PayPal is a widely used way to send and receive money online. With it, you can access more than 200 countries if your own country isn’t on the list of allowed nations for PayPal- even nonresidents will get an account with just some procedures that are discussed below!
Who are PayPal’s customers?
Small business owners, Shopify, and Freelancers up most PayPal users. They choose PayPal over other payment options because of the cost. It is free to use and has no annual subscription fees. Online customers can use PayPal to make payments without the merchant charging any fees.
Disadvantages of not having a PayPal account
- In order to protect buyers and sellers, PayPal has put in place several security protocols.
- These days, PayPal is the most secure method of payment.
- According to a recent study, 69% of US internet buyers feel safer making purchases from shops that accept PayPal.
- Businesses that accept PayPal as a payment method see a decrease in cart abandonment and an increase in conversion because of PayPal’s reputation for security.
- Most importantly no other payment method has the variety of financing options that PayPal has – like PayPal business loans or working capital.
- PayPal comes with simple billing management for small businesses, including the ability to accept ACH and e-check payments, with no additional setup or monthly fees.
- PayPal provides small businesses with mobile-friendly payment options to boost conversion rates.
- Customers can log in to their secure PayPal accounts to make purchases without leaving the seller’s website.
- Compared to other current payment systems, PayPal offers Shopify, Freelancer, and other small businesses the most significant advantages.
Now, to open PayPal account in us as a non-resident, you must start with:
- Creating a US entity
In order to open a PayPal business account, you must first have a legitimate US-based company (LLC) and it can be in any state. You will receive a “certificate of formation” document after your company formation is done. This document will verify your company. You must have both a registered agent address and a valid address to receive mail. Rocket Wave Inc. can help you with USA company registration quickly and easily)
2. The second step is securing an Employer Identification Number (EIN)*
Your company requires an EIN to get started, and after you have one, you must file for an ITIN. Rocket Wave Inc. can help you to get your EIN quickly and easily.
3. The third step involves applying PayPal and confirming your business.
While you get verified, you will receive a debit card to your business address. ‘