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Which PayPal E-Commerce Checkout Service Should You Use?

Last updated: January 09, 2023Leave a Comment

paypal_logo

Note: If you have any questions after reading this and the several other articles relating to PayPal on this site, please leave a comment or contact PayPal directly. Unfortunately due to time constraints I am unable to offer any advice over email so all emails related to PayPal will remain unanswered.

All e-commerce solutions such as Shopify, WooCommerce, and Easy Digital Downloads will allow you to select one of out of several e-commerce checkout business solutions offered by PayPal.

The choice is between the following:

  • PayPal Website Payments Standard
  • PayPal Express Checkout
  • PayPal Payments Pro

Understanding which checkout service to use can be quite complicated as the PayPal documentation is not exactly thuser-friendlyriendly, so let’s try to demystify things a little bit here.

PayPal Website Payments Standard

If you use PayPal Website Payments Standard, when your customers check out, they will be directed to a page that allows them to log into their PayPal account or pay by credit card without having to sign up for a PayPal account. This is the best option if you anticipate that most of your customers will not want to sign up for a PayPal account.

It is the most common type of PayPal checkout used and it is available in many more countries than the other two options we are considering here.

PayPal Express Checkout

If you use PayPal Express Checkout, when your customers check out, they will be directed to a page that requires them to log into their PayPal account or create a new one. Therefore, this is the best option if you anticipate that most of your customers either have a PayPal account or will sign up for an account on checkout.

PayPal sees Express Checkout as a payment option that’s offered in addition to other payment choices such as a credit card gateway, and that adding Express is a way to allow PayPal members a very quick and easy way to pay using their PayPal account. PayPal also believes Express Checkout improves conversions/sales.

PayPal Express is available to merchants in the following countries: Australia, Austria, Belgium, Brazil, Canada, China, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Netherlands, Norway, Poland, Spain, Sweden, Switzerland, Turkey, the United Kingdom or the United States.

PayPal Payments Pro

PayPal Payments Pro is a customizable solution that enables merchants to keep buyers on their website during the entire checkout and payment process. Merchants can host their own customized checkout pages and send transactions to PayPal, or they can have PayPal host the checkout pages and also manage security for sales and authorizations. PayPal Payments Pro can accept Paypal and PayPal credit payments, as well as credit and debit card payments. PayPal Payments Pro also includes an optimized mobile checkout experience.

PayPal Payments Pro is only available to merchants in the following countries: United States, Canada, United Kingdom. A monthly service charge applies, and there is an account application process and credit check to complete before the feature can be activated on your account.  PayPal Express Checkout must be enabled in order for Website Payments Pro to be offered on your site.

PayPal sees Website Payments Pro as a payment gateway for handling credit cards. That’s exactly what it is. Coupled with Express Checkout, it gives your customers the maximum amount of choice about how to pay: either by credit card directly on your site, or by using their PayPal account to submit payment.

Note: if using PayPal Payments Pro to process credit cards, you must have an SSL certificate.

Conclusion

If you’re still confused or not sure which product to go for, just start off with PayPal Website Payments Standard. Most e-commerce solutions include this by default and it is the easiest to set up. Moreover the other two options might not be available to you, depending on where your business is based.

PayPal Website Payments Standard allows users the choice of signing in or not signing in, and can be considered the default choice; PayPal Express Checkout can be more efficient for PayPal users and may facilitate sales.

It may depend on whether or not you also have a credit card processing option; if you do, you can use PayPal Express Checkout, since the customer will only need to use this option to pay with PayPal funds.

If PayPal is your only payment method, you may want to use PayPal Website Payments Standard so that your customers have the option of using a credit card.

Whichever option you choose, keep in mind that your e-commerce system will probably have its own documentation guiding you on how to set up each of these PayPal solutions, so it shouldn’t be a big issue getting either one set up.

  1. Are You Losing out from PayPal’s Exchange Rates?
  2. 🤔 Which PayPal Account is Best for You?
  3. 💸 Changing Your PayPal Withdrawal Currency
  4. 💸 Understanding PayPal Cross Border Fees
  5. How to Withdraw From PayPal into a Maltese Bank Account
  6. 💳 Withdrawing Money From PayPal for Non-US Accounts
  7. Which PayPal E-Commerce Checkout Service Should You Use?
  8. 🤔 Should You Open Separate PayPal Accounts for Each of Your E-Commerce Stores?
  9. 🆚 PayPal VS Wise Borderless
  10. 💳 Linking Virtual Bank Accounts and Cards to PayPal (Revolut, Wise etc)
  11. How to Change Ownership of a PayPal Account

Filed under: Payment Processors

Dealing with the Shiny Object Syndrome

Last updated: September 26, 2022Leave a Comment

shinyobjectcat

Like many other entrepreneurs, I suffer from the shiny object syndrome.

