There are two ways to receive money as a Shopify user, namely PayPal and credit card payments.
This article focuses on how to sign up for PayPal and Stripe and what to look out for.
PayPal
If you want to collect money with PayPal, you need to sign up for a PayPal business account, i.e. register with your business license.
PayPal business account registration information
Business license
Legal ID card
Mobile phone numbe
According to feedback from PayPal's account managers, PayPal will further strengthen its control over PayPal account registration next year. Many sellers are now buying business licenses to register for PayPal, and next year PayPal will require a legal person's handheld ID card. The implication is that you can stock up on more PayPal accounts this year.
It is not recommended to use a bought business license to register for PayPal. If there is a problem with PayPal, when you file a complaint, you will be required to provide a legal person's ID card and proof of address, such as a utility bill.
The biggest pitfall is that if this business license is also sold to someone else, and then the other party is selling imitation and infringing products, the other party's PayPal is frozen, your PayPal account will also be frozen because the two PayPal accounts are registered with the same subject.
If you are a Shopify independent seller, you will now find that when you sign up for a PayPal account, it will be subject to a first instance review as soon as the account is registered. This was not the case a few years ago, and in years past, PayPal accounts were registered and paid immediately, but not anymore.
When the order is placed on the website, PayPal will conduct a second review and ask for information such as incoming receipts.
According to the PayPal account manager, PayPal will audit the account a total of five times.
It is recommended here that you do not register too many PayPal accounts on the same IP, otherwise, you are wasting your business license. Secondly, it is actually possible to register numerous PayPal accounts with one business license, but in general, after registering the first PayPal account, do not immediately register a second one with the same business license, as it will basically be restricted in seconds.
For different PayPal accounts, it is recommended to use different business licenses, emails, mobile phone numbers, and credit cards to prevent one PayPal account from being frozen due to infringement and spilling over to other PayPal accounts. Please take care and proceed with caution.
If you are a site seller and need to register a large number of PayPal accounts, we suggest that you get a few more network lines, as you do with Amazon, to prevent association and improve the success rate of PayPal account registration.
Timely delivery to avoid dispute compensation. In the event of a dispute for compensation, the dispute fee is US$8. Over 1.5%, the dispute fee is higher
Choose a logistics provider that is connected to PayPal, so that the waybill number will be automatically uploaded to PayPal after the shipment is marked in the ERP system. cloudway is not connected to PayPal at the moment, so it is not recommended to use cloudway. For shipping, we recommend sending Yanwen, which has a connection with PayPal. This is something you can experience yourself.
The PayPal customer complaint rate is limited to 3%, if it exceeds 3%, the PayPal account will be frozen and the funds will be frozen for six months
Credit Card Collections
We recommend using Stripe, which has no account opening fees and is very easy to sign up.
Login to Stripe's official website, prepare the email address to be used for registration, business license, etc. and you can register. Once you have completed the verification, you can use it immediately.
To register with Stripe, you can use your personal details, or you can use your US or Hong Kong company details to register.
Login to the Stripe website
Follow the steps and fill in the information step by step to complete the registration. Once you have registered, you will need to verify your registration and you will be able to use it once it has been verified. So basically, you can use Stripe the same day you sign up.
【Source text: by report】
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