Not everyone can afford a traditional online merchant account. PayPal is a service that will accept Credit Card payments on your behalf and then they’ll send payments directly to your checking account.
With millions of members worldwide, this EBay Company has made it easy for anyone to take payments online. You can send and receive money with PayPal while saving on the cost of a regular internet merchant account. I have several clients who also use PayPal to send payments to affiliates rather than mailing them a check. Almost everyone I know has a PayPal account for their personal buying but I suggest opening a business account to keep your business transactions seperate from your personal paypal purchases and keep your bookkeeping accounts clean.
It has been proven that offering PayPal as a payment option will actually increase sales conversion. Many online business owners accept PayPal in addition to traditional credit cards because you use PayPal to shop you don’t have to give away all your personal information which makes it appealing to many buyers.
Because PayPal is an eBay company, you can also use it to accept website payments in the place of a traditional shopping cart. PayPal has many services that are valuable to merchants.