Showing posts with label PayPal. Show all posts
Showing posts with label PayPal. Show all posts

Friday

PayPal Here - Credit Card Reader App For iPhone

Posted By: Poketors - March 16, 2012
PayPal introduced PayPal Here, a simple way to accept credit and debit cards, PayPal and checks – anywhere you do business. This global mobile payments solution allows small businesses to accept almost any form of payment. The new service includes a free app and fully encrypted thumb-sized card reader, which turns any iPhone, and soon Android smartphone, into a mobile payment solution. With PayPal Here, small businesses, service providers and casual sellers can send invoices or accept debit and credit cards, checks and PayPal using one simple product.
PayPal Here - Credit Card Reader App For iPhone
Image Credit : PayPal
Download PayPal Here for iPhone (Now available for United States, Canada, Australia and Hong Kong only)

PayPal Here gives merchants more choice than any mobile payment solution on the market today. No matter how consumers choose to pay, PayPal Here makes it easy, giving small businesses more sales opportunities. Merchants can accept payments by swiping cards in the card reader, scanning cards and checks using their phone cameras, or manually entering card information into the app. They can also send an invoice and set payment terms directly from the app and they can accept PayPal payments in a brand new way.

PayPal also released the latest version of its PayPal Mobile app for iPhone today, a consumer app that complements PayPal Here. PayPal users will be able to use the “Local” feature on the PayPal app to find nearby businesses that accept PayPal Here. Once the customer is ready to pay, they can notify the merchant by a quick tap on their mobile phone. Merchants can use PayPal Here to accept the payment by simply referencing the shopper’s name and picture – no wallet needed.

PayPal Here offers a competitive fee structure with no monthly account or set-up fees. Merchants pay a simple flat rate of 2.7 percent for card swipes and PayPal payments. In addition, every PayPal Here merchant will receive a business debit card for quick access to cash and 1 percent cash-back on eligible purchases. If merchants use the debit card for purchases, their fees effectively come down to 1.7 percent.

Beyond all of the unique capabilities offered by PayPal Here, the key differences from other existing mobile payment solutions are that it includes PayPal’s world-class fraud management capabilities, as well as 24×7 live customer support. PayPal has more than 100 million customers around the globe and 13 years of experience providing secure payment products that have helped millions of merchants grow their businesses globally.

PayPal Here is the latest addition to a comprehensive suite of payment solutions for small businesses – from PCI-compliant express checkout options and invoicing, to debit cards and mobile-optimized checkout. The company plans to announce even more functionality to its merchants later this year.

Availability

The PayPal Here card reader and merchant app for iPhone are both available exclusively to select merchants in the United States, Canada, Australia and Hong Kong. It will be generally available in those countries next month. The Android version of the PayPal Here merchant app will also be available at that time. PayPal will announce the availability of PayPal Here in more countries soon. U.S. businesses can join the wait list to get a free PayPal Here card reader at www.paypal.com/here. International merchants can register their interest at their local PayPal site.

PayPal Here: Summary of Benefits and Features for U.S. Small Businesses 
  • The most payment types: swipe credit and debit cards, manually key in or scan card information, scan and process checks (U.S. only), invoice directly from the app, and accept PayPal 
  • Immediate card acceptance: download the PayPal Here merchant app, sign up and start accepting payments immediately 
  • One simple flat fee: the mobile app and card reader is free for both merchants and consumers, with no account setup or monthly fees, competitively priced at 2.7 percent 
  • Be paid quickly: merchants receive funds directly into their PayPal account whether the sale is online, mobile or via PayPal Here 
  • PayPal debit card for quick access to cash with 1 percent cash back on eligible purchases, fees effectively come down to 1.7 percent 
  • Security: PayPal Here uses end-to-end encryption to help protect card information as it swipes, backed by PayPal’s world-class security, risk and fraud management systems 
  • 24×7 customer support: live phone and online customer support – more than 6,000 customer service agents across 17 centers around the globe 
  • Backed by PayPal: One of the world’s most trusted ways to pay and get paid with more than 100 million active accounts worldwide in 190 markets and supports payments in 25 currencies. 
Source : PayPal

Wednesday

PayPal India Will Decline All Payments Made Above $500

Posted By: Poketors - October 12, 2011
There is some more sad news for PayPal India users. As we already know about the RBI guidelines to PayPal (not to accept any transactions that exceeded $500 in value). PayPal already informed the same to all its users in India. PayPal account holders will continue to receive payments exceeding that limit without any issues.

PayPal India Will Decline All Payments Made Above $500
Image Credit : PayPal india
PayPal (as per RBI guidelines) declines all transactions that exceed $500. But the most saddest part of it is that they will also-reverse all the previous payments till date you have got in or after March 2011 that exceeded the amount 500$.

So if you have received a payment of $800 and it was successful and you have immediately transferred the amount to local bank account. Here, your PayPal balance was $0. Here if PayPal wants to reverse that transaction and returns all the money to the sender from whom you have received that payment, in this case the sender will get his money back, But as the money has already been transferred to your local bank account so here you will have a negative PayPal account balance as - $800.

As per PayPal  there would be no charges applicable to its users to clear the negative balance and any further payments received in future maybe adjusted in your PayPal account. As of now, PayPal is not charging your credit card or your local bank for adjusment of the negative balance.

Hence you need to get the money back from your client and for this you need to search for an alternative way. The options such as wire transfer and printed cheque sent via mail can be considered as alternatives.

Friday

How To Add PAN And Bank Account To PayPal India Users

Posted By: Poketors - October 07, 2011
While opening PayPal account it asks for entering PAN card, purpose code and Bank Account to the newly created Paypal account and even for the old PayPal users too, this is mandatory. PayPal decided not to allow PayPal India users to receive more thank 500 USD in single transaction. Here we should keep in mind that there are ongoing effort to comply with the requirements set out in the notification of the Reserve Bank of India (“RBI Guidelines”) that apply to all online payment gateways and no doubt PayPal is the most convenient way for online transaction.


How To Add PAN And Bank Account To PayPal India Users
Image Credit : PayPal India
As per new instructions, all PayPal India users are asked to add PAN Number, purpose code and Bank Account details to their existing PayPal Account or same applicable to new account owner too.

Those who are using PayPal but don’t have Credit Card then it would  not be possible to Verify Paypal account with Indian Debit card. In other way, you can verify your Paypal account by linking your Bank Account.
PayPal India users are requested to add the following 3 mandatory options to their exiting PayPal account in order to continue to transact or receive online payments and withdraw money. This rule is applicable to its new users too.

1. PAN details (Permanent Account Number)
2. A purpose code : A unique number for the user is given for safe mode of transaction.
3. A bank account.

How to add a  PAN, purpose code and bank account details your PayPal Account

  1. Log in to your PayPal account at www.paypal.com
  2. A notification prompt appear when you click the top of your “My Account” page showing you as “Limited Access” where you can click to enter your PAN, purpose code and bank account details.
  3. Click on the “Add” links and follow the instructions to add the required details.


As per the guidelines all Indian PayPal users are required to provide a current and accurate postal address on their PayPal account. Here are the steps to verify your postal address with below steps:

1.  Log in to your PayPal account at www.paypal.com
2. Click on “Profile” and select “Add/Edit Street Address”.

In case you have any doubt you can contact PayPal by clicking on ‘Contact Us’ at the bottom of the page.
Once Paypal India users have added a purpose code, PAN, and a bank account details and already validated their postal address, those users don’t need to worry about this new update for adding the details.

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