How to update your business name on customers' credit card statements.

Apr 10 2018 | PayPal editorial staff

It’s important to make your Credit Card Statement Name as clear as possible so that customers will recognize your charge on their card statement.
If a customer doesn’t recognize a charge, they could open a complaint that they did not recognize or did not authorize the charge. The Credit Card Statement Name is the name that will appear on your customer’s credit or debit card statements. To help your customers remember where they shopped, make sure your Credit Card Statement Name is correct by following the instructions below.

Update Your Credit Card Statement Name (Standard or Advanced).
  1. Log in to your PayPal account.
  2. Click Profile at the top of the page.
  3. Click Business Setup.
  4. Click Account setup.
  5. Click Make your business name clear for customers.
  6. Enter your business name, then click Confirm Business Name.
    • Don’t enter special characters such as &, #, ().
    • Your business name could be displayed on your customers’ credit card statement after the word PayPal *. For example (PayPal *SELLER NAME).

Update your Credit Card Statement Name (Pro or Virtual Terminal).
  1. Log in to your PayPal account.
  2. Click Profile at the top of the page.
  3. Click Payment receiving preferences in the “Security and risk settings” section.
  4. Enter your business name, then click Save.
    • Don’t enter special characters such as &,#,_().
Note: If your customer paid for their purchase using a bank transfer, your business name will not appear on their bank statement. Instead, your customer will see PAYPALINST XFER. To verify the purchase your customer would need to log in to PayPal and look for the transaction in their History.

 
The contents of this site are provided for informational purposes only. You should always obtain independent, professional accounting, financial, and legal advice before making any business decision.

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Frequently asked questions.

Swipe the card.
  • The best way to help protect yourself against fraud is to swipe the card through your PayPal Here card reader instead of manually entering the card number.
  • Since the magnetic stripe includes built-in security features that aren’t available for manually entered transactions, swiping cards reduces the chances of fraud.
  • As of October 2015, card issuers have migrated to EMV chip security – the most secure way to process in-person transactions. Named for EuroPay, MasterCard, and Visa, the EMV chip houses the card data in the microchip and produces a one-time code for each purchase to help reduce fraud.
  • In order to protect your identity and transaction security, PayPal offers a simple solution to accept and process both mag-stripe and EMV. Click here for more information on the PayPal EMV reader.
  • Phone payments: If you typically accept payments over the phone, Virtual Terminal may be a better choice for your business. It was specifically designed for businesses that take payments over the phone, fax or mail order.
  • Keyed and scanned payments: Entering the customer’s zip code helps protect you from fraud. Be aware that the transaction fee is slightly higher when you manually enter card numbers, and payments you receive may not be available right away.
Verify the signature.
  • Make sure the customer’s signature on the sales receipt matches the card signature and the name on the front of the card.
  • No signature: If the card isn’t signed, ask for a driver’s license or other photo ID to help verify the customer’s identity.
Verify your credit card statement name.
  • Make sure your business name is clear on debit or credit card statements. If customers don’t recognize a charge on their statement, they may think that the charge was fraudulent and open an unauthorized chargeback.
Ask for driver’s license or photo ID.
  • If a customer places an unusually large order, or if you suspect that a card might be fraudulent, ask for the customer’s ID. The name on the photo ID should match the name on the card.
  • No driver’s license: Ask the customer for another form of ID. If you don’t want to risk the loss and the order seems suspicious, consider declining the sale.
  • Photo ID doesn’t match: If the name on the ID doesn’t match the name on the card, consider declining the sale. For your safety, stay calm and don’t tell the customer that you suspect fraud. Instead, just let them know you can’t accept the sale.
Post your return policy.
  • Post your return policy in a visible place in your store so customers can read it before they pay for their orders. Also include your return policy on the sales receipt. If you’re using PayPal Here, you can include your return policy on your printed receipts. Set this up by going to your app settings and selecting “Printing.”

