This a type of account is a must have service for anyone that is thinking about or already running an online business here is why…
A PayPal business account is a type of PayPal account that is specifically designed for businesses who want to accept payments online for the goods or services rendered.
Every Online Business Needs A PayPal Business Account
As an example of this we offered a service for creating backlinks to our clients sites which initially only started out with a handful of Australian clients from Melbourne, Adelaide, Gold Coast and Sydney. This was easy enough to handle, all we did each month was send an invoice to each client for our services and they would deposit the funds directly into our bank account.
Overtime however we started to get more international clients wanting to use our services from the UK as well as the USA so we now needed a payment solution to accept international currencies for our service so we needed to update our account to a PayPal Business Account.
Before I continue you need to know that a personal account which was what I initially had is not the same as a PayPal business account and the Premier account is another level where you can use your Business Name or Organizations Name rather than you name when sending out any invoices through Paypal.
First of all, a PayPal business account is a fantastic asset for any online business as it can make any small business much more competitive.
It can be considered that today, PayPal is the number one online payment method with 184 million accounts and and this payment method is accepted in 190 countries thus most online businesses need to integrate this payment gateway into their business to survive. The majority of people online whether consumers or vendors prefer PayPal as a method of payment because of its convenience and security, and these people are the target market of most online businesses.
While PayPal is somewhat monopolistic on the aspect of online payments, research has proven that small to medium sized businesses have improved their sales once integrating this payment service into their overall business plan and payment structure.
Accepting Multiple Currencies Allows Your Business To Grow
Another benefit of setting up a PayPal business account is that it will allow you to accept different currencies for your worldwide clients/customers. This is the perfect solution for those that have clients or offer services in different areas around the world. Using an account like this gives you a very convenient way to handle these transactions that involves different currencies.
Additionally, a PayPal business account lets you manage the currencies that you get, so that you may exchange it to your primary currency or create another balance for a particular currency.
Last but not the least, besides multiple currencies, a business account also supports varying local payment methods from many countries. This will offer your global clients more options when sending their payments.What this means to your business is if you are dealing with some one that also has this type of account then you can be sent funds in your countries currency.
The PayPal business account will simplify the process of online transactions, making it a much simpler process for your to accept money and grow your online business. It cost nothing to set up except your time and the functions and useability will lift your business to new heights.