Business Articles
PayPal for your Internet Business
If you have an internet business you need to have some way of receiving payments that suits your needs perfectly. One of the best ways to do this is to start using PayPal.
You have probably heard of PayPal already - it is one of those websites most of us know about, even if we don't actually have an account. But if you are going to start making money online in an internet business, you should definitely find out more about it, because it is one of the prime ways that many small business owners receive payment for their products and services.
The best thing about PayPal is its simplicity. Let's say you have decided to start writing for various clients online. If you have PayPal as your method of getting paid, you can ask the client to submit 50% of your total fee via PayPal before you begin. Once you receive the money you can deposit it into your bank account and begin work. All you have to do is give them the email address associated with your PayPal account and they can transfer the money to you there and then.
You can even issue invoices directly through PayPal if you wish. Some people like doing it this way; others create an invoice in Word or Excel and add the email address to which funds should be paid to the bottom of it. Both ways work the same essentially - the money is paid into the PayPal account associated with the email address you give them.
Another bonus with PayPal is the ability to receive funds in more than one currency. For example many people online work in US dollars. Even if you live in the UK you may decide to charge people in US dollars. All you have to do is convert the money once it arrives in your account and you can then transfer it over as normal.
Of course there are charges involved with using the account, so it pays to be aware of these before you sign up for one. The good news is that you aren't charged for withdrawing money, so this is one distinct benefit to bear in mind. When you receive a payment from someone else however, you will be charged for receiving that money. This amounts to a 20p flat fee per transaction, plus a percentage of the total amount you receive. This percentage depends on how much you receive each month in total, so if you end up bringing in £1,500 a month or more, you can apply to get a lower percentage rate.
Many sellers and home workers have PayPal accounts that enable them to receive payments for the work that they do. Most sites offering work or payment for work do use PayPal so it is one of the easiest and most versatile sites you can have in this sense.
With a website payments standard account, people can shop on your internet website and pay you money either using their own PayPal account or any credit card. The good thing about creating a website payments standard account is that it is free! You only get charged a small percentage. It will cost you 20p per transaction plus 3.4% of the amount transacted, anytime somebody pays you online.
If you think it could work for you and your internet business, go to PayPal's website now and read up more about it. You might find it is just what your online business needs.
N. R. Daud
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