7 Interesting Reasons Why You Should Use PayPal for Your Online Store

If you’re here, you must be aware that PayPal is one of the leading means of online payments. It is designed to serve businesses and individuals alike. Moreover, the entire PayPal system is jampacked with features. 

So, should you use it as a payment system for your online store? In this post, we will focus on different reasons why it can be beneficial for you. 

7 Benefits of Using PayPal for Business Payments

PayPal has innovated how our online transactions work. Before PayPal, you had to conduct such matters through debit or credit cards. 

However, this entire process was quite tedious and included a lot of steps. PayPal simplified this process and became successful in a very short span of time. 

You can check our detailed PayPal review here. 

Let’s check why PayPal is such a trusted and useful system for online businesses.

1. Funds Protection

Any transaction that is conducted, digital or physical, has a bank account associated with it. This means that your funds are always at risk if the information gets in the wrong hands. 

Even a widely used payment system like a credit card is prone to such mishaps. PayPal completely eliminated this problem with the help of its in-house security system.

How does PayPal’s security system work?

To describe it in Laymen’s terms, PayPal uses a widespread network that masks your original account information. It is known as encryption. 

Let’s take an example. Suppose you have PayPal integrated with your online store. 

Whenever someone buys a product. The only piece of information you receive is their email and that’s about it. 

How does that help me?

Since your own PayPal account works on basis of an email, any potential hacker or malware cannot access this confidential information. 

Whereas, if you use a credit card system, all your account information is stored in the backend. So, in an unlikely case of a cyber-attack, your account information is at risk. 

2. Fast-Track Payments

PayPal’s system excels at confirming and relaying funds from one account to the other. Any purchase conducted between your online store and the customers is done almost instantly. 

This is mainly because PayPal does not have any third parties associated with it. It acts as an online ledger that helps in fast-track payments.

How is PayPal different from credit cards?

Contrary to popular belief, credit cards aren’t owned by banks. They are operated by standalone companies that act in conjunction with their respective banks. 

So, when a payment is conducted through a credit card, it has to go through numerous filters. 

Whereas, in the case of PayPal, it’s a 1-on-1 transaction system. The only filter that exists is PayPal’s own verification system. 

3. No Hidden Fees

One of the biggest advantages of using PayPal is that it has no backend fees. PayPal only charges a service fee per transaction. 

This fee is clearly attached to every payment receipt for transparency. On the other hand, you have to pay at least 3 different kinds of fees while using a credit card system. 

Does it have any other service charges?

PayPal also charges a fee for converting your currency. It helps you and your customers to keep the entire process streamlined.

Other than that, PayPal has no service charges. This is what makes PayPal trustworthy for online businesses and customers as well. 

How many currencies does PayPal work with?

PayPal provides currency conversion services for every country it operates in 200 countries. The majority of them have similar currencies. 

For example, if your store is based in Europe, you can simply use Euro as a payment currency for purchases regardless of the country. 

4. PayPal Discounts

PayPal itself offers various discounts to its users. It doesn’t matter what if you have a business or personal account. 

As a business account, you can avail of discounts in the form of reduced service charges and conversion fees. 

As a personal account, your customers can buy products from the online store at a cheaper rate. 

Does that discount affect my sale prices?

Not really. These discounts are provided by PayPal to its loyal users. You still get the full amount from every purchase.

Moreover, the reduction of service charges can help your profits immensely in the long run.

5. Multiple Accounts

PayPal enables you to link more than a single bank account to your account. You can even use credit and debit card numbers for your payment account. 

It helps the customers to easily conduct payments and buy products for your store. The accessibility factor contributes to your brand development. 

What are some other benefits of using multiple accounts?

An online store with a vast number of products of different categories can get tricky to keep track of. Multiple accounts help you link product categories to certain accounts. 

This way, you can easily determine the number of sales generated by a category. It helps in the general finance of your online store. 

If you have a single account, it can get messy in terms of resource allocation. 

6. Mobile App and Plugins

PayPal has its own mobile app that you can use to keep track of all the funds. It is quite elaborate and helps you move funds between your accounts with just a click. 

You don’t need to use their desktop site to access your account. 

Moreover, PayPal’s app is heavily guarded by a two-step verification system. Every time you open it, the app verifies it through an email and a text message. 

How does that help me?

It means that your thousands of dollars are always secured. Nobody besides you or your trusted business personnel can access the account. 

Furthermore, the app also notifies you through a push notification whenever a financial activity is conducted. 

What if I don’t want to use the PayPal app?

PayPal also has a highly developed web plugin that you can integrate with your online store. It works for standalone stores and third-party platforms as well. 

This plugin is just like the mobile app. It is convenient to use and has all the necessary tools at your disposal. 

7. Easy to Setup

Unlike other banking payment methods, PayPal is quite easy to integrate and set up. All you need is the mobile app or the web plugin. 

Within a few minutes, you can link your online store with PayPal and get your payment structure running form. 

Does PayPal have customer support?

PayPal has 24/7 customer service support that you can utilize in case of a technical issue. They are highly trained professionals that can solve your issues remotely. 

Wrapping Things Up…

This brings us to the end of our post on why you should use PayPal for your online store. We hope you can use this information to your advantage and streamline your payments.

PayPal is a useful tool to carry out online payments. It is fast and quite convenient to use. It has various solutions for your business-related problems.