Tuesday, September 9, 2008

PayPal: Another Triumph

PayPal was another stumbling block for me, before my EBay experience. Several years ago I tried to sign up to use PayPal, and for whatever reason, the attempt was not successful and I was not inclined to try their service again. Well, when I was setting up my EBay sellers account, I had to choose the option on how I was to receive my payments. In theory, PayPal seemed to be the most logical option to me, so, I decided to give it another try. And this time, it was successful!

Setting up the account took a few minutes, and required some detailed information, but nothing too complicated. Once I was set up and began using my account to receive payments to, I realized how convenient and useful PayPal was going to be. For anyone who has not used this service before, imagine a "clearinghouse" where merchants can send payment money to a sellers account. The seller receives the payments into their PayPal account, and then, when they choose, have the money direct-deposited into their personal bank account. One benefit is that instead of having a lot of deposits going into your bank account that you would have to reconcile at the end of the month, you decide how many deposits you want, and how often. (Assuming you have payments in your PayPal account to transfer!). In addition to this, there is the added ability to print out a monthly statement from PayPal for your account activity. I'm finding this a useful way to help organize my sales receipts, and having streamlined organization from the beginning of a project is something I really believe in.

Now, not every merchant uses PayPal for payment processing, but, since so many places do, it's great to have it. I couldn't see running an Internet business without it! If you want to know more, have a look around PayPal here.

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