That’s a fancy phrase to describe the excitement I feel on a daily basis as I encounter stuff that I’d love to own, places I’d like to visit, and business ideas I’d like to pursue.

When I was younger and reading for my university degrees, this wasn’t so much of a problem. I could read about a lot of stuff and maybe try new things out here and there, but I had a clear objective every year: pass my exams and graduate to the next year of my course.

As I grew older and started my own business, I also achieved the freedom to work on whatever I want, wherever I want, and whenever I want. That sounds great on paper, but it also means that I have to take clear decisions on the what, where and when.

That’s when the shiny object syndrome can prove to be a huge distraction that has the ability to paralyze even the best entrepreneurs and lead to them only achieving modest success in life when they could have achieved much more.

I have to fight this sense of paralysis every single day as I can’t help myself from getting attracted to many subjects out there. It could be a simple email newsletter from an airline announcing some new destinations that leads to me dreaming for an hour or more about said destinations and planning my next trip. With no real barriers to me visiting those destinations, the urge to indulge in this daydreaming is high.

I could mention a thousand other examples. For example, in business, having a WordPress plugin development business leads to me coming across many small niches that could be catered for by a new business plugin. Perhaps there is already a plugin that I use for some purpose and it sucks, and I can easily see how I can improve on it. It doesn’t take much for me to start planning out a way to conquer that niche, leading to a few more wasted hours.

The shiny object syndrome as you can see can lead to a monumental waste of time as well as a depressed state of mind at the end of the day/month/year when I realise how much time I spent investigating different directions I could take but not having gone down any of those paths.

As I said, I still fight this syndrome on a daily basis, and this is just me sharing one of the things in life that I find most challenging, so I’d love to know from others who feel the same way as I do and how they handle it. On my part, I like to think that I’ve become a bit better at handling shiny objects.

Shiny Object Syndrome Antidotes

The most important change in my behavior has been my use of a virtual buffer zone. Let me explain by giving you a few examples.

Books

I come across many interesting books that simply scream out to me and beg to be read, be it at the local bookstore, library, or recommendations from friends and peers. Rather than order them all and then get depressed due to owning a large number of unread books, I now use Goodreads to create a to-read list that I can then get back to when I’m finished with the current book or two that I have on my shelf.

Articles

Articles are another potential shiny object for me, so whenever I come across a good article I’ll simply Pocket it. I will then get back to these articles during a commute or breakfast. That was I avoid getting distracted in my productive work hours. I also never end up reading all the articles, as things that looked amazing and irresistible have a funny way of becoming the plainest and most uninteresting things just a few hours later. Funny how our minds work.

Business Ideas

Being born with an entrepreneurial spirit and mind, I am quick to spot business opportunities. However it is impossible to act on every possible opportunity, although I’d love to do so. A good technique I’ve found is to keep a list for each month containing a number of items  I want to do for that month. The first two items are the two epics (the most important achievements) for that month.

They usually are the more meaty tasks that will take some time and concentration to complete. Every feasible business idea that I get first gets listed in a list of business ideas, and at the end of each month I will evaluate the current state of things and if I want to proceed with any of the ideas in the list I’ll see where I can fit them in on the monthly calendar. You can use Trello, Workflowy, or even have a manual whiteboard process for this.

That’s about it, some insights on how I deal with the shiny object syndrome. Would love to know your experiences and thoughts on this subject.

Filed under: Thoughts & Experiences

💳 Withdrawing Money From PayPal for Non-US Accounts

Last updated: February 15, 2023256 Comments

paypal_logo

As discussed in previous posts, once you’re using PayPal to sell your stuff online, you will also want to eventually withdraw the money you make into your bank account so that you can actually use it. Here’s where things get a bit nasty, unfortunately.

If you have a US bank account and a US PayPal account, you can stop reading right here. You’re in luck. All you have to do is attach your bank account to your PayPal account and withdraw USD from your PayPal account to your bank account. There are no currency conversions to worry about, and the transfer itself is free from PayPal’s side.

