Earning money from your website via PayPal business account is not a big deal. There are only a few steps that you have to follow in order to get it done successfully. You can earn money by setting up a PayPal business account on your web site and using PayPal’s APIs to receive payments from its users, who use their credit cards to purchase services and goods offered by you.

In order to setup PayPal business account, use the following steps:

Step 1: From the very first step when you sign-up for a new PayPal account, select the Business Account option in order to proceed with your registration. In case you have an already existing Personal Account in PayPal, click on Upgrade.

Step 2: In the next step, you will be required to enter your business name and select service type – Website or Mobile App. You can also provide a brief description of your services or products that you offer in order to complete this step successfully.

Step 3: Now click on Get Started button, which will redirect you to the Business Settings page in PayPal, where you will be required to provide your business name and address.

Step 4: In this step, enter your Contact Information and select the Country/region from the list of options. You also have to provide a phone number or email address in order to continue with your registration process successfully.

Step 5: After this, you have to provide your banking information, so that PayPal can verify your company. You will receive the verification code in the email address that you have provided in order to complete this step successfully.

Step 6: Now click on Confirm button and start working with your PayPal Business Account. Once you are done with all these steps, you can start accepting payments in leu of charging your customers. You can also make use of PayPal APIs in order to receive money from the users of PayPal on your web site or mobile app.

EBT stands for Electronic Benefits Transfer. The EBT system was designed to provide food assistance recipients with access to their benefits through the use of an electronic system, the EBT card. Retailers, farmers markets and Food Banks are able to process EBT transactions reliably because of this system.

SNAP is the Supplemental Nutrition Assistance Program. SNAP provides nutrition assistance benefits funded by the federal government to low-income households. These benefits come in the form of a credit, which families can use at approved retailers to purchase healthy food for themselves and their families.

What is an EBT processor?

An EBT processor is a company that processes transactions from an electronic benefit transfer card. EBT processors are typically contracted by retailers, food banks and farmers markets in order to process transactions.

Do I need an EBT processor?

If you are a retailer, farmer market or food bank processing SNAP or EBT transactions, then yes! You need an EBT Processor in order to process these benefits. Without an EBT processor, you can expect to have major problems accepting SNAP and EBT benefits.

How do I find an EBT Processor?

There are a variety of options for finding an EBT processor. You can contact your state’s Human Services Department or the USDA Food and Nutrition Service (FNS), as both of these agencies are responsible for overseeing the implementation of SNAP and EBT. We recommend checking out this great resource from FNS, it shows how to find an EBT Processor in your state.

Can I use any EBT processor?

You must have a contract with an approved EBT processor in order to process transactions. If you don’t, you will be fined for every transaction that was processed.

Can I use an EBT Processor if I am not a retailer?

You can! Any business or organization that wishes to process transactions is eligible to apply for an EBT Processor contract. You do not necessarily need to be a retailer, as farmers markets, food banks and other organizations have successfully been granted EBT Processor Contracts.

Can I process transactions if I’m not a US citizen?

You may be eligible to become an EBT Processor if you are not a US Citizen, as long as your processor contract is with SNAP or the USDA. You may even allow your employees that are not US citizens to process transactions. Your employees should be authorized by your EBT Processor Contract to conduct SNAP or other USDA benefit transactions.

What if I have an EBT processor that isn’t working?

If you are having problems sending or receiving benefits through your current EBT Processor, you can report this information directly to the FNS SNAP Hotline. The FNS will troubleshoot problems with your EBT Processor, or you can have them assign another processor to work with.

What if I need to cancel my contract with an EBT processor?

It should be possible to cancel your contract with an EBT Processor. Make sure you do this within the allowed time frame, or you could face fines.

Interchange fees are also known as interchange rates, interchange earnings or card association fees. They are levied for each transaction made with a payment card (credit/debit cards, prepaid cards, smart cards). The issuer (a bank) pays the acquirer (the company that processes the transactions) an “interchange fee” to cover costs and earn a margin.

Interchange fees and other card associations’ revenues and costs are defined in the card association’s agreement with its members, which is freely available to the public on their websites (MasterCard International Incorporated, Visa International Service Association). These fees usually range between 0.5% and 1.0%. The fee for each transaction will depend on factors such as:

• The type of card (credit, debit),
• Merchants’ sales volume and type of business (brick and mortar or e-commerce) and its geographical area,
• Transaction currency.

