You are probably wondering how a PayPal business can work for you. The reason is simple: they do the transaction processing for you. Unlike a traditional bank, PayPal doesn’t have to pay for its services or maintain its regulations. They hold large amounts of your money and make millions of financial transactions each year. PayPal also offers credit cards and a mobile payment app. If you have a PayPal account, you can accept payments from the world over.
Besides credit cards and debit cards, you can also accept payment through Venmo and PayPal Credit. Customers don’t need a PayPal account to make purchases. Your customers can buy things online, in-person, or through invoicing, and you can accept these types of payments for free. Another benefit of a PayPal business account is its international expansion. PayPal works in over 200 countries and 25 currencies.
If you don’t have enough cash for a full-fledged PayPal business, you may want to look into a working capital loan from PayPal. Working capital loans can range from $1,000 to $125,000 and are based on your history of regular PayPal sales. If you’re ready to purchase stuff, you can apply for this loan, which does not require monthly payments. The payback comes from a percentage of your PayPal sales.
In case you’re not ready to accept credit cards in your business, consider using a merchant account with PayPal. The service has a long list of advantages, including no monthly fees, cancellation fees, and no minimum processing requirements. If you’re planning on storing or selling products, PayPal’s payment processing has the potential to become a huge success for your business.