Monday, February 17th, 2020
PayPal is a great payment option to start with, and there’s no question you should keep it around as a backup form of payment if you sell online. Account setup is fast, it’s easy to use, and it’s widely accepted. If you’re a brand new business and you need to accept payments quickly, PayPal is the way to go. The mobile integration, PayPal Here, is seamless, which is useful for retailers and vendors who want to accept payments on the go, and there are plenty of POS options if you need something more advanced.
As your business grows, and you exceed $10K per month in revenue, it may be more worthwhile to pursue a traditional merchant account, because the processing costs will be lower. But you should make sure that the merchant account provides everything you need — or that if you have to pay for additional services that they don’t exceed the costs of using PayPal.
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