In this article, we’ll show you how to set up a PayPal account for your business. In addition, we examine the advantages of a PayPal business account, PayPal fees, and the differences between a PayPal business account and a personal account. We discuss PayPal alternatives, namely Payoneer, in the latter section.
PayPal is one of the most widely used, quick, and simple online payment services in the world. It accepts and handles credit card, debit card, and other types of payments in more than 25 currencies in more than 200 countries. PayPal is the finest and cheapest payment option if you want to build an online store or any other ecommerce store.
PayPal accounts are divided into three categories: personal, premier, and business. Individuals who purchase and pay online using PayPal should open a personal account. Business accounts are best for merchants that operate under a corporate or group name, although they may also be used for small and medium-sized businesses.
The best aspect of a PayPal business account is that there is no monthly maintenance cost and customer accounts may accept all of PayPal’s payment options. You can access more eBay features, merchant services, and multi-user access with a business account that you can’t get with a personal account.
It adds clever Payment Buttons to your e-commerce site, allowing consumers to buy your goods and services with a single click, eliminating a time-consuming order procedure.
I’ll walk you through the entire process of implementing a smart payment button to your WooCommerce store in my upcoming video and blog. If you’re interested, be sure to follow the channel and visit the website.
PayPal fees vary; you can see what they are here. In comparison to other sites, these are usually minor costs.
How to Create PayPal Business Account
You can have many PayPal accounts if you wish, but each account must have its own email address. Let’s look at how to set up a PayPal account for a business.
- To get started, go to paypal.com and select “Sign Up Now.”
- The next step is to select a business account as your account type. Remember that creating a PayPal business account is free, and there are no monthly fees.
- They want to know a little bit about you, your business, and why you want to join PayPal. Simply relax and choose the most relevant response from the drop-down selection.
- You’ll be prompted to enter your email address on this screen. Click “Continue” after entering the email address.
- Create a strong password for your account.
- You’ll be asked to fill out some information about yourself and your company here. Your first name, surname name, and business name must all be entered. Remember that because you don’t have a registered business name, you may name your company whatever you like. Then provide your phone number and address, or your details if you don’t have a business address or phone number.
- You can choose the account’s principal currency at the bottom.
- On this page, you will be asked to explain your sort of company and to choose your favorite. After that, type in a term that best represents your company. You can enter your business website here if you have one.
- Following that, you’ll be asked to submit some personal information, such as your date of birth, nationality, and the number of your identity card, as well as your home address.
- Your PayPal business account has now been created and is ready to use. Please check your email for a confirmation email and confirm your account identification.
PayPal Alternatives: Payoneer
Payoneer is a payment service provider that allows you to send and receive money over the internet using a bank account. More than 4 million clients in more than 200 countries use the platform at this time.