I have PayPal for my business. Do I still need a merchant account?

By May 11, 2015 News No Comments

YES. And you should also keep paypal. Here’s why.

Paypal provides an easy and convenient way to begin taking payments for your business yet it also has a few limitations.

1. Feel – Paypal gives a site an “amateurish” feel. Customers tend to believe the business is very small if it only accepts paypal.

2. Funding Time – Paypal requires manual transfers from your paypal account to your bank account where an InChek account deposits directly to your bank

3. Flexibility – The reporting functionality within the InChek payment gateway provides a far superior experience relative to tracking and searching transaction data

4. Fees – Merchant accounts can often be cheaper than Paypal

5. Personal service. I love paypal but don’t love trying to get answers from them by phone.

So while I definitely recommend keeping your paypal account, I would also venture a guess that you do not realize how easy and affordable it is to get set up with your own merchant account as well. More payment options = more flexibility = more happy customers + more income for you.

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