How PayPal is Transforming the Face of Small Businesses

by James Martell on January 1, 2013

It’s easier than ever for business owners to accept payments using PayPal Here, an encrypted mobile payment reader. People are shopping differently, because retailers are selling differently. If they aren’t selling online, then they’re selling at small venues like local shops and cooperative markets.

Using PayPal Here to Attract Customers

paypal hereThose small businesses aren’t equipped with all the high tech gadgets necessary to accept payments such as the machines used in major department stores or other types of retail outlets.

PayPal Here offers them a reliable way to accept payments. And because people associate the PayPal name with security, consumers know they can trust the retailer.

“The heart of PayPal is small business.” This is what Peter Karpas, North American VP of customer engagement, told blogger Emily Price in an April 2012 article posted at “The lines between online and offline and mobile are totally blurring for them. This comprehensive revamp of our products allows small businesses to get paid however they do business.”

PayPal – No Stranger to Small Business

PayPal has long been a friend to small business. It makes business easier and everything more convenient overall. For instance, it allows users to transfer the data in their PayPal accounts into the financial software from Quicken Home so long as they download the data from their PayPal account onto their computer as a QIF file.

  • Cost-Efficient – PayPal here offers a 2.7% flat rate for both PayPal payments and card swipes. Additionally, the app and card reader are free.
  • Convenient – In addition to having a business debit card to be able to access funds quickly, users earn 1% cashback on any eligible purchase.
  • Global – Although its availability was initially limited to Canada, Hong Kong, Australia, and the United States, PayPal has plans for Here to become available around the globe.

PayPal eChecks and Small Business

Having PayPal linked to the shopping cart on your website has so many benefits, but not all of them are a great idea. For example, PayPal offers an eCheck service to users that allow them to use PayPal as a middleman, transferring funds from their bank in order to pay for transactions they make on your website.

The problem is that if their bank lacks the funds, then as with personal checks the eCheck will bounce. When this happens in the case of eBay, you can file an UPI (un-paid item) report. However, there are other steps you can take as a small business owner to prevent issues with bouncing eChecks.

First you should always log into PayPal to check the status of the payment before shipping items or performing services. Information on the payment page will show either the date the payment cleared or the date PayPal expects it to clear. Contact the buyer via message to let them know the expected clearing date as you will not be shipping the items until the payment clears.

Additional Benefits of PayPal Here

The benefits of having a PayPal Here service for your small business certainly outweigh any disadvantages. For instance, you can connect multiple card readers to a single account. This allows employees to accept payments from multiple locations, whether in the same building or in completely different geographic areas.

The PayPal Here reader accepts payments from PayPal debit cards as well as Visa, MasterCard, American Express, and Discover debit or credit cards. The app is available in the iTunes store making it compatible with a wide array of iDevices, including the iPhone, iPod touch, and iPad.

The PayPal Here app is also available in the Google play store for Android devices. It offers all the same features as the iTunes version. Both versions allow features such as taking photos of inventory items, capturing personal check images, and setting merchant photos.

PayPal on the Go

PayPal Here is optimized for mobility. One reason I love it is because several merchants at my local farmer’s market offer it as a method of payment. I never seem to have cash on hand, but I always have my PayPal debit card, which in most cases is just as good if not better.

Now when I get the urge to impulse buy a jar of delicious homemade jam, freshly picked vegetables, or locally roasted coffee beans, I no longer have to run down the block to the bank’s ATM for cash. And because I’m using my debit card to buy directly through their PayPal Here readers, I’m not charged the $3 fee for using that bank’s ATM machine. PayPal makes the whole experience a win-win!

About the Author:

Freelance author Becky James-Muth uses the internet to research information about the articles she writes. She recently came across while researching information for a series of blog posts about teens and money. That’s a topic dear to her heart, as she and her firefighter husband are always trying to instill good financial habits into their two teenage sons. When she isn’t working Becky enjoys attending local music events with her family and knitting.

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