Paypal is probably the most commonly used and popular mechanism for accepting payments for electronic goods as well as tangible products available today on the Internet.
It is not without its problems though, as we will see.
But let’s take a look at Paypal, warts and all, to see why it is still the best way to accept payments for your goods.
Paypal is owned by EBay, and not surprisingly therefore, EBay therefore encourages the use of Paypal as a payment processor. If you buy or sell anything on EBay, you might also be asked periodically if you would like to sign up for a Paypal account. People who are unwilling or unable to get a Paypal account are often at a disadvantage when it comes to EBay auctions, since there are a lot of sellers who only accept Paypal payments, and a lot of buyers who are only prepared to make payments using Paypal.
But what is Paypal? How does it work?
Paypal does not offer a banking account or a merchant account. This is important to realize since it does govern the way that Paypal manages your money. More about this issue a bit later. Paypal offers the following features:
Paypal claims to have about 120 Million users worldwide and it is definitely the easiest way on the Internet at the moment to accept payments. It also offers multi-currency payments in the following currencies: CHF, CZK, DKK, HKD, HUF, NOK, NZD, PLN, SEK, SGD.
But Paypal is not without its problems – let’s take a look at some of the potential problem areas.
Despite these problems, the advantages easily outweigh the disadvantages. Let’s look at the advantages:
In summary therefore, one of the easiest ways to collect your money for selling your product online these days is to use Paypal. Now, to only get a way of easily integrating with that Paypal Shopping cart!
Internet Shopping cart for Selling downloads
Lots of people are interested in selling downloads on their website, and no wonder, since it is the type of product that is ideal to sell over the Internet. Compare selling video downloads for example, with selling, let's say, frozen fish.2Checkout - Overview as a Payment Processor
Actually, to just use the words ‘Payment Processor’ and ‘2Checkout’ in the same sentence is liable to get you into trouble.