A merchant account is a bank account that works as the intermediate between the customer bank and merchant bank. It accepts money from customers' banks and then deposits it to the merchant’s bank account after deducting some transaction fee according to plans taken by merchants. PayPal merchant accounts work the same but the difference is PayPal has been in this business for a long term and is now considered as the godfather of merchant account providers.
One more benefit of PayPal is that you can accept payments in several ways and in different currencies. PayPal’s global reach is over 200 countries and this reach is increasing day by day. This firm operates on a global scale, and they find out that small-scale industries are facing problems in accepting debit and credit card payments. To help entrepreneurs in accepting payments from customers this firm creates PayPal Merchant Services.
Some important things which you should know about PayPal Merchant Account
Connection
This platform doesn’t make any restrictions on the number of connections you make.
This also helps in the advertisement and growth of the business.
PayPal gives you access to new channels, new markets, and new customers.
Size
This platform is usable by every size of business.
From big companies like amazon to roadside shops, every type of business can use this service.
PayPal also helps in managing the income of the business.
Freedom
Every PayPal account has its withdrawal limits, but merchants have the option to increase this limit or to remove this limit.
This can happen by providing a credit card or a social security number to your PayPal account.
PayPal is a fully trusted platform to keep your information secure.
Account Specialist
PayPal allows merchants to chat with specialists in case of any problem.
These specialists help in setting up your startup accounts.
Benefits of PayPal Merchant Account
Full Access to Business Features: With a PayPal business account you will gain full access to features such as a virtual terminal, hosted checkout page, invoicing, and recurring billing.
Free of Cost: No need to pay a setup fee and monthly charges for a PayPal merchant account.
Employees can also use your account: When you sign up with a business account then you have the advantage of letting up to 200 employees use your account.
Sell Online or In-Store: Take payments online and offline by using PayPal for business. Accepts payments in several methods such as debit card, credit card, PayPal Credit, and other mobile payment apps.