy for a small business to set up a PayPal account. By registering the account, linking it to a bank account and then verifying the account, a merchant can be in business quickly.
As soon as the account is verified, a business is able to either attach a PayPal option to a website, or submit an invoice to request payment. PayPal offers a fast and effective way to set up a business and begin transacting.
There are no start up costs to set up PayPal, and customers are only charged after they receive money into the account.
2. PayPal is international
Caroline Bullock, for BBC News, reported that when trying to set up a business that reaches an international audience, many businesses found that they struggled.
Not all countries use international credit cards, and not all people own credit cards. PayPal enables companies to sell their goods internationally without the worry of how to accept payment.
For those who offer services such as consulting, design or writing. PayPal enables businesses to work in foreign countries. For accepting payments which can later be transferred to a local bank account.
With PayPal, merchants can accept payments from 203 countries.
3. PayPal is easy for customers
Pymnts explain that one of the biggest struggles online businesses have is getting a transaction from shopping card to close of sale.
They found that when customers take a longer time to finish or complete a sale, there is more time for buyers remorse or regret.
PayPal is quick and easy to use, with no need to add in card details, or even delivery details. This reduces time between point of sale and purchase.
4. PayPal is safe for customers
PayPal is a safe way to operate making payments on small websites or blogs. This is true for the following reasons:
- Although many customers understand that large companies have set up safe and secure facilities for making use of credit cards, customers are aware of the dangers of giving out banking details online. Submitting credit card details to a small entrepreneur, artist or blog might feel risky. However, PayPal eliminates this risk.
- PayPal also acts as a buffer between client and merchant, meaning that if a product doesn’t arrive as instructed, PayPal will investigate and offer a refund. This ensures that customers feel safe when supporting small businesses.
5. PayPal saves you time
One can sent invoices directly from your PayPal account. And all activity will saved in the account thus one can check. With rapid payments and PayPal taking care of admin, you are free to spend time marketing or growing your business.
With an easy set up process, the ability to attract international customers, an easy to use customer platform, safety features and the ability to invoice or record transactions.
PayPal enables you to set up an international business which is safe and secure for customers. Small and medium businesses are now free to expand into a globalized marketplace.