PayPal-Venmo Payouts Setup (part 1)

RefTown integrates with a PayPal service called Payouts. It allows immediate payments to PayPal or Venmo accounts through an official's email address or phone number. When making a payment, you do not need to know and do not care about which type of account it is going to...that all happens at PayPal / Venmo (both are owned by PayPal).

For more info on payouts, see https://www.paypal.com/us/smarthelp/article/what-is-the-payouts-api-and-how-do-i-enable-it-on-my-account-ts2075

There are several steps needed to set up a PayPal account to be used for PayPal Payouts.

To send payouts, you'll need:

1. A PayPal business account
2. A confirmed identity, email, and bank account linked to your PayPal business account
3. Access to PayPal Payouts
4. RefTown configured to use your PayPal Payouts
5. Sufficient funds preloaded in your PayPal business account

Detailed Steps:

1. Open a PayPal business account (if you do not already have one)
   • Signup for PayPal
     • https://www.paypal.com/bizsignup/#/checkAccount
   • Upgrade an existing account to a business account
     • https://www.paypal.com/mt/smarthelp/article/how-do-i-upgrade-from-a-premier-to-a-business-account-faq1317 
2. Link your bank account to the PayPal account
   • https://www.paypal.com/us/smarthelp/article/how-do-i-link-a-bank-account-to-my-paypal-account-faq686
3. Access to PayPal Payouts
   • After establishing the PayPal business account, you must apply to PayPal to have access to the Payouts feature
     1. Log into PayPal
     2. Click "Pay and Get Paid"
     3. Click "Payouts"
     4. Fill out the application and submit
     5. WAIT for PayPal Approval.
        • This may take up to 5-10 business days.

After getting approval from PayPal, you need to configure PayPal to allow access from RefTown.

• Instructions for Configuring your PayPal Account for RefTown
  •  https://www.reftown.com/kbp/index.php?View=entry&EntryID=249