Considering the present situation where people are giving more preference to online shopping, the popularity of e-commerce websites is increasing day by day. People are giving more importance to online transaction after the arrival of COVID-19. However, the merchant cannot receive payment online without a payment provider. Well, this is where PayPal comes to our mind.
Yes, PayPal is one of the best online payment gateway service providers. The popularity of this platform is growing rapidly because of its simple user interface and flexible features. Well, if you are into online business and want a payment integration for your website, you will get to know that there are various payment service providers available in the market. But, among them, it has the capability to give you fruitful outcomes.
What PayPal Does?
PayPal is an online payment solution through which merchants can receive as well as make payments online. It is a very well-known platform. The Company claims that it has more than 265 million active customers and along with it, it has more than 21 million merchants. If we talk about the present situation, almost everyone has an account on this platform. The name is very popular in the sphere of the e-commerce industry.
Who Uses PayPal?
It is a very well-known platform and users belonging to different professions use this. We have highlighted some fields below:
- Brick-and-mortar shops
- Online marketplaces
- E-commerce companies
- Entrepreneurs
- Freelancers
- Various agencies that operate online
- Non-profit organizations
Rates of PayPal
| Service | PayPal |
| Fee per transaction | 2.9% + 30 cent |
| Non-profit discount | 2.2% + 30 cent |
| Setup Costs or Monthly Fees | No |
| Micropayments | 5%+ .05 cent |
| Contract Required | No |
| Chargeback Fee Refunds | No Fees Returned |
| Customer Support | Phone and Chat, Email and Help Centre |
| Chargeback Fee | $20 |
| PCI Compliance | Yes |
| Ease of Setup | Easy |
| Ease of Use | Easy |
| Countries Available | 200+ |
| Data Portability | No |
| Access To Fund Times | Immediate |
| Online Invoicing | Free |
| Payments Handled 100% ON Your Site | No |
| In-person card readers | Free Paid |
| Popularity | High |
Various Service Plans For PayPal
There are mainly there service plans that it offers. We have highlighted each of them below:
- Checkout: If you already have a payment processor and want to add PayPal as an alternative, you can go with this service plan.
- Payments Standard: If your business does not have any payment processor, you can choose PayPal as your primary payment processor. With this service plan, you can have your own payment button.
- Payments Pro: With this service plan, you will have your hosted checkout page, virtual terminal and standard PayPal features.
So, we have highlighted everything regarding PayPal. In case you want to go for any other payment solution Stripe can be a very good option too. We hope that this article would be helpful for you.