How To Pay Your Outsourced Team Using Paypal Mass Payment


Hi, it’s Tyrone from Tyroneshum.com. In
today’s tutorial, I want to share with you the payment method that I currently use to
pay virtual assistants or virtual staff. A question that I’ve been asked regularly
is how come you don’t use Xoom anymore? And, the reason why is because Xoom is only
restricted now to U.S. and I used to use Xoom because its fees are lower than Paypal but
because has been restricted and I’m in Australia, and no doubt there are many people outside
the States outsourcing to the Philippines, you need to find another method. Yes, Paypal is a little bit more expensive
but I found a quite good way to be able to pay at a lower rate in comparison to using
Xoom. So what I’m going to be showing right now is how I use what we call the Mass Payment
system in Paypal — not a normal way but Mass Payment system in Paypal. And, this method
actually reduces your fees. It does require you to submit a text file and also do some
extra little bit of clicking through but it will save you on the fees in comparison to
paying $4 US or so per transaction, you might be paying up to a dollar at most. So it’s
about four times less. All right, let’s just jump over and I’ll show you how to
set it up inside your system. Firstly, what I suggest you do is log in to
your Paypal account by just simply going to Paypal.com. So I’m logged in right now.
Once you’ve logged in, I’ll usually go to the “Send Money” to be able to send
money to my virtual assistant and I usually do this on a monthly basis. Okay, so if you
want to be able to send money, this is the normal way to do it. You just type in To:
whoever, and you type in your amounts here and you can click Services, and click Continue
right down here. That way, usually either your virtual assistant or your virtual staff
will get charged a fee of $4 per transaction and also you probably might get charged as
well depending on what country you’re in. Alternatively, I use this method called Make
a Mass Payment and I’ve just clicked on it. To make a Mass Payment, this is what you
do. You can send up to 5,000 payments at once.
Say you got 10 virtual staff in your company, you can actually post it all inside this little
text file that I’ll show you how to create. Then, upload it once and you’ll do all the
payments all at once. So reading it over here, it says here you can upload a payment pal
on this page and you meet your information using the APIs. Those are two methods. What
I recommend you do is using a payment file and it’s just a simple text file or CSV
file. All right, all you have to do is simply select your file by clicking “Upload here”
and look for your file. So I’ve uploaded a file called MassPayment.txt and you want
to solve the payment receipts identified by the email address, and then in your email
subject you can type something in like “This is your transaction” or “Your invoice
payment” and you can type your receipt. I usually ignore those fields. The most important
thing is to process your payment. Once you’ve done that, just simply hit the
Review button and what will happen is it will take you through the payment process. It’ll
automatically pay to your virtual assistant the amounts that they require. So that’s
how you setup the Mass Payment. What I’ll show you next is how to setup the text files
that you’ve uploaded. We’ll go to the text file now. As you can see here, this is
the MassPayment.txt file and all of these is you just have to type in three simple fields.
The first field is the email address that you’re going to be sending the payment to,
it’s the Paypal email. It could be anything, [email protected], or the [email protected] then
the amount without dollar sign or any currency sign, so 325.31 then USD or whatever payment
currency it is. In between here, these are all tabs. If you click on Tab key, these are
all tabs. Once you’ve done that, that’s the first payment that I want to make to the
person. You can hit Entry button and then it will create a new line for you and it will
do exactly the same thing. You can pay up to many, many different currencies that are
available inside Paypal. If you do it in this method, you’ll save quite a lot of money
on your transaction fees. So this is just a little tip that I want to
share with you today. I hope that you can also implement this into your system. It’s
something that I know a lot of people have been struggling with regards to not having
Xoom anymore to pay to the Philippines and there are other methods out there. But I think,
in my opinion, Paypal using the Mass Pay method is probably the easiest and simplest method
out there that will keep your fees down or quite low. If you have any more feedback and
you find other really good payment systems that you can recommend, love to hear about
it too. Just leave it down on the comments section here and I love to hear your feedback
as well. Love you to also tweet this and get it out to FaceBook as well and just to share
with people because I know that a lot of people who are running businesses with virtual assistants
will probably find these tips quite handy and quite helpful too. All right, that’s
it for me today. I hope you’ve enjoyed the video that I’ve presented for you today.
My name is Tyrone from Tyroneshum.com. Have a great day and see you in the next video!

2 thoughts on “How To Pay Your Outsourced Team Using Paypal Mass Payment”

  1. Great idea, thanks for sharing… will definitely use it!

    also, how do you put your 'video' inside the video? I will be making videos and this is a great way to connect but 'stay out of the way'… cheers,

    Jake

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