If you are the owner of a non-US PayPal account and you don’t have a US bank account, things are not so pretty.

You are given two options (depending on your home country, it might even be just one option):

  1. Withdraw to a debit or credit card
  2. Withdraw to your local bank account.

If you sell online you probably use USD as the main currency on your store and hence your PayPal balance will be in USD. What happens is that since your local credit card or bank account are not in USD, an automatic currency conversion takes place on PayPal’s end as the money is on the way out. The conversion rates are bad, to put it mildly. Hence you’re going to lose a lot of money on that conversion.

Withdrawing your funds from PayPal to a debit or credit card can be annoying if you have significant funds. The reason is that you can only withdraw up to $2,500 at one go, and every time you make a withdrawal you are charged $2,50.

So let’s say you need to withdraw $50,000. You will need to go through the withdrawal process 20 times for a total cost of $60. This sounds ridiculous; a time-wasting activity and also a money-grab by PayPal. It is, there’s no other way of looking at it.

The other way of withdrawing is to send the funds directly to your bank account. There are no limits when compared to withdrawing to a card. Sounds like we solved our problem right?

Well, not so fast.

If your bank account is in a different currency than the funds you have stored on PayPal, be prepared to lose a significant amount of money due to PayPal’s horrible exchange rates. PayPal does not let you send, say, USD directly to a EUR-denominated account. This is a limitation on their end, and I suspect an intentional one to fleece their users. There are no such limitations when using other payment gateways such as 2Checkout.

[Read more…]

  1. Are You Losing out from PayPal’s Exchange Rates?
  2. 🤔 Which PayPal Account is Best for You?
  3. 💸 Changing Your PayPal Withdrawal Currency
  4. 💸 Understanding PayPal Cross Border Fees
  5. How to Withdraw From PayPal into a Maltese Bank Account
  6. 💳 Withdrawing Money From PayPal for Non-US Accounts
  7. Which PayPal E-Commerce Checkout Service Should You Use?
  8. 🤔 Should You Open Separate PayPal Accounts for Each of Your E-Commerce Stores?
  9. 🆚 PayPal VS Wise Borderless
  10. 💳 Linking Virtual Bank Accounts and Cards to PayPal (Revolut, Wise etc)
  11. How to Change Ownership of a PayPal Account

Filed under: Banking, Money

How to Withdraw From PayPal into a Maltese Bank Account

Last updated: January 10, 202320 Comments

paypal_logo

Note that in April 2020 things seem to have changed on PayPal’s end and they now allow adding a USD bank account based in Malta as well as permit a higher limit on debit card transfers, although I’m not sure what the new limit is.

In a recent development PayPal has implemented bank account withdrawals to people holding a PayPal account based in Malta. Prior to this development, the only possibilities for withdrawing money were the following:

  • Withdrawing to a credit card
  • Withdrawing to a US bank account

The big problem with withdrawing to a credit card is that it is limited to $2,500 at a time so it is very inconvenient for high volume sellers. Moreover there is a charge per withdrawal, so the fees quickly escalate.

PayPal’s automatic currency conversions (at disadvantageous rates) when withdrawing are another big issue. You’ll find many sites dedicated to PayPal-bashing because of this.

Since in Malta you cannot get a credit card for an account denominated in US dollars, sellers are stuck with automatic currency conversions (either on the PayPal side, or their own bank) from USD to EUR when withdrawing money to their credit card. Of course, I’m assuming that sales are being done in USD. Since the dollar is the de facto web currency, this is the case for most online shops.

With this new development I was hoping to open a USD bank account in Malta and withdraw USD from PayPal into this bank account, thus avoiding currency conversion altogether.

In my ideal scenario I would have then been able convert the money at will and possibly even bypass the bank’s charges by using Wise. Alas, this was not to be. After further questioning, the PayPal support agent informed me that the automatic currency conversion would still happen and they do not allow non-Euro denominated bank accounts from Malta to be linked to a Maltese user’s profile:

Do bear in mind that we would only offer the option to use an EUR denominated bank account at this time.  Which means that even if you add and use an USD based account, that it would automatically have funds converted to EUR upon withdraw.

For that specific matter, I cannot really recommend the use of an USD account, as you are not able to directly withdraw into it without otherwise having a double conversion take place.

So given the situation I’ll probably stick to withdrawing money to my card as with that method I can bypass the automatic currency conversion on PayPal’s side.

