Subscribe to usWho’s Your Buddy? PayPal
Published Date: 2007-01-31 08:23:20 WorkOnInternet.com


Read More on Selling on the WebWith all the buzz about Google Checkout, PayPal is still the king of payment processing, especially for small online merchants who rely on its full array of tools and services to boost sales.

For Web store owners without expertise in online selling or those who have less sophisticated sites, PayPal can fill the gaps and put them in a position to compete with larger retailers. “The greatest thing about PayPal is the way it processes credit card transactions,” according to Barak Haimoff, whose company UtopiaDiamonds.com got its start on eBay. Haimoff said that he can take credit card payments over the phone, through e-mail or through his site. He also particularly appreciates the fact that PayPal charges the same transaction fee regardless of what kind of credit card his customer uses. “That’s unheard of in the industry,” he said.

But if you still think of PayPal as a simple service for handling cash, you’re missing out. Here’s a quick roundup of the top tools and services for small online merchants:

1) Low Cost. PayPal has a tiered system for its transaction fees, based on a merchant’s monthly volume. The fees range from 1.9 to 2.9 percent, plus 30 cents per transaction. There are no additional monthly, start-up or cancellation fees.

2) Paper work. PayPal offers a number of reporting and management tools for small business, and is integrated with the leading accounting software tools from Intuit and Microsoft, as well as with the U.S. Postal Service and UPS.

3) Ship Shape. Figure out costs with the shipping calculator. You can also pay for shipping and insurance with your PayPal account, with no monthly fees. Track and confirm arrivals, create and print packing slips and void your shipping labels and get a refund for misprints canceled within 24 hours.

4) A Purchase Present. You can offer customized gift certificates through PayPal, which can help increase sales and attract new buyers to your site.

5) Getting Paid. PayPal lets you send professional line-item invoices to your customers.

6) Choices, choices. With PayPal your customers can pay you using credit card, bank accounts or cash from their own PayPal accounts.

7) World View. PayPal lets you handle payments from six currencies, including Yen and Euros. PayPal is available in 55 markets worldwide.

Source: Ecommerce-guide.com

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