PayPal

Overview

PayPal is a global online payment system that allows individuals and businesses to send and receive money. It acts as an intermediary, offering buyer protection and supporting various funding sources like credit cards, bank transfers, and PayPal balance.

Pricing & Free Tier

Free Tier: No monthly fee to open an account.
Transaction Fees: Usually 2.99% + $0.49 per transaction (US commercial). Rates vary by country and volume.
Chargebacks: A $20 dispute fee applies if a buyer files a chargeback.

How to Use

1. Create a PayPal Business account.
2. Go to the Developer dashboard to get your REST API credentials (Client ID and Secret).
3. Integrate the PayPal Checkout SDK into your website or app.
4. Test the flow using the Sandbox environment before going live.

Important Notes

• Account Holds: PayPal frequently places holds on new accounts or high-volume transactions until a sales history is established.
• Currency Conversion: PayPal's currency conversion fees are generally higher than interbank rates. Use a service like Wise for better exchange rates.