What is PayPal?
PayPal is the most used online wallet in the world and can be used as a payment method in more than 200 countries. Customers connect their credit card or bank account to their PayPal account or add credit to their account. Payments can also be settled through smartphone or tablet, without filling out bank and credit card details.
How does it work?
PayPal payments are slightly different than most of our payment methods. PayPal processes the payments itself and also pays them to you. To use this service, it is therefore required to open a PayPal business account.
Yet there are 2 important benefits:
- Mollie provides feedback on the status of every PayPal transaction via the API to your website. This ensures that an order is automatically placed on ‘paid’. You do not have to constantly check the PayPal account to see if a payment has already been made.
- The status of each payment can be found in the transaction overview in your Mollie Dashboard. This means you will have an overview of all payments, made with different payment methods.
Mollie only charges a small fee of € 0,10 per transaction. Besides this, PayPal charges a percentage of 3,4% + a fixed fee of € 0,35 per transaction.
- How do I activate PayPal and link it to my Mollie account?
- What are the costs for a PayPal transaction?