![]() merchant accounts at a glanceĪ new, small business that desires an easy-to-use payment processorĪ high-volume business that would benefit from lower processing charges Keep in mind, however, that it is possible to use both a PayPal and a merchant account. In most cases, if your company processes a large volume of credit card transactions – such as retailers and restaurants – you will want to sign up with a dedicated small business credit card processing company other than PayPal, even if you plan to use PayPal for paying vendors. PayPal is also different because, while it offers credit card processing services and can function similarly to a merchant account, it is more expensive than most major credit card processors. PayPal differs from merchant accounts because it functions primarily as a digital wallet, with all of your business accounts – whether composed of proceeds from credit card transactions or cash deposits for paying vendors – combined into a single account.Įditor’s note: Looking for the right credit card processor for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs. What’s the difference between PayPal and a merchant account? ![]() Here’s a look at how PayPal differs from a merchant account and how to determine which is right for you. ![]() Funds collected from customers are held in your merchant account until they’re transferred to your company’s bank account. A merchant account is a business bank account that lets you collect and process credit card payments from patrons. PayPal is a financial services company that accepts payment from customers online and in person.
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