How does a PayPal business account work

Set up a PayPal business account

Set up a PayPal business account

PayPal is a worldwide known online payment network. Its simplicity, speed, and security have made it one of the most popular online payment methods. After you have connected your credit card to your PayPal account, you can pay online at any merchant or service provider, as long as PayPal is specified as the payment method. The recipient of the payment will receive the money immediately after you have made the payment.

To be able to offer PayPal as a payment method in your online shop, you need a business account with PayPal. You can only accept payments via PayPal if you have a business account.

If you already have a business account with PayPal, you can go directly to the article Set up PayPal as a payment method.

  1. Open PayPal.
  2. Choose Business account and click Further.
  1. Enter your email address and click on Further.

  1. Enter the email address and password that you would like to use for your PayPal account. Fill in your personal data and accept the terms and conditions and click on Accept and continue.

 

  1. Select your type of company.

  1. Proceed by providing the requested information. click on Furtheras soon as you have given all the information.

  1. Enter your personal data and click Further. 
  1. List all shareholders in your company. A shareholder is a person who has at least 25% shares in your company. If you do not have shareholders, provide information about the person who makes the key decisions in your company. click on Further.

 

  1. In the next step, please state that at least 50% of your company's gross income comes from dividends, interest, rents, licenses or similar sources. For smaller stores, this answer will mostly be No. Based on your previous answer, you may find another one Yes No Have to answer the question. When done, click again Further.

 

As soon as these steps have been completed, your PayPal business account is set up. Now all you have to do is confirm your email address. To do this, click on the link in the email from PayPal that you received in the mailbox that you specified in the fourth step.

Now you can get your PayPal account ready for use. To do this, go to the settings of your PayPal business account. To do this, please click on the following link: https://www.paypal.com/activation/businessSetup#account

 

  1. Now you have to connect your credit card to your PayPal account. To do this, click on profile and click on Connect and confirm the Debit or credit card.

  1. Enter your credit or debit card information and click Further. PayPal will now transfer a few cents to your account to verify that your account is valid. In the payment purpose of this payment you will receive a 4-digit code that you have to enter in your PayPal profile in order to verify your bank account. The transferred cents will be returned to PayPal within 24 hours after verification.

 

  1. Once your card is verified, you can adjust your monthly limits. click on profile and then on Increase in account limits

 

  1. Select the limits you want to increase (limits for annual transfers or withdrawals from your PayPal account) and then click on Increase limits.

If you would like a video tutorial, you can find one on Youtube that was created directly by PayPal.

Now you can add PayPal as a payment method to your online shop.