Interchange fees vary significantly from one card association to another (and sometimes between types of cards). For example in the US, the interchange fee for a debit card is typically significantly higher than that of a credit card (1.55% vs 0.95%). Some transactions are exempt from interchange fees (typically ATM cash withdrawals and payments at electric utilities). Interchange fees can be applied to purchase transactions, cash advances or balance transfers.

How do interchange fees impact merchants and their customers?

Merchants pay interchange fees to issuers for card transactions. The merchant’s bank (the acquirer) passes these costs to the merchant, who often tries to recover them by increasing prices – a practice known as “interchange fee escalation”. As a result, consumers also pay higher prices.

For example, consumers in the US have been paying higher prices since merchants passed on the fees they pay for accepting American Express credit cards to their customers – a practice known as “American Express Tax”. In Australia, merchants have also been passing on Visa and MasterCard interchange fees to their customers through so-called “service” or “checkout” fees.

Can merchants refuse to accept payment cards?

In some countries merchants can apply a surcharge to a card transaction if a consumer chooses to pay with a card. In others this is not allowed and merchant fees cannot be passed on to customers. Card associations and merchants need to agree on business rules and card acceptance fees before a merchant can start accepting cards. Merchants who refuse specific cards risk losing their right to accept them.

How do interchange fees impact consumers?

Interchange fees are an additional cost of paying with a credit or debit card for consumers. They are paid for by the merchant and ultimately passed on to all consumers through higher prices of goods and services, including those who pay with cash.

Interchange fees cost consumers in two ways:

• by increasing merchants’ prices for goods and services;
• and through the funding of rewards programs.

Merchants decide to include or not a rewards program in their offers, but providing them comes with an additional cost. Thus, free or cheap loans, travel insurance or car hire discounts offered as incentives to use a card come at a cost for consumers.

Mobile credit card processing is a way for small business owners to accept credit cards using their smartphone. There are two primary methods of mobile credit card processing: Swiped and keyed.

Swiped transactions occur when the customer physically swipes their credit or debit card through a device that plugs into a smartphone or tablet’s headphone jack. Keyed transactions go through the card’s magnetic stripe by manually entering information into a software keypad on a smartphone or tablet.

Mobile credit card processing is typically less expensive than traditional point of sale (POS) systems, and there are no contracts, monthly fees or long-term commitments to use it.

What features should I look for when choosing a mobile credit card processor?

When choosing a mobile credit card processing solution, it’s important to consider what features and functions you need and how they will work for your business. Here are some of the most basic:

• Mobile-friendly: The app must be compatible with Apple or Android devices.
• PCI Compliance: You don’t want to put your customers’ data at risk, so it’s important that the credit card processor you choose is certified as PCIDSS-compliant.
• Hardware: You should have full control over which mobile hardware devices (such as headphone jacks or Bluetooth) you’d like to use with your software service.
• Ease of use: Look for an app that will integrate with inventory systems, accounting software and payroll services you currently use, to minimize the time it takes to process credit cards.
• Customer support: Asking questions is a big part of operating a business successfully; make sure your new mobile credit card processing service offers responsive customer support.

What is the average cost of mobile credit card processing?

There isn’t a one-size-fits all way to calculate mobile credit card processing fees. The best way is to compare several quotes from leading providers and work with them to find a solution that fits your business’s needs and budget.

When choosing between services, here are some factors that can influence the cost:

• Ease of use: More expensive solutions tend to be easier for a business owner or manager to learn and operate.
• Hardware: Hardware is often a bigger initial investment, but it means you won’t have monthly fees associated with purchasing headphone jacks or Bluetooth devices.
• Customer support: You may have to pay more up front, but excellent customer support can help you resolve issues quickly and ensure your business doesn’t miss out on sales.
• Transaction speed: Mobile credit card processing transactions are faster than traditional POS systems. This convenience may come at a higher price tag.
• PCI Compliance: Some mobile payment providers have additional security measures for transmitting and storing data, which may increase the cost of a service.
• Number of transactions: Higher volume businesses will pay a lower average rate per transaction than a low-volume business.
• Hardware included: Some providers have hardware that is included in their fee or offer it as an option. This can be attractive to those who already have devices they like to use and want to avoid additional monthly fees.

