PayPal for ecommerce sites review
A simple and convenient way for your ecommerce business to receive payments in 24 currencies.
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
- Good for a wide range of currencies and ease-of-use.
- Beware relatively steep currency conversion fees and a confusing fee structure.
How does PayPal work for ecommerce businesses?
PayPal is best known as a global online payments system. While you can integrate PayPal with your website to accept payment from customers, you can also use the platform to get your funds back to Australia when you're selling overseas.
When you open a PayPal business account, it essentially functions as a multi-currency account. This means you can receive payment in more than 200 countries and 24 currencies, and give customers the peace of mind and security of paying in their local currency. You can then convert foreign currency back into Australian dollars in your PayPal account whenever you want, before withdrawing those funds to your linked business bank account.
PayPal accepts the following currencies:
- AUD Australian dollar
- BRL Brazilian real
- CAD Canadian dollar
- CZK Czech Koruna
- DKK Danish krone
- EUR euro
- GBP UK pounds sterling
- HKD Hong Kong dollar
- HUF Hungarian forint
- ILS Israeli shekel
- JPY Japanese yen
- MYR Malaysian ringgit
- MXN Mexican peso
- NZD New Zealand dollar
- NOK Norwegian krone
- PHP Philippine peso
- PLN Polish zloty
- RUB Russian ruble
- SGD Singapore dollar
- SEK Swedish krona
- CHF Swiss franc
- TWD Taiwan new dollar
- THB Thai baht
- USD US dollar
You can manage your PayPal business account online or via the PayPal Business app.
What are PayPal's fees?
PayPal's fee structure is quite complicated and difficult to understand. While there are no set-up fees or account fees, PayPal does charge a currency conversion fee when you receive payment in a foreign currency. When you want to withdraw funds into your linked bank account, PayPal converts those funds into Australian dollars at 2.5% above its base exchange rate.
It's also worth pointing out that PayPal charges fees when you receive payment into your PayPal account for goods sold. This fee can be anywhere from 1.75% to 4.6% (plus a small fixed fee) depending on the payment method used.
How do I set up a PayPal account for my ecommerce store?
You can open a PayPal business account by completing the following steps.
In a nutshell
- Simple set-up process. It's quick and easy to set up a PayPal account and start receiving payments.
- Convenient and easy to use. PayPal is a popular online payment method that shoppers all over the world are familiar with. It also makes it simple and straightforward to repatriate overseas sales revenue to Australian dollars.
- Supports a wide range of currencies. A PayPal account lets you accept payments in 24 currencies and over 200 markets around the world, and then convert funds back into AUD whenever you need.
- Currency conversion fees. PayPal's currency conversion fee of 2.5% increases the cost of converting foreign currency back into AUD.
- Confusing fee structure. PayPal's fee structure is quite complicated and can take a little while to wrap your head around.
How does PayPal compare to other online seller services?
Check out the table below to see how PayPal's features compare to those offered by other online seller accounts and services.
More guides on Finder
The best products to achieve the clean beauty look
From where the no-makeup makeup look meets the model off duty vibe, we've put together a range of no-fuss products you'll love.
Where to watch Moulin Rouge! online in Australia
Every man wanted her – 1 man dared to love her.
How to watch Man United vs Arsenal Premier League live and match preview
Manchester United are scrambling to stay in touch with the top 4 as they host Arsenal this week
12-day advent calendars you can still get before Christmas
From toys to socks to beauty items, these are the top 12-day advent calendars you can still enjoy in the lead up to Christmas.
McDonald’s (MCD) share price, company profile and news
Steps to owning and managing McDonald's shares from in Australia.
Reputation & Christmas parties: Why I won’t be having a festive celebration this year
Reputation + Christmas parties: could it be the potential volcano erupting leaving rands, families and individuals to deal with the fallout?
Pay-as-you-groan: On-demand insurance that pays you $2K for a broken arm
Insurtech Flip has shaken up the insurance industry by launching the first on-demand injury cover in the country.
How to invest in the Qualitas Limited IPO
Everything we know about the Qualitas Limited IPO, plus information on how to buy in.
How to invest in the WA1 Resources IPO
Everything we know about the WA1 Resources IPO, plus information on how to buy in.
Ask an Expert