Ecommerce and online payment processing giant, PayPal has taken how you can collect payment online into a new level. Until recently you can only use PayPal to collect payments from a website, via email, card reader but not on social media pages. That has now changed with a new service PayPal has rolled out to its users called Sell on Social.
Though PayPal has been in the mobile payments business for well over a decade, it has, however, top-up its mobile payment service by introducing a system of payment in which a business or service can make transactions and receive payment on social media. This is indeed a huge advancement for B2C (Business-to-Consumer) and C2C (Consumer-to-Consumer) companies. This is because PayPal Sell on Social results to more sales on the social media space.
What is PayPal Sell on Social?
PayPal sells on Social is a newly introduced method or mode of online payment that allows a business to sell and receive payment for items on social media platforms like Linkedin, Twitter, Facebook, Instagram and Pinterest. With PayPal selling on Social, a business can simply add a bank account, while a buyer can buy products or services on social media just like the online method of PayPal payment.
Why is PayPal social media payment good for a Business?
Here is a list of reasons why PayPal is good for a business
It is quick and easy to set up
You do not need to build an online shop and incorporate payment options anymore. In just 3 steps, you can create your business very own PayPal.Me.link. Which makes it easier for customers to purchase your product or services. It also enables customers to get familiar with your brand as well.
It enables you to turn every conversation into closed deals
PayPal social media helps to close sales right away. All you need to do is to share your PayPal.Me link with your customers via chat apps and instant messengers to get paid. There is no need to switch between applications to complete the transaction.
Get paid the easier and safer way
You do not have to share your bank account details to receive payments. Your customers click on your PayPal.Me link with the requested amount to pay, and you get paid in moments. You also have the flexibility to shop using the money or transfer it to your bank account.
A list of ways you can use PayPal to sell goods and services
1. PayPal Payments Standard
this is a perfect method that is ideal for those looking for something simple that one can implement by oneself. It allows you to accept credit and debit cards, plus PayPal and PayPal Credits. With Standard, adding payment buttons to your site takes little more than copying and pasting a few lines of HTML code no developer help required.
When customers check out, they pay securely on PayPal.com before returning to your site. PayPal Payments standard has no monthly or setup fees and low long-term commitments.
Note: You can only pay a transaction fee when you get paid.
2. PayPal Checkout
This option is a one-and-done payment solution that lets your business accept a range of payment types. With a single integration, your checkout will automatically show customers the most relevant payment options – whether it’s PayPal, Venmo1, PayPal Credit2, major credit or debit cards, or (coming soon) a local payment method. And no matter how someone chooses to pay using PayPal Checkout, they’ll be able to complete their payment without leaving your site. (See all merchant fees
3. PayPal Payments Pro
This option is perfect for those who want to accept credit and debit cards, PayPal, and PayPal Credit, but need a more customizable solution. With PayPal Payments Pro, we’ll help your developers create a unique checkout process that’s integrated with your online store, making the purchasing experience seamless for your customers. You can choose everything from the colours to the layout and language. You pick the details to develop a checkout process that’s perfect for your business.
In addition to online orders, PayPal Payments Pro lets you process credit card payments over the phone, by fax, or by mail with Virtual Terminal. Virtual Terminal lets you enter a customer’s credit card information directly into your PayPal account, so you can be flexible and accept payments in the way that’s most convenient for your customer.
PayPal Payments Pro with Virtual Terminal is $30 per month plus a per-transaction fee but without additional setup fees or long-term commitments.
This is a perfect tool for millions of business that leverages on the power of mouth strategy through social media marketing.
Selling on social media pages has been a slow process. And if you can sell, the payment processing tends to be available only via the platform owner. Now that PayPal has extended its services to social media pages and made it easy for you to collect a payment, selling on social media platforms will never be the same.