What is the difference between PayPal and PayPal business account?

PayPal is an online payment service that is one of the world’s best-known digital wallets. It facilitates the transactions from consumer to business (C2B), consumer to consumer (C2C), and business to business (B2B). A PayPal business account enables new and existing merchants to accept and process credit card transactions, debit card payouts, and other payment methods.

The PayPal business account includes all of the same choices as a Personal account. However it also offers additional capabilities for small businesses. If you are an owner of a small business, you can set up PayPal business account to manage the sale of their goods and service online, in person, over the phone, or through other mediums. Let’s know some of the benefits of a PayPal business account.

Benefits of PayPal business account-

· You can accept multiple payment methods like credit cards and mobile payment apps.

· You can use the PayPal account under your business name

· Improve your conversion rates.

· Check out without PayPal accounts

· Make international transactions.

· Giving individual sign-ins for employees to manage specific aspects of the account.

How to set up a PayPal business account?

Following are the steps you need to take to set up PayPal business account:

· Sign-up for a PayPal business account, open the website, and click on the Sign-up that will link to the next step.

· Enter the business email address to open an account

· Select the appropriate account- there are two types of accounts Personal and Business.

· Once you select the "Type of Account" then, create a username and password to access your account after you finish the account set-up process.

· Complete the Profile information such as entering the business website, your mailing address, and phone number. Also if required enter your EIN or Employee Identification Number.

· At last complete the verification, from the confirmation; you receive in your email from PayPal.