[Read more…]

  1. Are You Losing out from PayPal’s Exchange Rates?
  2. 🤔 Which PayPal Account is Best for You?
  3. 💸 Changing Your PayPal Withdrawal Currency
  4. 💸 Understanding PayPal Cross Border Fees
  5. How to Withdraw From PayPal into a Maltese Bank Account
  6. 💳 Withdrawing Money From PayPal for Non-US Accounts
  7. Which PayPal E-Commerce Checkout Service Should You Use?
  8. 🤔 Should You Open Separate PayPal Accounts for Each of Your E-Commerce Stores?
  9. 🆚 PayPal VS Wise Borderless
  10. 💳 Linking Virtual Bank Accounts and Cards to PayPal (Revolut, Wise etc)
  11. How to Change Ownership of a PayPal Account

Filed under: Money, Payment Processors

Should You Stop Using Facebook?

Last updated: July 30, 202310 Comments

facebook headquarters sign

Update January 2023 – I’ve also stopped actively using Twitter (removed app on my phone) and Instagram. I was never very active on Instagram, but whenever I did happen to open the app I found it extremely addictive and invariably brought me down, as it highlighted all the amazing lifestyles everyone seems to be having and gave me major FOMO. So I created a new Instagram account just for my own art, where I only follow artists that exclusively post art, which I in turn use as inspiration. I also love to connect with artists and this is a good tool to connect.

I am also very active in my own community (The Good Life Collective) as well as other select communities I’m in.

Update January 2021 – I highly recommend reading this and this. I also found the documentary movie The Social Dilemma to be an excellent portrayal of the dangers and damage of social media.

Update March 2017 – I have now stopped using Facebook in any meaningful way. I still have my profile active, so I haven’t technically closed the account, however, I no longer use the platform and indeed have it blocked on all my devices using Freedom.to. If you want to block it without using Freedom, you can have a look at this post. I also stopped using LinkedIn.

After one month of taking this decision, I feel great and I don’t plan on going back. First of all, I’ve gained 30 minutes to 1 hour daily. This does not only take into account direct time checking out stuff on Facebook, but also the switching cost of going from productive work to checking Facebook and back. That’s up to 7 hours per week gained, which is absolutely awesome.

Secondly, I don’t compare my life to others as much. I’m not one who typically does that, but looking at all the photos and videos of other people is directly aimed at provoking such feelings, and it does take its toll in the end.

Thirdly, I have stopped oversharing and going into petty arguments with people online. There is no point really in sharing small random thoughts or photos on Facebook, at least not to me. I found that it promotes a culture of fast consumption, where the urge to post is almost a reflex action as soon as I get served a great plate at a restaurant, hear a nice quote, or visit some place with incredible views. Now I can just enjoy the moment and focus on sharing it with whoever is present with me, because that is what really matters. This slow living style has also helped me think about things in a deeper way, and consequently post in long form on my blog rather than post shallow statuses on Facebook.


Every once in a while I hear of someone who has decided to exile himself from Facebook by closing off his account. I also know a few others who have never joined.

Myself? I’ve been a Facebook user since the very early days, having joined in 2006. That makes it 10 years of Facebook usage, yay!

When I hear that someone has left Facebook I almost always stop to think about it. A little rebel spirit inside me urges me to consider doing the same. We all know that Facebook is the biggest enemy of productivity don’t we?

Well, is it really?

I’ll be the first to admit that yes, at times I have spent way more time on Facebook than I should have. The problem wasn’t Facebook itself though, it was something deeper than that. As I have grown to be more organised and productive in general, the “spending too much time on Facebook” problem seemed to slowly fade away. I therefore came to understand that the real problem had been a lack of time management and also a lack of motivation to do the task at hand.

This year I am making a concerted effort to outsource those parts of my job which tend to bore me or slow me down, hence increasing the chances of me procrastinating and finding outlets like Facebook to entertain myself instead of doing that dreaded piece of work.

If we discount the typical problem of Facebook being a huge time sucker, the next thing to consider is whether this social network is of any value at all. Am I just part of the people watching herd? Do I use it for learning random useless tidbits on other people’s lives?

Turns out that no, I actually use Facebook for some very useful purposes.

[Read more…]

Filed under: Thoughts & Experiences

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Jean Galea

Investor | Dad | Global Citizen | Athlete

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