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Five Reasons Why PayPal Is The Perfect Payment Partner

Building a business in today’s hypercompetitive market is tough and smart entrepreneurs will tell you that choosing the right business and technology partners will make the journey that much easier. With more consumers realizing the convenience and choices available online, the need to have a secure and easy-to-use online payment platform in place has never been more important, especially for entrepreneurs and small business owners.

PayPal is the preferred way to pay and get paid for businesses, entrepreneurs and consumers alike. With over 117 million active users in 190 markets, PayPal provides an instant local and global customer base for businesses of all sizes. PayPal also has over 14 years of fraud prevention and risk management experience to keep both merchants and consumers safer online. It is a one-stop solution for small businesses to accept credit card and PayPal payments in just a few clicks, without sharing financial information.

PayPal is a global brand you can trust, and offers a simpler and more secure online payment solution that enables entrepreneurs to set up successful businesses online.

Here are five reasons why PayPal is the right partner for growing your business.


1) Enabling businesses to sell to Malaysians and consumers all over the world

Going global has always been a challenge for small businesses and entrepreneurs, with the limited and costly options for making international transactions in a timely manner. With more than 117 million active accounts in 190 markets and up to 25 currencies around the world, PayPal enables small businesses go global.

PayPal’s immense presence in markets around the world, as well as its international trust and recognition as a payment solution enables small businesses and entrepreneurs expand across borders in just a few clicks.

According to the latest PayPal Online and Mobile Shopping Insights 2011, there were 1.6 million online shoppers in Malaysia in 2011, a 44% increase from just one year ago. Malaysia’s online commerce market will grow three times from RM1.97 billion in 2011, to RM5.67 billion in 2015, demonstrating huge potential for merchants who choose to take their business online to meet consumer demand in Malaysia.


2) Safer and more secure transactions

Security is a top priority for PayPal. For merchants who have concerns about fraud online, it will be assuring to know that PayPal has industry-leading anti-fraud technology that ensures that transactions are kept more secure. With a variety of security measures in place, including data encryption, antifraud risk models, Card Security Code (CSC), Verification and a team of  several thousand antifraud specialists, unusual activity is detected on the PayPal system the moment it happens, and often before it affects merchants or consumers. PayPal also offers security tools and tips against identity theft and website/email phishing.

PayPal has dedicated Account Managers and a customer service team that will assist merchants when they face problems with their account or customers. The PayPal Dispute resolution centre helps merchants and their customers communicate to resolve issues and avoid claims. PayPal also offers guides to merchants to help them increase buyer confidence and handle merchant issues.

For merchants selling on eBay, PayPal also offers Seller Protection for verified PayPal merchants. This policy helps merchants reduce their losses due to buyer claims, chargebacks or reversals for unauthorised payments and eligible items not received.

3) Flexible payment solutions to suit business needs

A common complaint is how some online payment gateways do not offer flexible options for merchants to accept payments.  With PayPal, merchants have the flexibility to choose how they want to get paid. PayPal offers a variety of business solutions to suit the business needs of the merchant.

The Websites Payment Standard turns your website into an online store in just minutes with a few lines of HTML. For merchants who don’t have a website, PayPal Invoicing enables you to send invoices on your smartphone, tablet or computer, and accept payments via email. Merchants can also choose to sell on the world’s largest online marketplace with millions of buyers – eBay, with PayPal as your preferred payment option.

Unlike other merchant accounts which typically take two to four weeks to move payments into your bank account, PayPal ensures that you can receive your money in a more timely fashion.  Withdrawals from your PayPal balance into your bank account will take only up to three to six days.  PayPal offers merchants flexibility in accepting payments in a variety of ways. That’s one less barrier to creating a successful business.

4) No sign-up or monthly fees for business accounts

It’s been said that if you want something good, be prepared to pay for it. However, for many start-ups and young entrepreneurs, budgets are tight especially during a company’s initial growth stage.

Many payment solutions require an initial setup fee and a recurring monthly service charge to use their services for businesses. That is not the case with PayPal. PayPal only charges a transaction fee and there are no annual membership fees, hidden costs and no high processing fees or service charges.

Your business can enjoy powerful advantages associated with secured transaction services provided by a trusted global brand – with no strings attached. Click here to find out more about PayPal’s transaction fees.


5) Mobile and future-ready

With the proliferation of smartphone devices in Malaysia and across the world, the way people shop, pay and get things done in their daily lives is changing. In 2011, 4.4 million smartphones were sold in Malaysia#. Malaysian shoppers are driving a fundamental change in the retail commerce market by choosing to shop and pay using their mobile devices anytime, anywhere.

PayPal’s Online and Mobile Shopping Insights 2011 revealed that  mobile commerce in Malaysia is set to grow exponentially  from RM467 million in 2011 to RM3.43 billion in 2015,  The research found that close to half (40%) of all online shoppers had purchased something on their mobile device in 2011.

PayPal offers businesses solutions that help businesses take advantage of the mobile opportunity, to attract, connect and engage on-the-go consumers to enhance and expand their business. For example, PayPal offers its Mobile Payment Standard as a complimentary mobile checkout feature for all PayPal merchants that accept PayPal on their website. Designed to drive mobile conversion rates, the PayPal Mobile Payment Standard detects when a customer is using a mobile device and redirects them to a mobile optimized payment page to provide a better customer experience that increases conversion rates when paying on mobile devices.

 

At Entrepreneurs.my, we feel that PayPal has all the right solutions to offer for businesses, especially entrepreneurs in the region who rely heavily on online and mobile sales transactions and purchases.

As part of our effort to help create a better-informed and internet-savvy environment for entrepreneurs and businesses to thrive, we will be sharing the Do’s and the Don’ts for using PayPal along with some Tips & Tricks for getting the most out of your PayPal account.

Click here for more information about PayPal and how to sign up for an account.