Introduction :
Paypal, the well renowned online e-commerce holds the dominance worldwide in day to day transactions processed over the internet. It has got its own fraud screening system deployed to resist infiltration of possible fraudulent transactions.
The introduction of Internet has also brought along a revolution in the money transfer process. Ecommerce being the heart of Internet, has only been successful due to the payment gateways such as PayPal, Google Checkout, Moneybookers etc. It has enabled consumers with shopping products and services offered by various manufacturers, retailers and service providers. eUKHost too is no exception to this. PayPal being one of the widely preferred payment processing gateways, allows our customers with paying their fees for the availed hosting packages and domain names.
PayPal is a service that allows you to pay, send money, and accept payments without displaying financial information. You can use paypal for personal or business reasons. PayPal allows individuals and businesses to transfer the funds electronically. Paypal can securely store all your payment options, such as your bank account and credit card.
When you are making payment, you don't have to pull out your credit card or type your billing info every time. You only have to click on the PayPal checkout button, log in to your PayPal account >> select the payment method. Payment will complete without sharing any info with merchants and sellers. You can use it to pay for online auctions, purchase goods and services, or to make donations. You can even use it to send cash to someone with an e-mail address, whether or not they have a PayPal account.
So how exactly does it work ?
Q. How is the Customer Verified?
Ans. The client only needs to Add and Confirm a Bank Account. An amount is sent to the client account in the form of two deposits. Then s/he is expected to enter these deposits on the PayPal website. After with the account is verified via telephonic conversation which is handled by a third-party authentication service to check if the entered details are accurate and appropriate. Once this is done, your are all good to go with using PayPal.
Q. How is the Verification done via Credit Card ?
Ans. A user needs to update his/er information in PayPal, after which you'd be asked to pay for the two minor charges made to your credit card. Then the user is expected to visit PayPal's website and enter those charges along with the adjacent code as displayed in the credit card statement. The amount paid gets reimbursed and hence the verification is done successfully.
Users may opt for linking the PayPal account with the Credit Card, its built-in automated system verifies the address with the Credit Card company. If they aren't successful with it, users might sometimes be asked to complete their Expanded Use enrollment process for activating the credit card.
If you are a company, firm, enterprise etc. who deals in selling products and services wherein you expect people to pay for it, then such payments done via. every major credit/debit cards, bank transfers and PayPal balances are easily possible. While if you are a consumer who wishes to buy products/services, you have the leverage for choosing the mode of payment.
Q. How Subscription payment works?
Ans. With recurring payments, you can bill customers on a regular basis at intervals that you choose. Customers can setup PayPal Subscriptions and Recurring Payments automatically from the website. He don't have to log-in to paypal account everytime and pay the invoice. The customers are automatically billed on the mentioned billing cycle. Customer have access to cancel subscription by logging to his paypal account.
For profiles created using Express Checkout, you can increase the recurring payment total amount by 20% maximum in a fixed 180-day interval after profile creation. The 20% maximum is based on the total amount of the profile at the beginning of the 180-day interval, including any shipping or tax amount.
You can also modify recurring payments profiles from the PayPal website.
Q. What are eCheque Payments?
Ans. With eCheque payments, you can transfer money directly from your bank account to another user's PayPal account. eCheques differ from Instant Bank Transfers, as they are not instant payments. eCheque payments normally take around seven to nine working days to clear. To make an Instant Bank Transfer you must have an up-to-date credit or debit card registered to your PayPal account.
If you have received an eCheque, you are not permitted to cancel an eCheque payment. When it is requested by the sender, you are able to issue a refund.
Sending money Option:
It’s free to send money to friends and family when you use your PayPal balance or bank account as your funding source. If you use a debit or credit card to fund your payment to friends and family, fees will apply. Fees also apply if the money you send is to pay for goods or services.
Merchant rate fee schedule:
The standard rate for receiving payments for goods and services is 3.4%.
If you receive more than £1,500.00 GBP per month, you're eligible to apply for PayPal's Merchant Rate - which lowers your fees as your sales volume increases. Your fees can be as low as 1.4%, based on your previous month's sales volume.
Rolling Reserve:
Paypal has started holding back portions of some merchants’ receipts as large as 20% in a rolling reserve to cover charge backs or refunds.
PayPal reserves are typically 1% to 5% of PayPal sales, but can go as high as 20%. PayPal determines whether to require reserves based on risk associated with the type of product or service being sold, the merchant’s history of charge backs, and the length of time they’ve been PayPal sellers.
