PayPal

by , June 11, 2010

paypal-logoHow Channergy works with Paypal

Channergy downloads your Paypal transaction as a payment on the order. The downloaded order is ready to print and process. Channergy works with PayPal Pro too. If you have a merchant account with PayPal you can process transactions directly from the Order screen in Channergy. Take a phone order, get the credit card number and click Authorize. You’re done.

PayPal.Com

PayPal is an e-commerce business that allows you to spend, track and manage money over the internet. Using PayPal rather than a credit card or debit card will allow you to check out of online stores faster. PayPal is one of the most trusted forms of payment for many sites, specifically eBay and there are deals offered through various sites for using it such as discounts or free shipping and delivery.

How does it work?

When you sign up for PayPal, you link your bank account, debit card or credit card to your account so that your information is all in one place and payment is made easy. Information is kept confidential and you are able to add money to your account, if necessary, through MoneyPak which also allows you to use PayPal without linking it to a bank account, debit card or credit card.

Features:

There are many features and advantages available to PayPal users

  • Pay or get paid online
  • Send money
  • Rewards: Continuing to receive credit card rewards for using a specified card
  • Protection: Zero liability for unauthorized transactions

Bill Me Later:

This service allows you to purchase items and pay them off, similar to a credit card or loan service. The rate is high but it allows you to make payments for an item or items rather than paying in full.

MoneyPak:

MoneyPak allows you to add money to your PayPal account without using a credit card, debit card or bank account. You can purchase a MoneyPak with cash at one of 40,000 retailers and then add money quickly. The retailer charges a service fee of about $5.00 and you can add anywhere from $20.00 to $500 dollars at most locations, and up to $1,100 at Walmart.

Student Accounts:

Student accounts allow their kids 13 and older to have their first debit card. This is a controlled card. Only parents can open an account, will receive notices on spending and balance and be reassured that their kids cannot spend more than what is put in the account.

How Channergy works with PayPal and Payment Processing:

PayPal is most commonly seen on eBay for processing payments of items bought and sold through the auction site. It can be integrated to other online shopping sites (such as Amazon and Rakuten) but, how it works with Channergy will remain the same.

When a customer uses as credit card or debit card alone, without a PayPal account, as a seller, you need a merchant account to process the credit or debit cards and a 3rd party payment software package to receive a payment.

  • A merchant account is a type of bank account that makes processing credit cards safer for both the buyer and the seller. There are typically fees to open this sort of account and keep it open and running or when you make a sale. Some companies may offer discounts and claim no upfront costs, but there are costs and fees; they will just differ company to company, depending on who you choose as your merchant.
  • Third Party payment software packages are what connect Channergy to the merchant, whoever that may be. Some Merchants offer payment software, such as X-Cart, and often at a discount or even for free.

PayPal on the other hand, omits this process and acts as a complete merchant and payment processing system. To accept a payment, you must have a PayPal account as well and then you can transfer the money, when collected, and put it in your bank account.

While using PayPal can eliminate the purchasing of software and fees of a merchant account, rates are usually higher than normal credit card processing. When running a business online and selling many items, it’s important to take both alternatives into account and calculate numbers for your business to see what works best for you.

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