Paypal

Description

Paypal is a multinational financial company that provides clients with an online payment operating system that can accept payment in many countries around the world. It acts as a substitute for paper payment methods like checks and money orders. Additionally, it facilitates online payment processing for users engaging in online auctions, e-commerce, and other commercial activities. Founded in 1998 as Confinity by Ken Howery, Max Levchin, Luke Nosek, Yu Pan, and Peter Thiel in Palo Alto, California, United States.

Accept Payments

Online Checkout:

Paypal online checkout provides clients with the way to process different types of credit and debit cards allowing them to accept payments for their customers. It accepts all types of payment methods allowing the customers to pay in the way they are most comfortable with increasing the customer conversion rate of clients. For customers in different countries paypal provides them with ways to make their payment process go without a hitch. Clients can allow customers to save their cards or other payment methods to help them pay faster allowing a fast checkout process for customers. Clients can integrate paypal in any major ecommerce platform or use paypal REST API and JavaScript SDK to code any type checkout solution for your site.

Installment Payments:

Paypal provides a financial service named Paylater allowing customers to pay for their product in installment. Clients can add paylater service to their checkout option which helps customers to buy products at credit and pay for products in installment to paylater financial service. Paylater provides clients with upfront payment and allows customers to pay with or without interest rate. It can increase the clients turnover as customers who cannot make one time full payment can also buy products at installment or credit.

Invoice:

Paypal provides invoicing services to their clients allowing them to send invoices for their services to their customers through email. Customers can pay these invoice by using paypal or any other payment method allowing full freedom for payment choice. Clients can access their dashboard through any device that supports internet services. It allows them to send invoice, track status, send reminders, etc. Clients can create and save customized templates with their company name and logo allowing them to create and send invoices very quickly.

POS System:

Point-of-sales system allows clients to process their payments through a POS terminal using its various tools. POS systems allow faster checkout by customers as they can pay in almost all types of payment methods. Allowing ease of payment for customers. Clients can use the PayPal POS system dashboard to allow them to manage inventory, set prices, and manage everything related to PayPal through the dashboard. It can help clients identify best selling products, manage staff  and monitor sales. Clients can use portable devices to manage their product through it, at the same time add categories, barcodes, photos, etc to your product catalog..

Financial Services

Business Debit Card:

Paypal has launched a paypal debit card allowing clients to pay directly from their paypal account. Paypal allows clients to have no  credit check  to get a business debit card, which can be managed from its dashboard. It is supported by 1% cash back allowing clients to earn rebate on debit card payment. Clients can get up to 4 cards from paypal allowing clients to give them to their manager and ask them to complete the payment, clients can track all the spending of cards through its paypal dashboard. Clients can also take out cash from ATMs and use business debit cards to pay recurring payments automatically.

Business Credit Card:

Paypal provides business credit cards to their paypal business account holders having accounts for more than one year with annual revenue of more than $5000,  business credit cards are not charged extra fee.  Paypal provides 3% cash back on all paypal merchants or receives 2% from outside. Clients can set up an employee card with a spending limit allowing them to run the payments for the business free up yourself. Paypal dashboard can be used to track transition, consolidate statements, and manage their account. 

Business operations

Risk management:

Paypal machine learning and intelligence helps clients by protecting their transition fraud which helps clients manage risk in the background. It provides seller protection services to clients allowing them to avoid chargebacks, reversals, and fees when facing customer disputes. Paypal provides constant monitoring for clients’ transactions at zero cost.

Reporting tools:

PayPal’s business account incorporates analytic tools enabling clients to tailor different types of reports. It can be made according to their preferences, such as transaction types and customer data. The platform offers diverse filters that clients can utilize to generate a wide array of reports. It provide them with an intricate comprehension of their business data. Clients can download or export their reports to where they need it from their business account directly.

Clients can track sales performance of various products to find which products are doing better and why. Can also find details that are impacting their sales performance which can help clients to increase their revenue and efficiency.

Pros:

1. It is very easy to start using paypal.
2. Simple user interface.

Cons:

1. It has a high fee cost as it charges by per transition which can lead to high cost sometimes.
2. Sometimes for customers they may hold payment if a large amount of money is transferred.

Suggestions:

It is a financial service provider that provides clients with ways to complete the processing of payment both online and offline. It also furnishes clients with a range of additional financial services they can avail. Like offering loans to clients in need and providing debit and credit card services.

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