We want to help you avoid fraudulent transactions and protect your business. This is important because you may be held financially responsible if you accept a stolen credit card.  Here are a few tips to help you avoid transaction problems. 

Before a Sale

  • Include a clear return policy on your receipts and invoices. 
  • Create a recognizable card statement name. A customer who doesn't recognize your business name on their card statement may contact their card issuer because they think that the charge was unauthorized. On a card statement, your business name will appear next to the word "PAYPAL*." Go to your Business Profile to add a return policy to your receipts and update your card statement name.

During a Sale

  • Enter a description for each item that you sell. 
  • Verify the customer's name and signature if you use a card reader. If the card isn't signed, ask for a photo ID. The name on the ID should match the name on the card. 
  • Swipe cards with your card reader. The magnetic stripe has built-in security features.  
  • If you manually enter a card number, make sure to enter the customer's valid billing zip code. 

After a Sale

Keep good records. Hold on to receipts, invoices and other documentation from your sales. Chargebacks can be filed months after a transaction and you'll need documentation to respond to any claims.

Manually Entered Cards

In general, manually-entered card payments have a higher incidence of fraud because the cardholder doesn't necessarily have to be there for the transaction to take place.  Because of this, the transaction fee is slightly higher and payments might not be available for withdrawal right away. We recommend that you swipe cards with your card reader because the magnetic stripe on the back of a card has built-in security features. If you don't have a card reader or you have to enter a card number for some other reason, it's important that you make sure that the customer owns the card.  We recommend that you: 

  • Ask for photo ID if the card isn't signed. 
  • Have customers sign for all purchases, big and small. 
  • Make sure that you enter the customer's valid billing ZIP code. 
  • Itemize sales and enter a description for each item that you sell.
We first use a National Database to confirm your personal information or your business entity. However, sometimes finding your information using the National Database doesn't work because the information is either unavailable, or your name or address has changed.

If we can't verify your personal information, we will ask you to send us documents which confirm your identity via your PayPal account. Please see the guide below explaining what documents we can or cannot accept.

Personal Information Verification​
Proof of Identity
Documents must include information such as first and last name, date of birth, issuance and expiry date, as well as the document ID number. The name on this document must match the name you've registered on your PayPal account.
 
Acceptable Proof of Identity documents are:
  • Driver’s license
  • Passport or passport card
  • State or Government Issue ID
Unacceptable documents:
  • Military IDs
  • State medical cards, student cards
  • Expired, partial or obscured documents
Note:  If you've recently changed your name and the information on your identity document doesn't match the information on your account, you may have to provide additional documentation to show the name has changed.
 
Proof of Address
A proof of residence document that confirms where you live. This document must show both your full name and residential address. We can only verify physical addresses, not PO Box addresses. 
 
Acceptable Proof of Address documents are:
  • Utility bill (Dated within last 12 months)
  • Cell or landline phone bill (Dated within last 12 months)
  • Motor vehicle registration (Dated within last 12 months)
  • 401k/Brokerage Statement (Dated within last 12 months)
  • Copy of Grant Deed on Home or Lease Agreement for Home
  • Bank or credit card statement (Dated within last 12 months)
  • Identity card or driver’s license with physical address listed (must be current)
Unacceptable documents:
  • Envelopes
  • Military IDs
  • Invoices, receipts, all waybills
  • Expired, partial or obscured documents
Proof of SSN/ITIN
A document that confirms your 9-digit SSN/ITIN, assigned by the Internal Revenue Service or Social Security Administration.
 
Acceptable Proof of SSN/ITIN documents include:
  • Social Security Number card
  • Letter from IRS assigning SSN or ITIN
  • 1099 Form (Dated within last 12 months)
  • Employer-issued W2 (Dated within last 12 months)
  • Paystub with complete SSN (Dated within last 12 months)
  • 3rd party prepared tax documents (Dated within last 12 months, and signed by 3rd party preparer)
Unacceptable documents:
  • Envelopes
  • Self-completed applications
  • Self-prepared tax documents
  • Expired, partial or obscured documents
Note If you don't have access to any of these documents, you can go to your local Social Security Office and request a letter which will verify your Social Security Number.


