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What is the difference between the Standard and Business options in PayPal?

Note This FAQ applies to users who have enabled the PayPal integration before June 30, 2023.

The differences between the two Payment Options are as follows:

PayPal Standard PayPal Business
Should I have a US based PayPal account? No Yes
How much will I be charged as transaction fees? % of the amount Flat fee of 50 cents
Should my customer have a PayPal account too? No Yes
Can my customer pay via credit card? Yes No
Will I receive the payment instantly? Yes May be delayed for eCheck payments
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