New: PayPal Business Payments – $0.50 flat fee online payments
PayPal Business Payments is a PayPal pilot program for businesses only in the United States.
One of the biggest pain points of getting paid for your invoices is waiting for a paper check in the mail. Online payments with a credit card have proven to be a way to get paid faster, but for large invoices, the discount rate can be a hefty cost. Now, you have another option, PayPal Business Payments, which costs $0.50 per transaction (this is PayPal’s pilot pricing and may change down the road).
PayPal Business Payments enables you to collect online payments for a FLAT FEE, instead of a percentage. This is a much more cost-effective option for any invoice (to a maximum of $10,000). For example, on a $5000 invoice, it would cost $150 in transaction fees with a credit card. Now, that’s just $0.50! FreshBooks has been waiting for it since our inception in 2003. Finally, we’re closer to saying goodbye to the paper check.
PayPal Business Payments allows your clients to pay using an eCheck or PayPal balance from their verified PayPal account. Your client is not able to use a credit card if you use PayPal Business Payments, so if this is their preferred option, you need to toggle your invoice to use PayPal Standard instead (on the edit invoice screen).
Get Started with PayPal Business Payments
- Create a PayPal Standard account. Already have one? Even better.
- Log in to your FreshBooks account.
- Go to your “Settings”, and then “Online Payments”.
- Select “PayPal Standard” and enter your PayPal email.
- Create a new invoice.
- Under “Try Something New From PayPal”, select “Collect payment with PayPal Business Payments for a $0.50 flat fee.”
- Click “Save”
- Invoice Away!
- Quickly get paid by your clients online.
Now, when your client receives the invoice, there will be an option above the invoice to Pay with PayPal. They will then be prompted to sign in with PayPal to pay the invoice using PayPal Business Payments.
If you’re debating whether PayPal Business Payments will work for your business, please consider:
After you’ve sent one invoice with PayPal Business Payments, you’ll see the option for PayPal Standard or PayPal Business Payments when creating your next invoice. You can also turn off PayPal if desired.
To use PayPal Business Payments with your clients, please be aware of the following:
- Your company address must have the USA as country (in Settings)
- The client you are invoicing must be in the USA
- Only for invoices in the currency USD
- You have to choose EITHER PayPal Business Payments for a flat fee OR full PayPal wallet payments (including credit cards) for a percentage fee
- Your clients must have a verified PayPal account (or will need to create one)
If you have any questions please call us at 1 866 303 6061 or email FreshBooks Support.