With all the buzz about Google Checkout, PayPal is still the king of payment processing, especially for small online merchants who rely on its full array of tools and services to boost sales.
But if you still think of PayPal as a simple service for handling cash, you’re missing out. Here’s a quick roundup of the top tools and services for small online merchants:
1. PayPal offers a number of reporting and management tools for small business, and is integrated with the leading accounting software tools from Intuit and Microsoft, as well as with the U.S. Postal Service and UPS.
2. Figure out costs with the shipping calculator. You can also pay for shipping and insurance with your PayPal account, with no monthly fees. Track and confirm arrivals, create and print packing slips
3. You can offer customized gift certificates through PayPal, which can help increase sales and attract new buyers to your site.
4. PayPal lets you send professional line-item invoices to your customers.
5. PayPal lets you handle payments from six currencies, including Yen and Euros. PayPal is available in 55 markets worldwide.
6. PayPal lets customers stay on your site during the checkout process, which gives you an opportunity to cross-sell and up-sell during checkout. So if your customer is buying a pair of shoes, for instance, you can offer them socks before the checkout process is completed.
7. You can take payments over the phone, in person, or via fax, using the Virtual Terminal feature.
8. Your customers don’t have to have a PayPal account to pay you; they can use the “guest checkout” feature for one-time payments without saving their information.
9. For eBay sellers, there is the handy get end-of-auction e-mails that notifies the winning buyer and provides him or her with a link back to the eBay payment page and your instructions for shipping, handling and payment. These can be customized with your logo and a personal message.
10. If you have a dispute over a transaction and qualify for the seller protection policy, you’re covered for up to $5,000 a year and PayPal will work with you to resolve the matter, often absorbing the chargeback cost.
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