Publish Date: Wednesday, April 21, 2004
Starting today all web hosting resellers of Resellers Panel can choose to receive their commissions through PayPal (www.paypal.com) officially. All resellers, who have a PayPal account and want to receive their commissions through PayPal instead of a check or bank transfer, should log into the Reseller Control Panel. From there they should go to Change Payment Details and choose PayPal from the drop-down menu. Then they should enter the e-mail they have used when registering for PayPal in the field below the drop-down menu.
Resellers, who want to receive their commissions for March 2004 through PayPal, instead of a check or bank transfer, should register the change no later than April 29, 2004.
This rule will apply to all payment method changes. All payment method changes, which are registered after 29th day of the current month, will be valid for the month after the next.
Here is an example to clarify this issue:
The web hosting reseller, John Doe, has to receive a reseller commission of $496.98 for June 2004. To the moment, he has received all his commissions by check. In other words, John Doe has chosen a check as the method to receive his commissions as a reseller. However, he suddenly decides that he wants to change the method by which he receives his commissions and wants to get his June commission by PayPal. The payment date for commissions for June 2004 is August 5, 2004. To be able to receive his commission of $496.98 through PayPal on August 5, 2004, John Doe has to change the payment method he chose from check to PayPal no later than July 29, 2004. If he registers this change on July 30, 2004 or any other date after July 29, 2004, his commission for June will be paid by check, instead of PayPal.
His commission for July 2004, however, will be paid through PayPal, because a change in the method of payment after the 29th day of the previous month will be valid for the next month.
From 29th day of the present month untill 6th day of the next month, the current payment method cannot be changed.
This is meaning of restriction for the change in the method of commission payment by the 29th day of the month prior to the month when the commission is actually paid. This rule should be easy to understand, because we pay commissions some 30 days after the end of the period when they were earned, practically payments are made about 32-35 days after the end of the period.
Resellers from the following 38 countries can open a PayPal account:
Anguilla, Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Costa Rica, Denmark, Dominican Republic, Finland, France, Germany, Greece, Hong Kong, Iceland, India, Ireland, Israel, Italy, Jamaica, Japan, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Portugal, Singapore, South Korea, Spain, Sweden, Switzerland, Taiwan, United Kingdom, United States
Here are some facts about PayPal:
The citizens of 38 countries can open PayPal accounts.
PayPal has over 40 million members.
Every day more than 50,000 new members register for a PayPal account.
One in every three US online shoppers has a PayPal account.
Over 42,000 web stores use PayPal for online payments. Actually this number probably considerably higher than 42,000, because this is just the number of those, which have officially registered as PayPal Shops. For example, Resellers Panel is not registered as a PayPal Shop on PayPal.com.
Even if they do not have a credit card, customers who use PayPal can shop online easily, conveniently and safely.
They can pay through their bank account of through the balance of their PayPal account.
Last but not least, it should be noted that the level of security and protection from fraud activities provided by PayPal is considerably higher than that of the other billing companies:
- PayPal is the only online payment service that offers a Seller Protection Program, which gives 100% protection from chargebacks on qualified transactions.
- Loss rates due to fraud are 60-70% lower with PayPal than with merchant accounts.
- Because of PayPal's world-class fraud prevention systems and techniques, PayPal's average dispute rate is 4 to 6 times lower than the rate for other online credit card transactions.
For more information, please visit PayPal's website - www.paypal.com.
