What is Paypal Underwriting, why do businesses need to verify Paypal accounts?

PayPal Business Account Audits typically occur when PayPal wants to investigate potential issues with a Business/Individual account.

The assessment takes place so that PayPal can ensure the security and safety of the PayPal account, understand the nature of the business of the Enterprise, as well as how PayPal uses it to prevent potential risks such as fraud, money laundering, scams and protect PayPal's reputation as a reputable and trustworthy payment gateway in the world.

PayPal’s risk management and analytics team will conduct an audit of a Business account for a variety of reasons. GLA has found that the most common reasons for a PayPal audit include:

• The business has very large revenue, from tens to hundreds of thousands of USD/month.
• The business is seen as posing high risks to the parties involved in the transaction.
• The business has a large, sudden volume of transactions.
• The amount of money per transaction is huge and sudden.
• The transaction volume on the PayPal payment gateway exceeds a certain threshold.
• Large, sudden volume of money, refund transactions, and compensation (Refund, chargeback).

In this case, GLA will carefully research, check and review the Enterprise's account to advise the appropriate time for appraisal.

If the timing is right, GLA will guide and support the Business to prepare documents so that the PayPal account appraisal process goes smoothly and successfully.

Step 1: Enterprises will be consulted to establish a company in Singapore/Hong Kong/USA. GLA will support Enterprises with long-term business strategy consulting and full Singapore company opening service.

Step 2: GLA supports businesses in preparing documents that meet PayPal's appraisal standards.

Step 3: GLA will proceed to register a PayPal Business account for the company in Singapore according to the process.

Step 4: Conduct account verification. GLA will advise, guide, and support businesses with all necessary information and documents to successfully verify a corporate/personal PayPal account.

Benefits of performing Paypal account verification (Paypal Underwriting) include:

• Protect buyers and sellers from illegal, fraudulent, and deceptive business practices.
• Protect the reputation and credibility of the Business as a reputable, trustworthy and professional payment place.
• After appraisal, the Enterprise will limit risks from Paypal such as unexpected account closure or limited liquidity, helping to stabilize cash flow in business operations.
• Benefits of subscribing to Paypal premium services such as Paypal Pro, Reference, Transaction, etc.

In general, businesses should use Paypal for international payments and transactions for the following reasons:

• Transaction information is maximally protected, limiting the risk of hacking, fraud, and cheating.
• Paypal's management and refund policy brings many benefits to businesses.
• Protects your business's payment account information when doing international business, much better than Visa and Mastercard.

Depending on each Enterprise's business problem, GLA will support Enterprises with the most suitable services. GLA is willing to support Enterprises in registering for Wise accounts, Stripe accounts, opening bank accounts at digital banks (online banks), etc.

Contact GLA for detailed advice today!

For the appraisal process to go smoothly and quickly, Paypal requires the following information from the Business:

• Business license, company registration papers.
• Accounting records (income statement, balance sheet, cash flow statement, etc.)
• General information about business operations, company, operations, etc.
• Other information.