I’ve set up a number of clients to use Paypal to sell their product(s) online. To see an example, see Cowboy Church TV.
In this post, let’s go over how to set up a paypal account.
Before we get started, let’s discuss why I recommend Paypal:
- easy to use
- quick integration with website
- no monthly charges (for most accounts)
- does not require online merchant account
- handles all processing fees
If you are just starting out online or our monthly sales will be minimal, Paypal is a great way to go to avoid initial setup fees and monthly fees associated with online credit card and payment processing. Once your online sales exceed a certain threshold, then you may want to explore other options. But, Paypal is a great option for starting out.
Requirements for paypal account:
- email address
- bank account info for your business (routing number and account number)
Go to paypal.com and choose signup.
Select a business account and select the Standard Option. The Standard option
- accepts credit cards and payments through paypal
- has no monthly charges
- allows you to send invoices, if desired
Fill out the form with the appropriate information.
After completing the signup process, Paypal will test the payment process by making two deposits of one or two pennies to make sure Paypal is able to communicate with your bank account.
If you are a non-profit organization, further paperwork will need to be sent to paypal to verify your non-profit status. A non-profit status gives you a break in the processing fees.
Paypal deducts a percentage from each transaction. The percentage is around 3-3.5% per transaction.
If you have more questions on how Paypal works preview this video.