First a Little Background About PayPal
One of the biggest reasons that PayPal is so well liked by people who buy things online is because it is the preferred payment method for eBay. This is because eBay bought PayPal and push the use of PayPal on their auction website. This creates a win – win for eBay, because they make a percentage of the sell price + fees for each auction and they make another percentage + fees for the payment processing transaction. I call this double dipping, but who can argue with the Internet giant?
There is also protection of your personal information by using PayPal. When a buyer pays through PayPal, they do not need to give their credit card information. When buying digital products online that are downloaded, then the buyer does not even need to give their address or phone number. You can see why more people trust using PayPal for payment processing.
Read The Fine Print
There are few cautions with using PayPal for all of your online business. Read the fine print in the agreement that you make when you create a PayPal account. If they decide that you are doing something suspicious online, then they can put a freeze on your account and you can not use it to make sales or withdraw your money. There are horror stories all over the Internet about people that have had tens of thousands of dollars in their account when PayPal decided to put the freeze on it. It is PayPal that decides if your activities are suspicious and they do not need any proof or legal cause to put the freeze on your account.
Make Money Online Using PayPal
The first thing that most people think of is eBay, because many people have made a large amount of money through eBay. Some people even make a very comfortable living with just their eBay sales. As stated above PayPal and eBay go hand in hand, and eBay makes it very easy to use PayPal for your payment processing. You can sell all sorts of items through eBay. Look through your garage, attic or other storage areas to find things that you no longer use or no longer want. One person’s junk is another person’s treasure! One of the biggest sellers is antiques and other collectibles.
You can scout out flea markets, yard sales, garage sales, or auctions to find items that may sell good on eBay. You can use resources on eBay’s website to help find items that will sell. pages.ebay.com/sellercentral/whatshot.html is a great tool to see what items are selling the most and for the highest prices. An often over looked resource is pages.ebay.com/wantitnow, where people post the items that they are looking for. How much easier can it get, people tell you what they are looking to buy! If you have the item they are looking for, then you already have a potential buyer.
Many affiliate programs will make payment to you through PayPal. You could join affiliate programs and promote their products through special links that you get from the Affiliate Program website. When some one buys a product or service through your affiliate link, then you will receive a percentage of the sale as commission for the sale.
You can also use PayPal to process payments on your own website. You can create “Buy Now” Buttons through the Pay Pal website and then copy the code for the buttons on your website. This way when a visitor comes to your sales page, then they can make a purchase by clicking on the button and PayPal will take care of all the processing. This is a good way to sell a few items online without using a shopping cart. If you have many products or services to sell, then you may need to use a shopping cart on your website to handle the purchase, and you can still use PayPal for the payment processing.
There is an open source Content Management System (CMS) that you can download and use for free called Joomla. http://www.joomla.org There are many types of plug-ins that you can also download and use for free that will add features to your website. One plug-in in particular will add a shopping cart system to your Joomla based website and it is called VirtueMart http://www.virtuemart.org This is a fairly easy system to set up and add products to your online store front. You can set up payment processing through PayPal and a few other common payment processing companies.
As you can see it is easy to make money online using PayPal.