What is the average cost of swipe transactions?

Swiped transactions are those that go through a credit card’s magnetic strip by placing the card in the device you’re using (such as a headphone jack) and swiping it like a credit card machine. The fee for this type of transaction is typically a percentage of the total sale plus a fixed charge.

The average cost per swipe on some mobile credit card processors is as low as 2 to 3 percent, which can be less than traditional POS systems and significantly lower than traditional credit card processing fees or even Square (which charges up to 2.75%).

In a nutshell, a PEO is an organization that provides human resource services to their client companies. A professional employer organization acts as co-employer of the client company’s employees and assumes responsibility for all employee-related matters, including hiring, relocating, training, paying and managing employees – usually on a temporary or short-term basis.

A PEO typically provides a full suite of services, including payroll administration and tax filing, health insurance enrollment and claims processing, vacation and sick leave management, benefits administration, worker’s compensation coverage (when required), employee handbooks or online compliance resources, employment policies & procedures manual development for the client company. Some PEOs can also provide time and attendance tracking, performance management support, background screening services, legal staff who can assist with employment-related issues.

Although PEOs are not tied to the client company’s industry or location, their main demographic is small-to-midsize businesses (with revenue under $50 million). PEOs typically provide coverage for their clients in the following industries: construction, restaurant & hospitality, healthcare staffing, business process outsourcing (BPO), IT services and other similar positions.

The National Association of Professional Employer Organizations defines a PEO as follows: “A Third-Party Administrator (TPA) that assumes the employer’s fundamental personnel management responsibilities for its client companies in exchange for a fee. PEO’s perform the same functions as traditional TPA’s, but also provide ancillary services to make their clients more efficient in day-to-day administration.”

Here are five things you should know about Professional Employer Organizations (PEOs):

1. The concept of Professional Employer Organizations has been around for several decades, but has recently grown in popularity.
2. PEOs provide their clients with the services mentioned above. However, they do not get involved in hiring & firing decisions or managing daily operations of the client company.
3. PEOs typically manage all payroll related activities including preparing W-2’s and 1099’s, paying employees and filing payroll taxes.
4. PEOs typically deal with benefits such as workers compensation (when required), health insurance , disability insurance, life insurance and AD&D. They also file for COBRA on behalf of the client company upon request, along with any other ancillary benefit needs that might arise.
5. PEOs typically do not offer “full service” benefits such as dental, vision and long-term disability insurance – it is best to seek these services elsewhere .

The US Small Business Administration (SBA) estimated that there were about 20,000 payroll service providers in the United States and Canada in 2008. The SBA also estimated that the number of PEOs in the U.S. grew by 17 percent between 2007 and 2008, with about 2,400 new companies entering this business during this time period (in addition to the 20,000 more traditional payroll processors).

The top five Professional Employer Organizations (PEOs) based on revenue in 2010 were:

1) A to Z HR Solutions – revenue was $536.4 million in 2010, but has been acquired by CACI International Inc. in 2011

2) The Segal Group – revenue was $450.3 million in 2010.

3) Ajilon – revenue was $325.9 million in 2010

4) TriNet – revenue was $303.5 million in 2010

5) Paychex – revenue was $294.7 million in 2010 (Source: Inc Magazine)

The Protenus PEO Marketplace website is an excellent resource where you can compare fees, services and location of over 100+ Professional Employer Organizations.

Are you in the market shopping around for better credit card processing rates? If so, it is important to know that there are scores of business owners who are buying this product till date. Cheapest credit card processing rates is if great value and many small businesses have not yet realized the benefits associated.

Cheapest Credit Card Processing Rates

Credit card processing service providers are out there in the market but they don’t always provide the best rates for all businesses. Cheapest credit card processing rates can be had when you prepare well and ask right questions to your provider. Here’s how:

1) Keep Costs Down by Choosing Cheapest Credit Card Processing Rates Provider Appropriately:

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3) Cheapest Credit Card Processing Rates is Cheaper Than You Think:

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A Cross Border Fee is a fee that some credit card processors charge to process credit cards issued outside of the country or region where your business is located. If you are in New York City, cross border fees are incurred when you accept a credit card issued by someone living in France. Cross border fees can be charged on any transaction carried out through a foreign currency. Cross Border Fees are charged by many credit card processors, including some of the largest companies in the industry.

