E-commerce is evolving day day, and people are using various payment methods to buy goods and services online. Find interesting facts about PayPal in the infographic below compiled experts from Play-N-Pay.


If you have decided to start receiving and sending money through PayPal and you don’t have an idea which type of PayPal account you need to choose, this article will be of great help.

Both PayPal Business and PayPal Personal allow you to send and receive money. It is essential whether you want to buy clothes or electronics online, or you are a business who wants to charge clients online.

PAYPAL PERSONAL

Who should use?
PayPal Personal is recommended for users who shop online, who wish to send or receive money with no business intentions or receiving money as a freelancer. Registration is free, and there is no subscription fee.

What fees will you pay?
When buying online or in-store, PayPal will not charge you a fee.

When you receive money in exchange for your product or service (the same as you get paid from your client) you pay 2.9% in the USA and 4.4% in other countries plus a fixed fee based on the currency.

To set up your personal PayPal account, you will need an email, your phone number and home address, and a bank account.

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PAYPAL BUSINESS

Who should use?
PayPal Business is for merchants with a company name, that sells products or services online. PayPal Business account allows you to add 200 employees to your PayPal account with limited features and access.

What fees will you pay?
When your customers are paying online to your business with their PayPal account, you pay 2.9% of the paid amount in the USA and $4.4 in other countries plus a fixed fee based on the currency. PayPal claims that businesses who sell through PayPal are getting 44% higher checkout conversions.

To set up a PayPal Business account, you will need a valid email, your company’s legal name, address and phone number and a bank account linked to your company. The verification process takes 3-5 days.

CHECK: How to Convert airtime to cash directly to your Bank account

To further aid your knowledge on PayPal, a team have complied and infographic about PayPal and its success stories. You can find the link to that post clicking  Here.

Guest Post By: Karthik Reddy
He is a Travel blogger & Writer at Play-N-Pay.

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