Paypal debuts payments service for UK biz
- Added:
- Mar 26, 2007
Website Payments Pro features three functions: Express Checkout, Direct Payment API and Virtual Terminal.
The Direct Payment API lets merchants accept credit or debit card payments just as they would with traditional merchant accounts.
Buyers enter their card details directly on the merchant website. Payments are processed through PayPal.
The customer initiates and approves a PayPal payment earlier in the checkout process, after which billing and delivery information are sent immediately from PayPal to the merchant's website.
When using PayPal Express Checkout a buyer can use any major credit or debit card as well as bank funding or PayPal balance. Besides Visa, Mastercard, Amex, Switch, Solo, and Maestro, PayPal enables a merchant to accept payments from a wide range of locally preferred funding sources such as Discover or ACH in the US and Canada, or Giropay or ELV in Germany.
Website Payments Pro also includes a new feature called ‘Virtual Terminal., letting merchants accept orders 'offline' via phone, fax and mail.
Merchants use an online interface to manually enter card details, which are then processed by PayPal.
Paypal added that businesses can be approved and accepting payments with Website Payments Pro in a matter of days.
There are no set up or cancellation fees, reporting or gateway costs. Pricing for Website Payments Pro includes a monthly fee of £20 and a per-transaction rate of 1.4 to 3.4 percent plus 20 pence. As an introductory offer, PayPal will waive the £20 monthly fee until July 2007.