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When choosing a payment processor, merchants weigh PayPal, Stripe, Square, and traditional merchant accounts. Each has unique benefits. PayPal offers QR codes for easy payments and receipts. Its fees differ from merchant account fees. The $3,000 rule suggests using PayPal for smaller transactions due to its lower setup costs and simplicity. However, for larger volumes, merchant accounts might offer better rates. PayPal is globally popular among merchants.

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