For many years, Cryptocurrency and the exchange thereof has been looked to as a means to pay for products online without having to rely on a Third Party Payment Distribution Company (3PL). The major problem with this is that not all products on the internet are supported by one or two major payment gateways. It takes time to set up an online store and this includes the time it takes to set up a payment gateway that will be able to send you payments from your customers in any currency they please.
This has created a void for several companies that have realized there is a huge market in the area of accepting Cryptocurrency for payment. In fact PayPal have recognized this void and have enabled many cryptobankers to accept payments from customers who wish to purchase goods online. Their new feature is known as PayPal checkout. When you use this new checkout system, you are able to make purchases from many different sites and currencies.
This means that a customer can make a purchase from you, but they are sending it to a company called PayPal which verifies the transaction and then charges the customer’s bank account for it. This makes it easy for your customers because they do not have to supply any information about themselves in order to buy from you. All they have to do is choose the site and currency that they would like to purchase from you and then you will send them the proof of funds from their bank or their PayPal account. At that point they are allowed to complete the transaction and then they will have paid for what they wanted to buy. There are a few different ways that you can setup PayPal checkout for your customers.
The first way that PayPal enables cryptobankers to make purchases is through their Purchase Price Verification system. This feature allows customers to enter their personal information and the amount they want to purchase and then PayPal will charge the customer’s account for it. If the customer disputes the chargeback they can then create a ticket using the Help center. Once the dispute is resolved PayPal will remove the disputed transaction from their records and may allow them to purchase the product again.
The second way that PayPal enables cryptobankers to make a purchase is through the SecurePay option. This is also used for Paypal checkout which is just one of the many ways that you are able to process Paypal payments. With this option you can process payment through PayPal and add the customer’s check or money order to your merchant account. This is great for those that do not accept all major credit cards and for people who need to charge items that cannot be paid for with a check.
You can also process payments through Paypal to verify that the items are available on the site before you actually place the order with Paypal. You may want to verify the availability of certain products before you make a purchase because you do not want to place an order with PayPal only to find out that the item is not available at the checkout page because it was not verified. If this situation occurs to you, the customer can file a refund with PayPal for the item that was sold but not shipped. This is just another way that PayPal enables you to protect yourself and your business while you are processing a payment.
