I have heard about Paypal account but do not know anything about it. What is a paypal account? Some say that they take up some charges for transaction. Is it true? If so, how many dollars do they deduct for a 100 dollars payment. Kindly explain in detail. Practical experiences most welcome.
2007-01-04 19:34:47 · 5 answers · asked by puneet g 1 in Business & Finance ➔ Other - Business & Finance
Paypal is an online system that allows you to pay or receive money online without giving your information otu to strangers. It hink it is associated with eBay. They charge a fee of about $.35 plus a certain percent based on the amount you send. It is paid by the person receiving money. All you have to enter is your credit card or bank account information once.
2007-01-04 19:39:11 · answer #1 · answered by moonman 6 · 0⤊ 0⤋
Paypal allows you to accept payments by debit or credit card online in real-time (without having to open a merchant account, which would cost a few thousand dollars at least). Before paypal, online stores would have to already have a merchant account to be able to accept debit or credit card payments.
Sending payments is free. You are only charged to accept payments. For a $100 payment, you would be charged approximately $5.20 for a personal account, and approximately $3.00 for a business account (more transactions).
I use it to buy and sell on ebay and also in the past I had an online collectibles store that I accepted paypal at. It works great, and is very customizable.
2007-01-04 19:38:39 · answer #2 · answered by kikisdragon 3 · 0⤊ 0⤋
PayPal is an Internet business which allows the transfer of money between email users, avoiding traditional paper methods such as checks/cheques and money orders. PayPal also performs payment processing for e-commerce vendors, auction sites, and other corporate users, for which they charge a fee. Corporate headquarters are in San Jose, California.
2007-01-04 22:01:58 · answer #3 · answered by alexa dion 3 · 0⤊ 0⤋
PayPal is a great thing to offer when you want to accept credit cards from clients....or if you are Ebaying. They do take about 3% of each transaction from the recipient....of $3.00 for every $100.00.
I use PayPal when I am buying stuff off ebay (or infrequently selling), I also use it to accept payment for my home-based business. The fee is a pain.....but it is the easiest method I know to accept payment from people in other states. Checks and moneyorders require waiting for the postal service and waiting for them to clear your bank account.
In my opinion....it is a worthwhile service that is worth the fees!!!
2007-01-04 19:42:06 · answer #4 · answered by diapercakesbybecca 6 · 0⤊ 0⤋
perhaps. there are a lot of scam buyers out there. if you sold to somenone with a good feedback rating you should be OK. if you have been paid, you MUST ship the item or Ebay will whack you ( in a figurative sense.) . ebay and Paypal are greatly slanted towards buyers these days. it wasnt always so one-sided.
2016-05-23 05:17:09 · answer #5 · answered by Anonymous · 0⤊ 0⤋