written by michelegoudieedited by Donna Cosmatoupdated The process to decide on a merchant service provider is not an easy one. Learn how you can compare fees and services between traditional cbd s or PayPal. The information provided demonstrates the weaknesses and strengths of both options. slide of Accepting credit cards is a big step for any burgeoning entrepreneur. It shows that you’re ready to take the risk that is associated with credit card processing in order to increase your profit margins. There are literally thousands of existing options and methods for accepting credit cards.
A major player in the game is PayPal. They offer a variety of cbd s to compete with traditional cbd providers. Take a look at PayPal vs. cbd s to help decide which makes the most sense for your business. slide of The Basic Differences PayPal touts itself as being an awesome solution for sellers. Anyone with an email and bank account can pay instantly, putting funds into the seller’s hand in no time. There is no doubt that PayPal revolutionized payment systems and provided credit card payment access to untold numbers of people.
However, PayPal does have a selflimiting feature and that is they are purely an online entity. There are no credit card machines of any type offered. There is an option to phone in a credit card, but it is not very convenient when compared to swiping a card. The other drawback to PayPal is the fees. In general, the fees are higher than standard cbd s. There is an option for obtaining lower fees, but you must process transactions in volume. Unlike PayPal, a cbd offers the seller the ability to swipe cards in a number of situations.
In fact, a vendor can purchase an attachment for a smart phone that swipes and runs the transaction. No more having to purchase an expensive portable cellular machine. An advantage of traditional cbd s is lower fees. cbd s, in general, expect that a certain volume will be generated to maintain a lower fee and transaction cost. This can be a limiting factor for the smalltime business person who does not have a large amount of monthly sales.