Friday, April 22, 2005
PayPal: the Grand Daddy of Online Sales Transactions
By Merle http://MCProtionsPress.com
I love PayPal. They've been doing business online
almost as long as I have, and they're constantly
improving and adding new features to their service.
According to their website ( http://PayPal.com ),
they have over 56 million accounts and more than
53,000 people who sign up for new access every day.
They deal in transactions totaling over $48 million
per day.
PayPal makes it easy for anyone to take payments
over the Net with no need for a merchant account.
What that means to you is lower fees and a level
playing field. If you've been hesitant to start
your online business because you thought you
couldn't afford your own merchant account, PayPal
is all you really need.
There are three types of accounts:
Personal: For your personal shopping use.
You cannot accept debit or credit card payments,
but sending and receiving money is free.
Premier: For buying and selling under your own
name. Send payments for free, with low fees for
accepting money.
Business: This is perfect for your online
business. Add your own name to be included
on your customer's credit card statements.
Sending money is free, but you are charged
small fees to accept payments.
There are no set up fees and the fee you pay
PayPal when accepting cash is based on your
sales volume for the month.
Standard Rate: $0 to $3,000 - pay 2.9% and .30
per transaction Merchant Rate: $3,000 to $10,000
- 2.5% and .30 per trans $100,000 and up - 1.9%
and .30 per trans.
To apply for the merchant rate, you'll have to
have one month of sales that meet the ranges
above and fill out a short application to get
approved.
Many of the options I'm going to point out to you
are for "business accounts" only, so you'll want
to go that route when registering or upgrade
your current account to that level.
Paypal has added so many new features over the
years, it's hard to keep up with just how powerful
it is. I'm amazed every day at the variety of
features that can make your life as an online
entrepreneur run as smooth as silk.
Let's take a look at some of these options:
1) Shopping Carts: If you sell multiple items
on your site, PayPal has a built in shopping
cart. Just copy and paste their buttons for
an instant store front. No third party software
needed.
2) Subscriptions/Recurring Payments: If you
sell a service that needs to be paid for monthly,
you can set up this type of payment option on
your site. This is great for trial periods and
membership sites.
3) Donations: Maybe you don't sell anything, but
you have a very informative site or newsletter.
A PayPal button suggesting your readers make a
donation is one way to help defray your costs.
4) Optional PayPal Accounts: One of the drawbacks
to using PayPal used to be your buyer had to
register for their own PayPal account. This
is no longer true and you can select in your
control panel to make it optional, not mandatory.
5) Customized Payment Pages: You can add your
website colors and logo to PayPal's payment pages.
You can create and save up to three different
page styles for a seamless check out process.
6) Logo Center: If you accept PayPal on your
site you'll want to add logos to your website
letting the world know. You'll find many shapes
and sizes to use.
7) Invoicing: Send your customers detailed
invoices via email. You can include detailed
line items, descriptions, tax and more. You
can save up to 10 customized invoices for
later billing purposes.
8) Payment Request Wizard: Did you know you
can add payment buttons to your Outlook and
Outlook Express messages? This is a quick and
easy way to get paid faster.
9) PayPal Debit Card: If you have a PayPal account
you'll want to get a debit card to go with it so
you can easily access your funds at at any ATM.
The card has a Mastercard logo so you can go
shopping and the money will come out of your
PayPal balance. You can also use it to draw out
cash from your account up to $400.00 per day.
You'll also earn 1.5% cashback on your purchase.
10) Refunds: Anytime you receive a payment, you
can easily refund it by clicking a button up
to 60 days after the sale.
11) Mass Pay: Easily send payments to large groups
of people. This would be an easy way to pay
your affiliates if you run your own affiliate
program.
12) Packing Slips: If you sell hard goods you
can create packing slips for your shipments.
13) Shipping Calculator: Easily add shipping
costs for your "buy it now" buttons or your
PayPal shopping cart items.
14) Seller Protection Policy: If you meet their
guidelines you can protect yourself from liability
and PayPal will absorb the chargeback at no cost
to you. Covers up to $5,000 on any fraudulent
transaction and is for tangible goods only.
15) Auto Return: You set the url for your buyers
to come back to after they make their payments.
Great for setting up your download page for
what they purchased and makes for instant
delivery.
Since eBay also owns PayPal, they've also integrated
some pretty cool tools for eBay Sellers:
1) End of Auction Emails: When your auction ends,
wouldn't it be nice if you could send a customized
email with all of the details included automatically?
Now you can. This is great for putting nervous
buyers at ease when they are waiting to hear from
you.
2) Auction Logos: If you want to offer an option
in your eBay listings so buyers can pay you
directly you can manually add a PayPal logo to
do so.
3) Post Sale Manager: If you sell many items
on eBay it can be a full time job tracking
it all. With PayPal Post Sale Manager
you can easily manage invoices, shipments,
and feedback on everything you sell.
4) Shipping Center: USPS and UPS have teamed
up with PayPal to offer you integrated
service in one location. Calculate shipping
costs, print shipping labels, track shipments
and much more.
5) Buyer Financing: Add promotional financing
to your "big ticket" items so your eBay buyers
can more easily afford to purchase with monthly
payments.Buyers are approved within 30 seconds
and you get paid your full price immediately.
6) eBay Gift Certificates: Send eBay Gift
certificates to your friends and family so
they can buy anything on eBay as long as the
seller accepts PayPal.
As you can see, PayPal is all you need to run
your online business. If you thought all you
could do was accept or send payments, you're
missing out on the powerful features that
makes PayPal the perfect business partner for
any entrepreneur. And as partners go, that's
one thing you can both agree on.
