PayPal makes an eCommerce business easier for them as a Solopreneur with a friendly business account policy. If you own a business online, it can be a great decision to rely on PayPal for your transactions. With over 300 million users, PayPal is becoming even stronger at supporting businesses, especially as a Solopreneur. PayPal takes over most of the severe problems that small business owners face, such as payment guarantee.
Although there are some steps you have to follow, such as PayPal bank account or card verifications and maintain some user policies, PayPal can be a big help for your business. I’ll give you tips and tricks that can help you scale up your business and be successful without needing a team behind you. Stick to the article to start maintaining a business as a Solopreneur with PayPal as your payment solution.
6 Great PayPal Tips for Solopreneurs and Small Business
Using PayPal as a solopreneur can be a great decision because you don’t have a team to look after your transactions. Here are the tips and tricks for PayPal you must know if you’re running a small business as a solopreneur:
1. Upgrade your account from personal to business
Doing business means you’re going to make multiple transactions daily and have a big amount at the end of the month. If you’re new to PayPal and have a personal account, consider upgrading it to a business account to run your business. The personal account on PayPal has limited access to the features that you must have for running a business. There are several reasons why a business account can help you more than a personal account.
The business account will help you accept payments from credit card customers who don’t have a PayPal account to your PayPal account. Second, you can run the account under the banner of your business without any transaction limitations. You can either select a business account at the opening or upgrade the existing personal account by providing the business information.
2. Get a PayPal debit card
Using a PayPal account can help you grow big with your business to a new level with big amounts in your account. It’s important to have access to your balance in your PayPal account at any time because you never know when you need the money. If you apply for a PayPal debit card, it will give you instant access to your balance in your account. Using PayPal bank account facilities can be a great solution for offline access to your balance.
You can use the PayPal MasterCard debit card in any ATM and withdraw any amount at any time. As a solopreneur, you will need direct access to your balance to stay strong and fight your competitions. PayPal also has a reward program with which you can get cashback if you’re making eligible purchases with the amount.
3. Learn to use the PayPal invoice service
One of the best facilities PayPal provides, especially for the business owners, is the PayPal invoice service. Although it doesn’t come so helpful for personal account holders, the business owners can benefit from it. With the invoice system, PayPal doesn’t just make your service more professional but also notify you when your customers receive it.
If you provide an invoice to your client, it will include a payment link that allows the customer to pay with a credit card. You can also save the invoice as a template for future invoices if you need to make the same invoices again. Furthermore, you can customize the invoice with your company’s logo, brand name, and other credentials.
4. Add your Bank account or a credit card to PayPal
As a business owner, you must add your bank account or a credit card to your PayPal account for some good reasons. First of all, you can make transactions between your bank account and your PayPal account to make money in or out of PayPal. Secondly, you will get a great opportunity to backup your purchases online if the PayPal account cannot cover the amount.
If you’re shopping for a big amount and your PayPal account cannot cover the payment you need, the credit card is there for you. You can draw the payment from your credit card without exposing the information to the seller. It’s a great benefit to linking a card or bank account to the PayPal account as you can skip putting your card information on the checkout page.
5. Install the PayPal plugin on your browser
PayPal has come with its newest feature recently, and that’s the PayPal plugin to make your PayPal experience more delightful. The PayPal plugin can detect any eCommerce form when you’re checking out while buying something. If the platform supports PayPal, and you want to pay with PayPal for the items or service, the plugin will autofill your PayPal information.
It can save you a lot of time as a solopreneur because you have less time to put them in manually and recheck them. Another great feature the plugin offers is, you can generate random credit card numbers linked to your real card to hide the real number from fraudsters.
6. Get a PayPal security key
As a small business owner, staying out of any phishing scams is crucial for your growth online. As you’re using PayPal for the convenience, you need for transaction security, getting a PayPal security key can help you scale it up. With a business account, you can get this small device for free from PayPal to stay secure. It will generate a 6-digit random security number for your PayPal account for logging in. If somebody tries to access your account, they cannot access it because they don’t have the random security code.
If you’re planning to scale your business to the next level without dealing with payment hassles, PayPal is the one that can help you. Running a business as a Solopreneur can be a lot more difficult than running it with a team to look after different departments. Do some researches and make your PayPal account support you as a whole department to run y7our business without any hassle. The PayPal bank account service will help you get things done that would take a few people to get done without PayPal.