Do Cross Border Processing Fees Affect More Businesses?

It is easy to think that Cross Border Fees will not affect your business because you process so few transactions outside of your region. But Cross Border Fees can actually be the most expensive processing fees when compared to other card processing fees. Cross Border Fees are often charged per transaction, regardless of the amount in US dollars transferred by the Cross Border fee.

When Cross Border Processing Fees Are Charged?

Cross border fees may only apply transactions where both parties conduct their business in different currencies or countries, Cross Border Fees are charged when a credit card issued in one country is being processed at a location where the currency used by both parties is different from the issuing bank. Cross border fees may be charged for any transaction where both parties use a different currency or country of origin, even if other types of processing fees, such as interchange fees and assessment fees apply as well.

Cross Border Fees may be charged for any transaction where both parties use a different currency or country of origin, even if other types of processing fees, such as interchange fees and assessment fees apply as well. Cross Border Fee is only one type of fee that applies to Cross Border Credit Card Processing transactions.

Which Companies Charge Cross Border Processing Fees?

Some of the largest Cross Border Credit Card Processing providers now charge Cross Border Fees as a standard part of their credit card processing fees. Cross border fees can be applied to all types of transactions, including eCommerce and mobile payments. Cross Border Fees are often charged as a percentage of the transaction amount. Cross Border Fees may also include other Cross Border Processing Fees. Cross border fees can be applied to Cross Border transactions processed, regardless of the Cross Border Fee amount, Cross border fees may also include flat Cross Border Fees and Cross Border Transactional Fees.

What Does a Cross Border Fee for Credit Card Processing Mean For Your Business?

A Cross Border Fee for Credit Card Processing will significantly increase your credit card processing fees for Cross Border Transactions. Cross Border Fees can be costly, and they may even outweigh the value of Cross Border revenues generated by Cross Border transactions. Cross border fees can also hurt business cash flow. Cross border fees must be evaluated when determining whether to process Cross Border transactions with a foreign currency or from a different country. Cross Border Fees can also increase Cross Border transaction times, making Cross Border processing economically and practically impractical.

Why Don’t All Credit Card Processing Providers Charge Cross Border Fees?

Not all credit card processors charge Cross border fees, but the majority of Cross Border Credit Card processors now charge Cross border fees as a part of their standard fees. Cross Border Fees are often charged as a Cross Border Percentage Fee, Cross Border per-transaction fee, Cross Border per-transfer fee, Cross Border flat rate fee or Cross Border Assessments fees. Some companies also use the term ‘Cross border assessment fee’ interchangeably with Cross border fees.

The Old Navy Credit Card can be used at stores that offer the “Plenti” rewards program. The credit card issuer for this store rewards card is Synchrony Bank, who will report your timely payments to all three major credit bureaus (Experian, Equifax, and TransUnion). This retail credit card has no annual fee and no foreign transaction fees.

One major benefit of the Old Navy Credit Card is that you can use it to earn points for every dollar you spend. You’ll then be able to redeem these points for rewards like discounts on future purchases or even a $10 statement credit. Another plus is that cardholders can take advantage of exclusive sales and great discounts.

Finally, you’ll also receive a rewards program that’s valid on purchases made both in-store and on Old Navy’s online store. A 0% Introductory APR is available for the first six months on all purchases made with your credit card. If you’re a frequent shopper at Old Navy, then this card will be even more beneficial to you.

How Much is the APR for the Old Navy Credit Card?

The purchase and balance transfer APR for your Old Navy credit card is a variable rate, starting at 10.49% and going up to 22.49%. The cash advance APR will be 29.49%, while there’s also a penalty APR of 29.49%. Keep in mind that these APRs are subject to change.

What are the Fees for the Old Navy Credit Card?

The following fees will be associated with your Old Navy credit card: a $5 or 3% cash advance fee (whichever is greater), a $10 or 5% balance transfer fee (whichever is greater), and a $27 or 5% foreign transaction fee.

How to Use the Old Navy Credit Card?

If you’re an Old Navy shopper, then the Old Navy credit card is a great way to save money on your purchases. You can use it to earn points for every dollar you spend, which can be redeemed for rewards.

