Cash and checks are continually becoming less and less common with your clients, while online payments, and credit and debit card payments are acquiring in popularity. A PayPal Merchant Account, or an account that enables the holder to accept payments in multiple ways (commonly debit or credit cards), can assist with starting your business up to these opportunities and value to your organization in various ways.
Key Benefits of a PayPal Merchant Account
- Accept Credit Cards
Quite possibly the main advantage a PayPal Merchant Account can carry is the ability to accept credit and debit cards. Credit cards and debit cards proceed to grow in preference among clients, gaining ground as the new ‘norm.' Businesses who prioritize their client experience frequently find that wiping out any friction in the purchasing or payment acceptance processes can assist with getting new clients and further develop cash flow.
- Increase Sales
A variety of studies and research over the years have found that clients spend more when given the choice to utilize credit cards over cash. Research from Community Merchants USA noted that in one survey, sponsored by Intuit, 83% of small businesses that accepted credit cards saw an increase in sales. This increase could directly influence sales and the general development of your business.
- Better Money Management
Accepting credit cards and moving to online payments smoothest out the way your business handles transactions. Rather than counting cash, electronic payments will assist with keeping you coordinated and take into consideration better cash flow management and forecasting.
- Avoid Bad Checks
By utilizing PayPal Merchant Account benefits and accepting electronic payments, your business can stay away from the hassle and expenses related to bounced checks. Moreover, matched with a total payment system your merchant account can give you the ability to accept recurring payments for services that you give on a repeat basis (classes, landscaping, cleaning, and so on).
Conclusion
A PayPal Merchant Account can prompt blissful (and returning) clients essentially because it gives them the flexibility to make buys in various ways. Whether it's with credit or debit cards, online payments through a shopping cart for your services, mobile payments, or recurring billing, your client will enjoy their experience with your business when they can shop how and when they need — easily.
