Why Should You Use PayPal for your Online Transactions?

For Ebay, PayPal will cover all or most transactions when receiving money, and definitely for buying. PayPal will safely encrypt your transaction, while offering the safety of the PayPal Protection program. This will cover you in case of any loss or scam up to a certain dollar amount, while shrouding your credit card and bank account numbers from any online thieves.

The fact of the matter is, you really should be using PayPal to shop online. It’s safe, easy, and most buyers have really come to expect it. There are many advantages to using this online checkout, and very few disadvantages. Here, we’ll go over some of the reasons you should be using PayPal, and a few reasons why you may not want to.paypal logo

Reasons to Use PayPal

PayPal couldn’t be easier to use. It just involves you logging into your account and providing the payment method. Opting to use a credit card will also help add an additional layer of protection in case things go awry.

  1. PayPal will encrypt your payment, so others can’t see what you’re doing and steal your information.
  2. The PayPal Protection Policy will allow you to have some extra security on your payment in case the seller doesn’t send the item, or if it gets lost.
  3. You can easily receive payments from businesses, or from someone you know.
  4. It’s an easy way to add a checkout feature to your website. It can be set up in minutes.
  5. Payments are instant, so you no longer have to wait for the check.
  6. The rate of commission PayPal charges is relatively reasonable, around 3%.
  7. No more dealing with cashing checks, or waiting for them to clear.
  8. Your banking information will remain private. No more checking account numbers floating around.
  9. You’re more likely to receive business if you accept PayPal. Online shoppers feel more secure and trust the PayPal symbol. Having it will surely increase your sales.
  10. PayPal will help resolve any claims or disputes that buyers have against you, in the odd occassion that it happens. Keep all of your receipts for delivery confirmation when shipping an item and require insurance for the buyer and you will be okay.
  11. It’s greener than paper. Less paper waste and delivery time means less paper consumed.
  12. It’s free. Setting up a PayPal account costs no money.

Reasons Why You Shouldn’t Use PayPal

For the most part, PayPal is great. It’s protecting your identity, and concealing your information. How could you not like that? Like anything in the world, you could point out a few cons:

  • As a merchant, you’ll be charged when you accept payment from PayPal. Actually, anyone receiving cash will be charged a fee. This is small, and comparable to what credit card companies charge merchants, so there’s not too much difference here.
  • PayPal could get hacked into. It hasn’t happened very often, but it could happen.
  • Someone could use your credit cards and accounts if they somehow logged into your account. The good news is that it’s still protected by PayPal if they do.

Tips on Using PayPal

It’s basic for the most part to use PayPal, but there are some things to consider when using it. They do require a bank account to set up an account. I would recommend using a savings account instead of a checking, so the account will not receive “insufficient funds” fees if the account has been drained. I would also recommend always changing the funding to a credit card if possible. PayPal will try to do everything to convince you to use cash, but it’s in your own best interests to use a credit card. Not only will you have extra protection of your own card, but you won’t have to worry about keeping track of how much money is in your bank account. Always change the funding source before payment to your credit card (if this is the payment method you prefer).

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