To use your card at a store that offers the “Plenti” rewards program, just look for a participating location and let the cashier know you’re using the Old Navy credit card. Then, swipe your card as you normally would. Afterward, be sure to receive a receipt so that you can track your rewards.

Make sure to use your Old Navy credit card responsibly, as it can lead to a lot of debt if you’re not careful. In fact, with the 29.49% penalty APR, this could even damage your credit score in the long run. While this retail rewards card does have some great benefits, being responsible with your credit utilization is key.

If you’re looking for a great way to save money on Old Navy purchases, then the Old Navy credit card is definitely a card to consider. It has no annual fee, no foreign transaction fees, and offers a 0% Introductory APR for the first six months on all purchases made with your credit card. Plus, you can use it at stores that offer the “Plenti” rewards program.

How to Use Your Rewards Points for an Old Navy Credit Card?

When you shop at an Old Navy store location or online, your purchases will earn you Plenti points. When you have enough points, you can redeem them in exchange for a statement credit or rewards like discounts on future purchases.

Credit card Transaction processing is the process of sending Credit Card transaction details from a merchant to a Credit Card Processor. The Credit Card transaction process consists of different steps or stages, this article will focus on these stages and will also use simple analogy to help you understand Credit Card transactions better.

Credit Card Transaction processing consist of four basic stages as defined by Credit Card Processing Industry:

• Authorization – Credit card transaction is approved or declined. This stage occur immediately after a Credit Card purchase has been made. The Credit Card processing terminal will try to contact Credit card network through a Credit Card Processor for authorisation of Credit Card transaction status.
• Capture – Payment is captured at the end of the day and funds are deposited into the merchant’s account. Credit Card processing terminal will send Credit Card transaction details together with Credit card information and its authorization to Credit Card network for funds deposit.
• Settlement – Once Credit card transactions has been authorized, Credit Card transactions and Credit card settlement happen almost at the same time. Funds that were captured by merchants such as Credit card processing terminal are deposited into merchant’s bank account and Credit Card networks pays the merchant’s Credit Card Processor.
• Chargeback – This is the reversal of a Credit Card Transaction that has previously been authorized, captured and settled. A chargeback can happen when a Credit Cardholder disputes a purchase with their Credit Card Issuer. The Credit Card issuer will chargeback Credit card transactions to Credit Card Processor who in turn will contact the Credit card terminal provider.
• This Credit Card Analysis provides Credit Card Transaction flow that typically occurs between Credit Cardholders, merchants and Credit Card Processors or Banks. Remember this is just a simplistic explanation of the transaction flow should not be used as Financial Advice.

Analogy of Credit Card Transaction Processing

Credit Card Transactions can be best explained by using an analogy. Buying a House can be used as an analogy for Credit card purchase.

When you purchase a House, you need to go through different steps in order to complete the purchase. The first step is finding the right House, once you have found the right House you need to apply for a Credit card in order to be approved and allowed to purchase that House. Credit Card transaction processing then begins at the time of purchase:

1. Credit card Authorization – your Credit is checked by Credit Card Issuer when making the initial Credit Card purchase
2. Credit Card Capture – Funds are transferred from Credit Card Issuer to the House Seller at the end of the day
3. Credit Card Settlement – Credit Card Issuer pays the House Seller almost immediately after Credit Card purchase is made
4. Credit Card Chargeback – If somebody disputes the purchase, Credit Card Issuer charges back Credit card transactions to Credit Card Processor.

The important thing to remember is that in order for a Credit Card purchase to go through, Credit Card Issuer must be contacted and authorize the Credit Card purchase. Credit Card Processing terminal will try to contact Credit card network through a Credit Card Processor for authorisation of Credit Card transaction status. This flow typically happens immediately after Credit Card purchase is made.

Credit Card Transaction Processing

Now that you understand how Credit Card Transactions work, it is important to know what Credit Card Processor your business should be using.

There are a few Credit Card Processors to choose from, but we recommend using Credit card transaction processing company like Square or PayPal. They both have Credit Card Processing terminals that can be used to easily accept Credit Card payments. Credit Card Terminals have Credit Card readers that can be plugged into phones, iPads or computers. Credit Card transactions are then processed by Credit card transaction processing company’s Credit Card Processor network. Credit Cards are swiped or manually entered to process Credit card transactions.

Credit cards can also be keyed in to your Credit Card terminal, this is done by manually typing in Credit Card number, expiration date and security code.

