PayPal Pro Account for Singapore Companies

Nowadays, the international transaction needs of businesses are increasingly diverse. Therefore, payment service providers are increasingly providing more services to suit those needs. The two giants in the electronic payment industry, PayPal and Stripe, are of course not out of this game. One of the services that many businesses are interested in is PayPal Pro, which is a special service for "VIP" PayPal Business accounts.

In this article, GLA will provide an overview of the concept and features of PayPal Pro service.

1. What is PayPal?

PayPal payment gateway, PayPal payment account, etc. are terms that have long been familiar to any business that needs electronic payments. Established in 1999, PayPal is one of the pioneers in this industry. To meet the needs of users, especially international companies, PayPal provides many new services and specialized features.

PayPal has 2 main types of accounts as follows:

• Personal PayPal: this is an account type that anyone can register for, however, personal PayPal has certain limitations such as: low transaction limit; account is easily closed when PayPal users sell goods against regulations; etc. When a personal PayPal account is closed, it is very difficult to successfully complain and "remove" it. 

• PayPal Business: This is an account type for businesses that conduct international transactions, especially e-commerce and software businesses. However, the registration and verification process for a PayPal Business account includes more steps. Maintaining a stable PayPal account is also a difficult problem for many businesses.

2. PayPal Pro Service for PayPal Business Accounts

PayPal Pro is a special service for PayPal VIP accounts, which are accounts with large transaction volumes and have been assessed and gone through many rounds of verification (For advice and support to check whether the account you are using meets the standards to be upgraded to a "VIP" Paypal Business account, contact GLA immediately for details). PayPal Pro gives businesses many competitive advantages when trading internationally.

The main advantages of the PayPal Pro service include:

• Shoppers can make payments directly with debit/credit cards to PayPal Pro accounts right on the Store. Shoppers do not need a PayPal account to make payments.

• Transaction limits and money receiving/transferring limits are much higher than regular PayPal accounts.

• Short waiting time to receive payment, especially for high trust accounts. 

However, PayPal Pro currently does not support companies in Vietnam. Therefore, to register for PayPal Pro service, businesses need to establish a legal entity in Singapore (or in European countries, the US, etc.) to register for a PayPal Business "VIP" account and register for PayPal Pro service. Businesses can learn about Company formation process in Singapore via sharing from GLA.

3. Compare PayPal Pro and PayPal Business

As mentioned, PayPal Pro is a special service for PayPal Business VIP accounts to help customers pay for e-commerce, technology, and software businesses more conveniently and quickly. Therefore, PayPal Pro will have all the features of PayPal Business and "upgrade" some features as follows:  

Compare a regular PayPal Business account and a PayPal Business VIP account that has successfully registered for PayPal Pro service.

4. Process of registering for a PayPal Business account, upgrading to VIP, registering for PayPal Pro service 

Step 01: Company formation in Singapore (in case the enterprise does not have a legal entity in Singapore).

Step 02: Register for a PayPal Business account for your company in Singapore.

GLA will advise businesses to do this step correctly. If businesses need special advice because they have had many problems with PayPal before, GLA will also advise on strategies to open a standard PayPal account to avoid being locked in the future.  

Step 03: Contact PayPal Singapore to verify your PayPal Business account.

PayPal Singapore will send a registration form and related questions to verify the business activities of the enterprise. If the enterprise does the Appraisal for PayPal account, the number of these questions is a lot. GLA will guide the enterprise to fill out the application, submit documents, check the application, etc. to make the application as standard as possible, helping to limit errors and save time significantly in making the application. 

Step 04: After the registration form and information are clear, the PayPal Business account will be successfully registered for PayPal Pro service. At this time, GLA will guide you on how to operate the PayPal account to avoid future limits, and how to safely increase the account transaction volume. 

In general, opening an account, registering for authentication and maintaining PayPal Business and PayPal Pro (Singapore) is relatively complicated and requires absolutely accurate information. GLA's strength is providing a complete service package, helping businesses operate stably and focus on business (in case your business fulfills its commitment to GLA and does not violate PayPal's policies). 

The PayPal GLA consulting team has staff who have studied and worked for a long time in Singapore and Vietnam; have extensive relationships, understand the requirements of the Singapore side and the specific working style of Vietnamese companies. The PayPal GLA consulting team will work directly with the PayPal Singapore office to support customers quickly, limiting the time the customer's PayPal account is limited.

5. How will GLA help you open a PayPal Pro account?

GLA, with extensive experience and reputable, reliable service quality, consulting on company establishment in the US, Canada, Hong Kong, Singapore, offshore, will support businesses:

• PayPal account opening strategy consulting, PayPal Business, remove liquidity limits (Limits), Underwriting;
• Upgrade account PayPal Business VIP, sign up for PayPal Pro, sign up for premium services.
• Support in managing and maintaining PayPal accounts, guiding in resolving disputes, optimizing international money transfers.
• Support businesses to register, open, and authenticate international payment accounts such as PayPal, Stripe, etc.
• Support businesses to register, open, and authenticate physical bank accounts and online banking accounts at financial centers in Singapore and the US.

6. Frequently asked questions when businesses register for a PayPal business account

Highlights

• PayPal Pro is a special service for PayPal Business VIP accounts, supporting more efficient international payments, allowing buyers to pay directly by card without a PayPal account, with high transaction limits and fast payment receipt times.
• PayPal Pro is only available to PayPal Business VIP accounts after passing the verification steps. Businesses need to establish a legal entity in Singapore or supported countries to register.
• PayPal Pro has advanced features such as flexible payment process design, direct card payment support, higher transaction limits, suitable for e-commerce businesses.
• To register for PayPal Pro, GLA will assist you in setting up a company in Singapore, Hong Kong, USA, registering for a PayPal Business account, conducting risk assessment, and completing PayPal Pro registration.