Credit Card Processing via PayPal

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southsoundtree

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Just thought business owners would be interested to know that its easy to accept payment through PayPal whether or not customers have a PayPal account. No terminals, software to keep current, etc., and relatively affordable

Business owners just set up their PayPal account for free.
This is supposed to work easily with Quickbooks, or without, though I couldn't get it to load the PayPal Wizard properly into my Quickbooks Pro 2007. Probably a fluke, dunno.


From the Business page on PayPal, you email an invoice that you can create (you can save templates as welav

When they receive the invoice, they pay via their PayPal account if they have one associated with that email account (its mandatory if they have a PayPal account associated, but fast and easy if they want to set up another email account not associated with PayPal). If they don't have a PayPal account associated with the email account to which you are sending the invoice, there is an option to use their credit card via a link.

They enter the numbers, etc. Its sent to PayPal. You don't have any access to their CC information. It gets put into your PayPal account. You can use the money out of the account to pay for things, or request it to be sent to your checking account (3-5 days I think).

PayPal charges the business a 3% processing fee. Does this come out of your profits, yes in most states where it is not legal to pass the charge onto the customer.

Credit card processors (in their marketing to businesses) will tell you that accepting CCs will increase what people will spend. "Oh, since you're going to be here working, why don't you also prune that tree/ take that tree down, too. I'll just pay it off over time to my CC."

Especially for emergency work, with the storm season coming for a lot of us, it could land jobs that would otherwise otherwise go to a competitor that accepts CC. As well, people might be more inclined to go with the service that allows them to rack up more airline miles.


I'm expecting my first payment to come in a day or two.

Just thought people would want to know.
 
Thanks Southsound...I have thought about setting this up, but have not.

When I looked into it about a year ago, Google Checkout was a little cheaper (for the business), but it is probably less known by clients and may not integrate with Quickbooks as well... I am interested to hear how it has worked out for others. I don't know why it wouldn't. Unless you are taking several thousand a month, I really think these online services are the best option. CC servicing companies generally have a monthly fee in addition to the % charge.
 
I haven't used it but I think you would need to have a checkout section on your website. I guess you could add a page with "products" with the charges for each client. If the website was built correctly, it would be very easy to do...but one more step in the process. I am not sure it is worth 1% savings..but I don't know.
 
Another really nice option with paypal is the fact that they have a debit card that will connect to your paypal account. I have been using it for a while now to do just this.
 
None so far that I have seen. You are basically using your paypal card just like your bank debit card.
 
HOW DOES GOOGLE CHECKOUT WORK?

south i have google checkout set up i kind of like it really cheaper rates than paypal and also you can send invoices thru google checkout to peoples email such as paypal and the payment process takes less than 2 business days for it to appear in your acct when someone checks out on a site and goes pays thru google checkout it takes the consumer to googles website and that is where they pay for the order at i only used it twice and the rate charges are cheaper than paypal

and also if you have a google adwords acct it can be linked into googlecheckout and can actually be a free checkout acct for you
 
None so far that I have seen. You are basically using your paypal card just like your bank debit card.

the good thing about the debit card is if you set up dividends you get paid a percentage of what you use off the card say $ 20.00 purchase using the card you would get $ 0.20 cents back and so on but the downfall to that is it has to be reported on tax form scedule c
 
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Please just be careful when using Paypal for big jobs. They can and will cave in to the credit card companies and pull the money out of your Paypal account if there is any dispute. I'm not the fear mongering, hateful of Paypal type of person, just saying be careful with them. Also, when I checked them out, I have a Business account with them, it was a lot cheaper for me to use ProPay and pay a small monthly fee. If you don't have a business account with Paypal, the fees are small, but they will make you become a business member if they see a lot of money changing hands and then the fees start to increase.
 
Please just be careful when using Paypal for big jobs. They can and will cave in to the credit card companies and pull the money out of your Paypal account if there is any dispute. I'm not the fear mongering, hateful of Paypal type of person, just saying be careful with them. Also, when I checked them out, I have a Business account with them, it was a lot cheaper for me to use ProPay and pay a small monthly fee. If you don't have a business account with Paypal, the fees are small, but they will make you become a business member if they see a lot of money changing hands and then the fees start to increase.

dewayne how much did propay cost ?
 
Lawnmowertech37: They have plans that start at 34.95/year up to 299.95/year. I just remember when I thought about processing cards through Paypal it was much more expensive than propay. Their fees are as low as 2.69% and $.25/ transaction. A lot less than Paypal when i calculated it out based on a $100 purchase.
 

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