ProPay Vs. PayPal
PayPal is a popular method of making and receiving payments over the Internet. ProPay is an alternative to PayPal that also allows you to send and receive money over the Internet. ProPay offers similar benefits to PayPal and allows account holders to accept credit or debit cards online without opening a merchant account.
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PayPal
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PayPal allows you to send and receive online payments when selling or buying products or services. Many commercial websites accept payments through PayPal, and PayPal is an effective and secure method for making payments over the Internet. To benefit from PayPal’s services, you will need to register as a user and sign up for a free account. During the registration process, you will link your PayPal account to your bank account or credit card. Transferring money between your PayPal account and bank account does not create any fees, and PayPal automatically withdraws money from your bank account or credit card to pay for your online transactions.
Online Payments
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Many merchants on the Internet do not accept cash payments, money orders or checks for payment of online purchases. ProPay and PayPal allow online merchants to process payments for purchases made online. Alternatively, an online merchant can open a merchant account. A merchant account is a type of account offered by a financial institution that accepts credit cards both physically and electronically. Merchant accounts typically cost more money than PayPal or ProPay and require the online business to qualify for the account.
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ProPay
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ProPay allows you to accept payments from around the world. This service also allows you to make payments to other people and businesses. ProPay offers four different plans -- ProPay Basic, Premium, Premium Plus and Platinum. ProPay charges an annual fee based on the account type you select. ProPay offers sellers a Buyers button for your website that allows you to accept payments directly. Additionally, ProPay offers you a debit card that you can use to withdraw deposited funds. Alternatively, you can transfer the money directly into your bank account. ProPay promises to never freeze your funds.
Considerations
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PayPal charges a fee to the recipient of the funds but paying for goods and services does not incur any charge. ProPay, conversely, requires you to pay an annual fee. Both PayPal and ProPay represent secure online payment options. Ultimately, you should consider the total cost and your reason for wanting an online payment service when choosing between PayPal and ProPay.
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