06 Jan How to Use PayPal Mass Payments?
Businesses that need to send out commissions, rewards, rebates, refunds, or other general payments to their clients can do so through PayPal mass payments. The process is really simple. All the business needs to do is ensure that they have a merchant account through PayPal. Instead of being charged a fee to send out money to each one of their clients, they can send out money to all their clients in one big sum for just one fee.
A business can make a list of all of their clients through PayPal. They will just need their email address in order to send them the funds. If the client has their email address linked to their PayPal account, they will receive the funds immediately. If their email address is not linked, they will be sent an email to have them link their email address that the business has. If the client does not have a Paypal account, they will be provided information in order to get one in order to receive the funds that the business sent them.
Companies can benefit with PayPal as their merchant account. They will be able to accept credit cards from the customers. The funds will be transferred into their Paypal account. They can then transfer the funds to any bank account they have on file or keep it in their PayPal account for future use. The merchant account will only charge the business a small fee for each credit card transaction they put through. The credit card payments can be made online through the business’s website, with a credit card reader at their location, or on their smartphone at any location with internet access.
The fees that the merchant account will charge is going to be based on the type of credit card that is being used to make the transaction. Each major credit card logo will be charged a set fee plus a percentage of the transaction amount. Reports can be accessed through PayPal for the mass payments being sent out or for credit card payments being received. The company will be able to access the reports on a daily, weekly, monthly, or yearly basis. This will give them an idea of how well they are doing during certain time frames of the year. That way, business owners can tell what types of specials are working best for them, what number of employees they need to have on staff, and where their business is making the most sales. Some will find that they will make more sales through their personal website than at an actual store.