Are there disadvantages to using PayPal Business?
Yes, like any other payment services provider, PayPal carries some disadvantages. While affordable, PayPal’s transaction fees vary widely so merchants may find it complicated to keep track of their payment processing costs. As a payment aggregator, PayPal is also quick to freeze merchant accounts to reduce its own financial risk. PayPal is also widely known for its poor customer support, which makes resolving frozen funds and accounts difficult to manage.
What are the benefits of using PayPal?
PayPal’s popularity is in its ease of use and free payment app, but Paypal users also like the system because it is easy to set up, does not have an application process (you can start accepting payments in minutes), and lets you immediately access your funds through your PayPal Balance.
PayPal is also widely trusted by consumers, boosting online conversion on any website with a PayPal logo at checkout.
How much does PayPal charge for small businesses?
In general, PayPal business accounts are free. Merchants can use PayPal Business (online payment app) to accept payments online and PayPal Zettle (POS and in-person payment app) for free, so you only need to pay the transaction fees. However, some features, such as virtual terminals and recurring invoice management tools, are add-on services that include a separate monthly subscription.