PayPal Foreign Currency Acceptance Training Guide
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1 1 PayPal Foreign Currency Acceptance Training Guide Table of Contents PayPal Overview... 2 What is Different from Prior PayPal Payments... 2 How to Create a PayPal Account... 3 Foreign Currency Payments for Non-US Customers... 5 Foreign Currency Payment Account Settings... 5 Accepted Payment Methods... 6 Accepted Currencies... 6 Frequently Asked Questions (FAQ)...7
2 PayPal Overview 2 PayPal is a leading technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. As a payment platform, PayPal is both an e-wallet solution, as well as a payment method that allows for the direct link between bank accounts and payment cards and vendors. PayPal provides a safer and simpler ways for businesses of all sizes to accept payments from merchant websites, mobile devices and applications, and at offline retail locations through a wide range of payment solutions across our Payments Platform, including PayPal, PayPal Credit, Venmo and Braintree products. What s different from prior PayPal payments? Previously, customers were billed through PayPal in USD on the SoftLayer website. They couldn t see the exchange rate, nor could they confirm the invoice amount from the SoftLayer website. Going forward, customers will see the invoiced amount and the exchange rate for the transaction that will be applied to their transaction on their PayPal screen. The exchange rate will not result in additional charges to the customer s credit/debit card or bank account; as the foreign currency exchange will occur within PayPal and the card or account will only see the transaction appear in the customer s preferred currency that corresponds the account. Example: After the customer selects their PayPal payment source, they are sent to the SoftLayer confirmation page:
3 How to Create a PayPal Account If a customer does not have a PayPal account, but wishes to use PayPal to pay invoices, the customer would need to select PayPal as their payment method on the SoftLayer checkout page: 3 This will redirect the customer to a PayPal login page. On the login page, the customer would select the Create an Account button at the bottom of the page. The customer must first open his/her PayPal account with a valid debit/credit card. To create the account, the customer needs to select the Create a PayPal account button, again.
4 Next, fill in required information. 4 Confirm the information is correct: Proceed by pressing Continue. The transaction will be processed, and the customer will be sent to a SoftLayer confirmation screen.
5 Foreign Currency Payments for Non-US Customers PayPal is the recommended method of payment for foreign currency payments at SoftLayer. Through PayPal, customers can pay in their preferred currency, of the 26 global transaction currencies offered by PayPal, without incurring additional foreign exchange fees from financial institutions; provided the currency corresponds to the primary currency of the selected payment method. (Ex. EUR charge applied to a EUR-denominated bank account or credit/debit card account.) Foreign Currency Payment Account Settings To accommodate customers preferences to pay SoftLayer invoices in preferred non-usd, SoftLayer enlisted PayPal as a business partner to facilitate acceptance of foreign currency payments. To accomplish this, customers are required to adjust their settings in the following manner. 5 Log in to the PayPal website. Then select: My Account > Profile > My Money > Currency Balances If the desired primary currency doesn t appear, it can be added by selecting a new currency in the drop-down list circled below.
6 Once added, the new currency can be selected. Select the Make Primary button to make the new currency the primary currency for the user s account: 6 Accepted Payment Methods PayPal allows customers to link their accounts directly to their bank accounts and credit and debit cards. Initiating a payment through PayPal will prompt the customer to select the payment method that he or she would like charged, and execute the payment. Alternatively, as an e-wallet solution, PayPal also allows customers the ability to store account balances (via the above methods) in their PayPal accounts. This will allow the customer to directly use funds in his/her PayPal account to pay for purchases. Accepted Currencies Argentine Peso (ARS) Australian Dollar (AUD) Brazilian Real (BRL) Canadian Dollar (CAD) Czech Koruna (CZK) Danish Krone (DKK) Euro (EUR) Hong Kong Dollar (HKD) Hungarian Forint (HUF) Israeli Shekel (ILS) Japanese Yen (JPY) Malaysian Ringgit (MYR) Mexican Peso (MXN) New Zealand Dollar (NZD) Norwegian Krone (NOK) Philippine Peso (PHP) Polish Zloty (PLN) Russian Ruble (RUB) Singapore Dollar (SGD) Swedish Krona (SEK) Swiss Franc (CHE) Taiwan New Dollar (TWD) Thai Baht (THB) Turkish Lira (TRY) U.K. Pounds Sterling (GBP) U.S. Dollar (USD)
7 Frequently Asked Questions (FAQ) Q: Why do I have to enter a credit card number when I first set up service? A: The credit card number is needed to establish the account and allows SoftLayer to complete certain checks to verify the account and account holder. You can pay for services with PayPal once you are notified a balance is owed on your account. 7 Q: I entered a credit card number when I set up my account. How do I change to using PayPal for payment? A: You can change your payment method through your account management in the SoftLayer customer portal: control.softlayer.com. Q: Do I have to set up an account with PayPal to use them for paying SoftLayer? A: Yes. PayPal requires that you set up an account in order to process a payment using PayPal. Q: How is the foreign exchange rate set when I pay my bill? A: PayPal sets the exchange rates used to convert payments made on your account to U.S. dollars (USD). The rates are determined by prevailing market rates at the time of the payment transaction. All pricing and billing from SoftLayer will be in USD. Q: Can I have recurring payments made from my PayPal account? A: At this time, you cannot have recurring payment made automatically from your PayPal account. We hope to add this functionality soon. Q: Do I have to deposit funds to my PayPal account in order to make payments? A: You can hold balances in you PayPal account. Or you can link your account to a debit/credit card or a bank account and have funds withdrawn directly. Q: Does it cost me to use PayPal to pay SoftLayer? A: Registering an account with PayPal and making purchases is completely free of charge. For a full list of possible occurring fees please refer to the fee table in PayPal s End User terms and conditions. Q: What is the number to PayPal Customer Support? A: Customer Care for End Users Monday Friday 4am 10pm (PST) Saturday and Sunday 6am 8pm (PST)
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