Payment

PayPal Payment Processing

At our independent store, we are thrilled to offer PayPal as one of our secure payment options. Below is a detailed overview of how PayPal works, its settlement process, and the policies that govern its use.

How PayPal Works:

  1. Account Creation: Sign up for a personal or business account at PayPal.com. You'll need to provide basic information and link a bank account or credit card.
  2. Sending Payments: Payments can be sent to any email address or phone number, whether the recipient has a PayPal account or not. If they don't, they'll be prompted to create one after you send the money .
  3. Receiving Payments: When you receive a payment, it's deposited into your PayPal account. If you don't have an account, you'll be sent a link to create one and receive the payment .
  4. Payment Options: You can pay using your PayPal balance, linked bank accounts, or credit/debit cards. For businesses, PayPal offers a range of solutions for day-to-day operations, including payment portals and business management services .

Settlement Process:

  • Immediate Settlement: By default, PayPal transactions are settled automatically, typically within 24 hours. This can be manually initiated by updating the transaction status to "100" during the authorization request .
  • Deferred Settlement: You have the option to defer settlement for up to 7 days by setting the transaction's settle status to "2". This can be done during the authorization or by updating a previously authorized transaction .
  • Partial Settlement: If needed, you can settle a lower amount than what was originally authorized by updating the transaction and specifying a lower amount, as long as the original transaction is still pending settlement .

PayPal Policies:

  • Fees: PayPal charges fees for receiving payments, which can vary depending on your business type and location. As of August 2, 2021, merchant fees increased to a fixed rate .
  • International Transactions: PayPal allows you to send and receive international payments. However, there are fees associated with currency conversion and international transactions .
  • Dispute Resolution: If a buyer and seller cannot resolve an issue, PayPal's dispute resolution process helps them find a solution. Funds may be held until the dispute is resolved .
  • User Agreement: It's important to review and agree to PayPal's User Agreement, which outlines the terms and conditions of using their services. This includes policies on account limitations and termination .

Security and Protection:

  • PayPal is committed to providing a secure platform for transactions. They offer buyer protection on eligible purchases and use advanced encryption and fraud monitoring to safeguard your transactions .

By choosing PayPal, you benefit from a streamlined checkout process, global payment capabilities, and robust security measures. Thank you for shopping with us and choosing PayPal for your payment needs.