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What is PayPal Pro? Benefits, Registration and Sales Increase with PayPal Pro

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Are you running an online business and want customers to pay as quickly as possible with debit or credit cards? Are you trying to increase the conversion rate to increase sales revenue? For stores raking in hundreds of thousands of dollars a month, increasing some percentage of the conversion rate can significantly help to increase revenue.

PayPal Pro is an effective way for store owners to build a fast and clean payment flow and for customers to checkout easily. PayPal Pro also has other lesser-known benefits. So, what’s PayPal Pro? How to register for it? And what benefits will it bring you? Let’s explore these topics with Global Link Asia Consulting.

1. What is PayPal Pro?

According to PayPal’s official definition, PayPal Pro (also called PayPal Payments Pro) is a payment product that provides API connection between a website and PayPal. This allows customers to pay directly with debit or credit cards on a merchant’s website. The merchant can customize the API to create the best checkout process for their store.

Notes: PayPal Payments Pro is only offered to PayPal Business “VIP” accounts that have done Underwriting with PayPal. 

 

2. Benefits of having PayPal Pro service.

2.1 Helps customers pay faster and more conveniently.

PayPal Pro allows customers to pay stores directly with credit or debit cards without opening a PayPal account. Customers will stay on the same page, and will not have to be transferred to PayPal’s payment site, which shortens checkout time. PayPal Pro also helps merchants extend their services to markets where customers prefer credit or debit cards, such as North America, Asia Pacific, Australia, and South Africa.

Additionally, PayPal Pro allows merchants to automatically store and encode customers’ information for recurring payments. There’s no need for customers to fill out payment details again at each checkout.

With PayPal Pro, customers have more payment options and save checkout time.

nhung-hinh-thuc-thanh-toan-paypal-pro-giao-dich-truc-tiep

Payment methods accepted by PayPal Pro.

 

2.2 Significantly increases the conversion rate and time on site.

PayPal Pro allows Merchants to customize the payment process on their store’s website for the best online payment experience for customers. Customers can pay directly in the store in just a few steps.

This streamlining of payment flow helps merchants to improve key website analytics metrics such as Time on Site and Conversion Rate.

With past payment information and purchase data securely stored, Merchant can also leverage the Reference Transaction feature to seamlessly upsell other products.

“Right after we switched to PayPal Payments Pro, Transaction Completion Rate sharply increased from 75-80% to 98%." 

Wayne Bower, Jedi-Robe.com

 

2.3 Helps enterprises save operation and management time.

Merchants can set up their API to record transaction history and order details. This saves Merchants a lot of time and effort in making quarterly or yearly business reports.

After each transaction, money is processed and transferred to the merchant’s PayPal account in real-time (usually just a few minutes).

This feature allows recurring payments without asking for customers’ payment information. It is thus able to help stores to sell software or goods with subscriptions. It also automatically debits customers’ debit or credit cards, which can reduce merchant worries about bad debts.

 

2.4 Helps enterprises significantly reduce transaction fees.

The transaction fees applied to PayPal Business “VIP” accounts with PayPal Website Payment Pro are usually lower than those of a normal PayPal Business accounts. The fee reduction depends on PayPal Underwriting results and monthly revenue transferred to the accounts. Larger transaction quantities and volumes enjoy larger savings.

No doubt, PayPal Pro is a helpful solution for enterprises to optimize customer checkout experience as well as to build a professional brand. This is even more so for dropshippers, online software service companies, and so on.

When PayPal “screens” Merchant accounts to detect risky ones, accounts with PayPal Pro face a lower risk of being locked or limited because they have already been underwritten. Therefore, for Merchant looking to stabilize their business activities and cash flow, doing Underwriting and applying for PayPal Pro a good option worth considering. 

 

3. How to Register for Paypal Pro?

3.1 When to register for Paypal Pro?

Please take note that only PayPal Business “VIP” accounts (which have been verified and underwritten with PayPal) can register for PayPal Pro. So, if Merchant wants to use PayPal Pro, when is the right time to request PayPal Underwriting?

Often, Underwriting should be done when stores anticipate a high growth rate or high to very high revenue. Stores may be using existing or new PayPal Business accounts. Also, if the Merchant’s current PayPal accounts are highly frequently limited by PayPal, they could try doing underwriting for a more stable operation.

If you are not sure, contact Global Link Asia Consulting now! We can help you assess if your business is qualified to request PayPal underwriting. We will also advise you if this is a good time to do so. We will research the current situation of your business and PayPal account to offer the most suitable strategy.

 

3.2 How to register for PayPal Pro?

Merchants who are eligible and suitable should spend a few weeks preparing documents for the underwriting process to upgrade Paypal Business to VIP accounts, then register for PayPal Pro. Depending on your business type, PayPal may require different documents and ask different questions. The most important thing is that the documents must prove Merchant’s good performance and business history.

Contact Global Link Asia Consulting now for information about the most suitable time to do Underwriting. We will also guide you on how to prepare documents and answer PayPal’s required questions to build trust, save time, and increase the success rate.

 

3.3 Some challenges and solutions. 

PayPal Pro is only available for enterprises in certain countries, such as Singapore, Hong Kong, the UK, and Australia, the USA, and some European countries. Thus, to request PayPal Pro’s underwriting, Merchant must have legal entities (enterprises) in the above countries. The most chosen option is Singapore because incorporating a company in Singapore is transparent and fast.

While running a PayPal account, Merchants may violate regulations, which may trigger PayPal to impose limitations for 21 or 180 days. However, opening (or purchasing) new accounts is not the only solution, especially for businesses that want to run a long-term, large-volume PayPal account.

Some enterprise owners do not resolve problems completely but "circumvent the law" by opening many different PayPal accounts. However, Dr. Hui Wang, PayPal’s Chief Risk Management Science Officer confirmed in a media interview that:

dr-hui-wang-paypal-su-dung-ai-de-danh-gia-hoat-dong-cong-ty

Dr. Hui Wang, Chief Risk Management Science Officer of PayPal

Not many individuals or businesses have enough knowledge or experience to quickly complete underwriting and register for PayPal Pro with the best results. However, these matters can be settled completely with a team of experienced and highly specialized consultants.

Understand the need to have a strong payment gateway and optimized cashflow, Global Link Asia Consulting would like to offer the following services:

Global Links Asia Consulting Company offer a wide range of services for company, such as incorporating new companies in foreign countries (especially in Singapore), supporting to open personal or business bank accounts at Singapore banks, providing tax consultation and monthly accounting services including support with the premier QuickBooks international accounting software, electronic signature, registering for international website domains, register for phone numbers in Singapore, US, EU, etc. for customer care, and other services.

Global Link Asia Consulting service packages will help Merchants to establish a stable operation and give them the ability to focus on core business activities to drive sales (if not violating any policies of the service provider). Global Link Asia Consulting is proud to be a Partner that works directly with international payment gateways, international money transferring service providers, international banks, and other partners. With many years of experience in the industry supporting businesses from small startups to Vietnam’s Top-500 corporations, Global Link Asia Consulting is confident in offering the most professional consulting service to all customers.

Contact us now:

  • Hotline: (+84) 0938 531 588
  • Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

This article was written by Global Link Asia Consulting Pte. Ltd., and was first published on www.globallinkconsulting.sg/ on 19th April 2021. Its copyright belongs to Global Link Asia Consulting Pte. Ltd.. All rights reserved. You may not, except with our express written permission, copy, modify, commercially distribute, or exploit the content.

246 Last modified on Wednesday, 14 July 2021 07:35
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