If you have any other questions about Credit Card Transaction Processing or Credit Card Terminals, please feel free to contact us at any time.

QuickBooks Workforce is an online payroll service. It allows you to log into the web app and create employees, set up pay rates, print paychecks, set up direct deposit or have your employees cash checks at a local check-cashing store. The service also makes automatic tax calculations and filings on your behalf so you can spend less time worrying about payroll and more time running your business.

You can use Workforce in conjunction with QuickBooks, or you can subscribe to the service even if you don’t have a copy of Intuit’s popular accounting software. It works with all major banks and credit unions for direct deposit, and supported form totals range from $0 – $9999.99, so you can use it for paying independent contractors and part-time employees as well.

Who Uses QuickBooks Workforce?

According to Intuit’s website, QuickBooks Workforce is used by over 350,000 businesses of all sizes in the US and Canada. It claims its payroll service is used by small and medium-sized companies, as well as government agencies and nonprofits. It appears that the service is completely free for very small businesses with up to five employees – a big selling point if you’re just starting out and still working a day job at the same time.

How Does QuickBooks Workforce Work?

Workforce is an online payroll service that makes managing and paying employees much simpler than the traditional method of sending out checks and calculating taxes using a spreadsheet or paper forms. It’s all done online, so you never have to worry about losing paperwork or making incorrect calculations.

When you sign up for QuickBooks Workforce, you’ll enter in information like your company name and address, employer identification number (EIN), banking information, current payroll status and the method you want to use for filing your taxes. You can also create or import employees into Workforce during the set-up process. There are five steps to getting started with Workforce:

Create a company profile Enter bank account information Add employees Add new pay rates Change any employee information.

After you’re set up, it’s time to create an Employee QuickFile. These are pre-populated forms that allow you to record deductions and other payroll-related items for your employees very quickly. You can then proceed with the steps below, which show how to start paying your employees with Workforce:

Pay an employee Pay a contractor Enter time worked for multiple employees Add a second W-2 or other tax forms (such as 1099-MISC) to an existing employee. This option is available if you want to send out multiple copies of the same IRS form, like how some companies send out separate 1099s for different contractors they work with.

Once you’ve created an employee, it’s time to set up your pay rates, which are based on how many hours they work each week for your company. There are also options to set up different pay rates by the number of hours worked. For example, if you have one employee that works 20 hours per week and another that works 40 hours per week, you can set up a different rate for each one. You also get the option to print paychecks and tax forms directly from the web app.

If you need to make any changes to your employees’ pay rates or other information later on, you can simply access that employee’s profile and make changes like adding a deduction or changing a filing status. As for taxes, QuickBooks automatically calculates how much your employees owe, and all you have to do is enter in your company’s EIN number from the IRS so it can complete the correct tax forms for each employee. You won’t have to worry about figuring out or even looking up which taxes apply to you, as they’re already included in each employee’s pay rate.

After you set up your employees, you can choose how often you want to run payroll by selecting one of the predefined options or creating a custom schedule that lets you see exactly when employees will be paid for. If it turns out an employee is owed more than the current deposit you made (if you’re paying employees on a weekly or monthly schedule), QuickBooks Workforce will automatically update the amount as more money becomes available.

How Much Does It Cost?

QuickBooks Workforce is completely free if your business has fewer than five employees, and it’s ideal for those with very basic payroll needs like paying hourly employees on a weekly or monthly schedule. However, if you have more complex needs like non-hourly pay rates, salaried employees and different filing statuses, the QuickBooks Self-Employed service is a better choice since there’s no limit to how many forms you can create or use it on an unlimited number of devices for just $9.99 per month.

Beyond the cost of QuickBooks Self-Employed, you’ll also need to pay a third party for their services if you want your employees to be paid by direct deposit. Some banks offer this service for free, while others might charge a fee on top of their regular account fees. You can find more information by contacting your bank directly.

If you’d like to pay employees with a paper check, just let them know when they’re hired that it’ll take about four days for their payment to arrive in the mail, and then enter the number of expected payments into QuickBooks Workforce after you run payroll. You can then go into each employee’s profile and mark their payment method as either direct deposit or check. You can also choose not to keep track of how many paper checks you’ve issued by marking the payment method field “don’t care.”