==============================================
"Must Have Marketing Resources" Ebook by Merle
is loaded with VALUABLE online resources you need
to know about, when it comes to running your web
business. Get your copy now at ...
http://mcebook.mcpromotions.com
I love PayPal. They've been doing business online
almost as long as I have, and they're constantly
improving and adding new features to their service.
According to their website ( http://PayPal.com ),
they have over 56 million accounts and more than
53,000 people who sign up for new access every day.
They deal in transactions totaling over $48 million
per day.
PayPal makes it easy for anyone to take payments
over the Net with no need for a merchant account.
What that means to you is lower fees and a level
playing field. If you've been hesitant to start
your online business because you thought you
couldn't afford your own merchant account, PayPal
is all you really need.
There are three types of accounts:
Personal: For your personal shopping use.
You cannot accept debit or credit card payments,
but sending and receiving money is free.
Premier: For buying and selling under your own
name. Send payments for free, with low fees for
accepting money.
Business: This is perfect for your online
business. Add your own name to be included
on your customer's credit card statements.
Sending money is free, but you are charged
small fees to accept payments.
There are no set up fees and the fee you pay
PayPal when accepting cash is based on your
sales volume for the month.
Standard Rate: $0 to $3,000 - pay 2.9% and .30
per transaction Merchant Rate: $3,000 to $10,000
- 2.5% and .30 per trans $100,000 and up - 1.9%
and .30 per trans.
To apply for the merchant rate, you'll have to
have one month of sales that meet the ranges
above and fill out a short application to get
approved.
Many of the options I'm going to point out to you
are for "business accounts" only, so you'll want
to go that route when registering or upgrade
your current account to that level.
Paypal has added so many new features over the
years, it's hard to keep up with just how powerful
it is. I'm amazed every day at the variety of
features that can make your life as an online
entrepreneur run as smooth as silk.
Let's take a look at some of these options:
1) Shopping Carts: If you sell multiple items
on your site, PayPal has a built in shopping
cart. Just copy and paste their buttons for
an instant store front. No third party software
needed.
2) Subscriptions/Recurring Payments: If you
sell a service that needs to be paid for monthly,
you can set up this type of payment option on
your site. This is great for trial periods and
membership sites.
3) Donations: Maybe you don't sell anything, but
you have a very informative site or newsletter.
A PayPal button suggesting your readers make a
donation is one way to help defray your costs.
4) Optional PayPal Accounts: One of the drawbacks
to using PayPal used to be your buyer had to
register for their own PayPal account. This
is no longer true and you can select in your
control panel to make it optional, not mandatory.
5) Customized Payment Pages: You can add your
website colors and logo to PayPal's payment pages.
You can create and save up to three different
page styles for a seamless check out process.
6) Logo Center: If you accept PayPal on your
site you'll want to add logos to your website
letting the world know. You'll find many shapes
and sizes to use.
7) Invoicing: Send your customers detailed
invoices via email. You can include detailed
line items, descriptions, tax and more. You
can save up to 10 customized invoices for
later billing purposes.
8) Payment Request Wizard: Did you know you
can add payment buttons to your Outlook and
Outlook Express messages? This is a quick and
easy way to get paid faster.
9) PayPal Debit Card: If you have a PayPal account
you'll want to get a debit card to go with it so
you can easily access your funds at at any ATM.
The card has a Mastercard logo so you can go
shopping and the money will come out of your
PayPal balance. You can also use it to draw out
cash from your account up to $400.00 per day.
You'll also earn 1.5% cashback on your purchase.
10) Refunds: Anytime you receive a payment, you
can easily refund it by clicking a button up
to 60 days after the sale.
11) Mass Pay: Easily send payments to large groups
of people. This would be an easy way to pay
your affiliates if you run your own affiliate
program.
12) Packing Slips: If you sell hard goods you
can create packing slips for your shipments.
13) Shipping Calculator: Easily add shipping
costs for your "buy it now" buttons or your
PayPal shopping cart items.
14) Seller Protection Policy: If you meet their
guidelines you can protect yourself from liability
and PayPal will absorb the chargeback at no cost
to you. Covers up to $5,000 on any fraudulent
transaction and is for tangible goods only.
15) Auto Return: You set the url for your buyers
to come back to after they make their payments.
Great for setting up your download page for
what they purchased and makes for instant
delivery.
Since eBay also owns PayPal, they've also integrated
some pretty cool tools for eBay Sellers:
1) End of Auction Emails: When your auction ends,
wouldn't it be nice if you could send a customized
email with all of the details included automatically?
Now you can. This is great for putting nervous
buyers at ease when they are waiting to hear from
you.
2) Auction Logos: If you want to offer an option
in your eBay listings so buyers can pay you
directly you can manually add a PayPal logo to
do so.
3) Post Sale Manager: If you sell many items
on eBay it can be a full time job tracking
it all. With PayPal Post Sale Manager
you can easily manage invoices, shipments,
and feedback on everything you sell.
4) Shipping Center: USPS and UPS have teamed
up with PayPal to offer you integrated
service in one location. Calculate shipping
costs, print shipping labels, track shipments
and much more.
5) Buyer Financing: Add promotional financing
to your "big ticket" items so your eBay buyers
can more easily afford to purchase with monthly
payments.Buyers are approved within 30 seconds
and you get paid your full price immediately.
6) eBay Gift Certificates: Send eBay Gift
certificates to your friends and family so
they can buy anything on eBay as long as the
seller accepts PayPal.
As you can see, PayPal is all you need to run
your online business. If you thought all you
could do was accept or send payments, you're
missing out on the powerful features that
makes PayPal the perfect business partner for
any entrepreneur. And as partners go, that's
one thing you can both agree on.
==============================================
"Must Have Marketing Resources" Ebook by Merle
is loaded with VALUABLE online resources you need
to know about, when it comes to running your web
business. Get your copy now at ...
http://mcebook.mcpromotions.com
