The PayPal Business app (com.paypal.merchant.client) is a convenient and essential tool for android users who run their own businesses that wish to keep track of their sales, analyze transactions, and manage their finances with ease. The app is free and available for download from the Google Play Store. The following is an in-depth review of what the app offers and its pros and cons.
Features
Sales tracking
The app offers a dedicated section for tracking your business transactions. You can quickly review your sales and account balance within seconds. The feature enables you to monitor online payments, incoming cash flow, and outgoing expenses effortlessly. You can view sales based on different timelines, such as daily, weekly, or monthly.
Instant transactions
One of the significant advantages of the PayPal Business app is that it offers instant transactions. Once a payment has been made, it reflects immediately in your account balance, which allows you to manage your cash flow effectively. There are no delays or wait times for deposits, which can be crucial if you need urgent access to your funds.
Financial insights and reporting
The app provides useful financial insights on your business operations like sales volume, pending balances, and costs to help you make informed decisions. You can generate detailed reports of your sales data and share them in various formats with your team or accountant.
Inventory management
The app enables you to manage your inventory seamlessly. You can add and organize items or services with their respective prices and quantities. You can also track stock levels and set alerts for low availability products.
Pros
Convenience
The PayPal Business app offers convenience and accessibility, which can save precious time for business owners. You can quickly access your financial data at any given time and place, manage transactions, and deal with your inventory efficiently, all from your android device.
Security
The app is highly secure and reliable with features like 2-factor authentication, payment protection, and encryption of sensitive data. You can also remotely monitor and manage access to your account from multiple devices.
Effortless invoicing
The app simplifies invoicing for businesses, allowing you to create and send professional invoices instantly using customizable templates. You can also receive payments online from clients in real-time without any hassle.
Cons
High fees
The PayPal Business app has high transaction fees when compared to other mobile payment apps. It charges a percentage of the transaction amount plus an additional fixed fee per transaction. For larger businesses, these fees can add up and affect profit margins.
Payment delays
Sometimes, PayPal puts transactions on hold, which can delay funds' availability to business owners, affecting cash flow management. PayPal claims that it does so to protect against fraud or unauthorized transactions, but this can be frustrating for business owners who require urgent access to their funds.
Comparison
Other popular mobile payment apps like Square and Stripe offer similar features to the PayPal Business app. However, they charge lower transaction fees, which can be an essential factor for businesses that make many transactions. Additionally, Stripe offers instant withdraws, which means business owners can deposit their earnings within minutes of receiving them. Another advantage that Square has over PayPal is that it accepts NFC payments and offers a point-of-sale system.
Tips for using the app
Set up notifications to receive real-time updates on payments and transactions.
Create detailed reports of your sales and inventory data to identify popular products or services and make informed decisions.
Take advantage of the app's invoicing feature to send and receive payments online without the need for additional software or hardware.
Pay attention to fees charged to your account to avoid any unexpected charges on your profits.
Check for pending transactions regularly, and ensure all transactions are legitimate to avoid delays or holdups.
Conclusion
The PayPal Business app is an essential tool for business owners who want to keep track of their finances and transactions on the go. It has numerous features that simplify accounting, invoicing, and sales tracking. However, its high transaction fees and occasional payment delays can be disadvantageous to businesses that require quick access to their earnings. If you prioritize convenience, reliability, and strong security above transaction fees, then the PayPal Business app is an excellent choice for your small businesses.
Updated 04-17-2023
Overview
The PayPal Business app (com.paypal.merchant.client) is a convenient and essential tool for android users who run their own businesses that wish to keep track of their sales, analyze transactions, and manage their finances with ease. The app is free and available for download from the Google Play Store. The following is an in-depth review of what the app offers and its pros and cons.
Features
Sales tracking
The app offers a dedicated section for tracking your business transactions. You can quickly review your sales and account balance within seconds. The feature enables you to monitor online payments, incoming cash flow, and outgoing expenses effortlessly. You can view sales based on different timelines, such as daily, weekly, or monthly.
Instant transactions
One of the significant advantages of the PayPal Business app is that it offers instant transactions. Once a payment has been made, it reflects immediately in your account balance, which allows you to manage your cash flow effectively. There are no delays or wait times for deposits, which can be crucial if you need urgent access to your funds.
Financial insights and reporting
The app provides useful financial insights on your business operations like sales volume, pending balances, and costs to help you make informed decisions. You can generate detailed reports of your sales data and share them in various formats with your team or accountant.
Inventory management
The app enables you to manage your inventory seamlessly. You can add and organize items or services with their respective prices and quantities. You can also track stock levels and set alerts for low availability products.
Pros
Convenience
The PayPal Business app offers convenience and accessibility, which can save precious time for business owners. You can quickly access your financial data at any given time and place, manage transactions, and deal with your inventory efficiently, all from your android device.
Security
The app is highly secure and reliable with features like 2-factor authentication, payment protection, and encryption of sensitive data. You can also remotely monitor and manage access to your account from multiple devices.
Effortless invoicing
The app simplifies invoicing for businesses, allowing you to create and send professional invoices instantly using customizable templates. You can also receive payments online from clients in real-time without any hassle.
Cons
High fees
The PayPal Business app has high transaction fees when compared to other mobile payment apps. It charges a percentage of the transaction amount plus an additional fixed fee per transaction. For larger businesses, these fees can add up and affect profit margins.
Payment delays
Sometimes, PayPal puts transactions on hold, which can delay funds' availability to business owners, affecting cash flow management. PayPal claims that it does so to protect against fraud or unauthorized transactions, but this can be frustrating for business owners who require urgent access to their funds.
Comparison
Other popular mobile payment apps like Square and Stripe offer similar features to the PayPal Business app. However, they charge lower transaction fees, which can be an essential factor for businesses that make many transactions. Additionally, Stripe offers instant withdraws, which means business owners can deposit their earnings within minutes of receiving them. Another advantage that Square has over PayPal is that it accepts NFC payments and offers a point-of-sale system.
Tips for using the app
Conclusion
The PayPal Business app is an essential tool for business owners who want to keep track of their finances and transactions on the go. It has numerous features that simplify accounting, invoicing, and sales tracking. However, its high transaction fees and occasional payment delays can be disadvantageous to businesses that require quick access to their earnings. If you prioritize convenience, reliability, and strong security above transaction fees, then the PayPal Business app is an excellent choice for your small businesses.