Paypal, the well renowned online e-commerce holds the dominance worldwide in day to day transactions processed over the internet. It has got its own fraud screening system deployed to resist infiltration of possible fraudulent transactions.
The introduction of Internet has also brought along a revolution in the money transfer process. Ecommerce being the heart of Internet, has only been successful due to the payment gateways such as PayPal, Google Checkout, Moneybookers etc. It has enabled consumers with shopping products and services offered by various manufacturers, retailers and service providers. eUKHost too is no exception to this. PayPal being one of the widely preferred payment processing gateways, allows our customers with paying their fees for the availed hosting packages and domain names.
PayPal is a service that allows you to pay, send money, and accept payments without displaying financial information. You can use paypal for personal or business reasons. PayPal allows individuals and businesses to transfer the funds electronically. Paypal can securely store all your payment options, such as your bank account and credit card.
When you are making payment, you don't have to pull out your credit card or type your billing info every time. You only have to click on the PayPal checkout button, log in to your PayPal account >> select the payment method. Payment will complete without sharing any info with merchants and sellers. You can use it to pay for online auctions, purchase goods and services, or to make donations. You can even use it to send cash to someone with an e-mail address, whether or not they have a PayPal account.
So how exactly does it work ?
Q. How is the Customer Verified?
Ans. The client only needs to Add and Confirm a Bank Account. An amount is sent to the client account in the form of two deposits. Then s/he is expected to enter these deposits on the PayPal website. After with the account is verified via telephonic conversation which is handled by a third-party authentication service to check if the entered details are accurate and appropriate. Once this is done, your are all good to go with using PayPal.
Q. How is the Verification done via Credit Card ?
Ans. A user needs to update his/er information in PayPal, after which you'd be asked to pay for the two minor charges made to your credit card. Then the user is expected to visit PayPal's website and enter those charges along with the adjacent code as displayed in the credit card statement. The amount paid gets reimbursed and hence the verification is done successfully.
Users may opt for linking the PayPal account with the Credit Card, its built-in automated system verifies the address with the Credit Card company. If they aren't successful with it, users might sometimes be asked to complete their Expanded Use enrollment process for activating the credit card.
If you are a company, firm, enterprise etc. who deals in selling products and services wherein you expect people to pay for it, then such payments done via. every major credit/debit cards, bank transfers and PayPal balances are easily possible. While if you are a consumer who wishes to buy products/services, you have the leverage for choosing the mode of payment.
Q. How Subscription payment works?
Ans. With recurring payments, you can bill customers on a regular basis at intervals that you choose. Customers can setup PayPal Subscriptions and Recurring Payments automatically from the website. He don't have to log-in to paypal account everytime and pay the invoice. The customers are automatically billed on the mentioned billing cycle. Customer have access to cancel subscription by logging to his paypal account.
For profiles created using Express Checkout, you can increase the recurring payment total amount by 20% maximum in a fixed 180-day interval after profile creation. The 20% maximum is based on the total amount of the profile at the beginning of the 180-day interval, including any shipping or tax amount.
You can also modify recurring payments profiles from the PayPal website.
Q. What are eCheque Payments?
Ans. With eCheque payments, you can transfer money directly from your bank account to another user's PayPal account. eCheques differ from Instant Bank Transfers, as they are not instant payments. eCheque payments normally take around seven to nine working days to clear. To make an Instant Bank Transfer you must have an up-to-date credit or debit card registered to your PayPal account.
If you have received an eCheque, you are not permitted to cancel an eCheque payment. When it is requested by the sender, you are able to issue a refund.
Sending money Option:
It’s free to send money to friends and family when you use your PayPal balance or bank account as your funding source. If you use a debit or credit card to fund your payment to friends and family, fees will apply. Fees also apply if the money you send is to pay for goods or services.
Merchant rate fee schedule:
The standard rate for receiving payments for goods and services is 3.4%.
If you receive more than £1,500.00 GBP per month, you're eligible to apply for PayPal's Merchant Rate - which lowers your fees as your sales volume increases. Your fees can be as low as 1.4%, based on your previous month's sales volume.
Rolling Reserve:
Paypal has started holding back portions of some merchants’ receipts as large as 20% in a rolling reserve to cover charge backs or refunds.
PayPal reserves are typically 1% to 5% of PayPal sales, but can go as high as 20%. PayPal determines whether to require reserves based on risk associated with the type of product or service being sold, the merchant’s history of charge backs, and the length of time they’ve been PayPal sellers.
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. She doesn't work for PayPal.
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