PayPal has the advantage of being both incredibly useful and powerful while being easy to set up, all at the same time. The standard PayPal offering is free to use and it offers most very small businesses exactly what they need to start accepting payments online. It’s a great place to start if you are just doing a few credit card transactions a month. As your business grows, your PayPal account can be upgraded to add more features (for a monthly cost).
(Link: PayPal Standard)
PayPal Standard is the basic PayPal account and a great entry-level solution if you’re just considering online payments. It is easy to set up and does not charge a monthly fee. For larger payments, PayPal Standard’s discount rate (see pricing) lowers to give you a bit of a break. One thing to note: as this is PayPal’s entry-level solution, when your clients click to pay an invoice, they’ll be taken from your FreshBooks account out to PayPal’s interface. It’s not entirely seamless, but it works. If you’re only doing a few credit card transactions a month. Also, if your clients also have PayPal accounts, they can pay via PayPal-to-PayPal transfers, which are virtually free.
(Link: PayPal Website Payments Pro)
This is essentially a higher-level version of PayPal Standard, with a cleaner interface and your own personalized branding. Unlike many other payment gateways, this version of the PayPal gateway does not require a merchant account. This is advantageous if you don’t like paperwork and/or your business is fairly new. Getting a merchant account can sometimes take some time and it can prove more difficult if you are just starting out. The downside with this gateway is that you won’t be able to set it up for recurring transactions (auto-bills), to automatically charge your customers’ credit cards on a regular basis.
(Link: PayPal Payflow Pro)
This is a further step-up from PayPal Website Payment Pro. PayPal Payflow Pro is a fully functional payment gateway that you can use to automatically charge your customers’ credit cards as well as process one-time fees very seamlessly. Payflow Pro requires you to obtain an Internet merchant account, although they will provide some assistance to help you get set up. Payflow Pro has proven to be a very flexible solution; giving most small to mid-sized businesses all the features they’ll ever need in a payment gateway.
Payment Gateway Solution
Ozg Banking Consultant
Ozg Center, New Delhi / Mumbai
Ph. # 098-735-23276; 084-476-06974, 098-735-09314