Business Entity Verification 
Proof of Business Identity
A document that confirms your business entity’s Employer Identification Number (EIN) or Tax Identification Number (TIN). The business name on this document must match the full business name on your PayPal account.
 
Acceptable Proof of Business Identity documents include :
  • Copy of IRS Letter assigning EIN/TIN
  • Screen print of EIN/TIN assigned real-time during online application
  • Previous year’s business tax return, prepared and signed by 3rd party preparer
  • Current bank statement displaying truncated EIN/TIN (Dated within last 12 months)
  • Current credit card statement displaying truncated EIN/TIN (Dated within last 12 months)
  • Other government-issued documents displaying full business name and 9-digit EIN/TIN (Dated within last 12 months)
Unacceptable documents:
  • Self-completed applications
  • Self-prepared tax documents
  • Expired, partial or obscured documents
Proof of Business Address
A proof of address document that confirms your business entity’s correspondence address. We can only verify physical addresses, not PO Box addresses. All documents must be dated within the last 12 months.
 
Acceptable Proof of Business Address documents include:
  • Current utility or phone bill
  • Current insurance or tax statement
  • Government-issued business license/permit
  • Current Certificate of Good Standing (Active Status)
  • Current bank statement displaying full business name
  • Current credit card statement displaying full business name
  • Other registration document filed with Secretary of State (i.e. Certificate of Incorporation, Partnership Agreement, or comparable business registration document)
Unacceptable documents:
  • Envelopes
  • Invoices, receipts, all waybills
  • Expired, partial or obscured documents
Proof of Business Existence
A current document issued by the Secretary of State (or equivalent agency) showing that a business entity has complied with the applicable provisions of the laws of the state, is in good standing, and is authorized to transact for business. The business name on this document must match the full business name on your PayPal account.
 
Acceptable Proof of Business Existence include:
  • Government-issued business license/permit
  • Current Certificate of Good Standing (Active Status)
  • Other registration document filed with Secretary of State (i.e. Certificate of Incorporation, Partnership Agreement, or comparable business registration document)
Note: All documents must be dated within the last 12 months.

Update Billing page enables you to view and modify your billing information. PayPal uses this information to bill you for your Payflow services.

  • Only administrators can modify billing information. If you do not have administrator privileges, you can only view your billing information here.

To access the Billing Information page, navigate to Account Administration ->  Contact Information -> Billing Information.

Here's how to update your billing information in PayPal Manager:

  1. Log in to PayPal Manager at https://manager.paypal.com.  
  2. Click Account Administration.
  3. Click Billing Information under Contact Information.  
  4. Change your information as needed.  
  5. Click Update.  

     

Modifying your Billing Information

  1. The Billing Information page displays the credit card information that is currently being used for billing purposes in the Current Billing Information section. Only the first and last four digits of your credit card number are displayed, for example, 5105XXXXXXXX5100.
  2. To update your credit card information, enter credit card number and expiration date in the Modify your Billing Information section. Be sure to enter only numbers, without any space and dashes. For example, 5105105105105100.
  3. Click Update to save the changes. A gray notification box appears towards the top of the page confirming the changes. If there are any errors, a yellow box appears towards the top of the page stating the problem.
  4. If you have changed your credit card number, verify that the billing contact information is accurate for the new credit card. See section below for more information.

 

Modifying Your Billing Contact Information

  1. The Billing Information page displays contact information and address for the credit card that is being used for billing purposes in the Modify your Billing Contact Information section.
  2. Review the billing information. If you wish to modify this information, then enter the information as per the table below.
    FieldDescription
    Billing ContactName of your billing contact. Be sure to use the same name appearing on the account holder billing statement.
    Street AddressStreet address of the billing contact. Use the same street address that appears on the account holder billing statement.
    Street Address continuedAdditional street address information of the billing contact.
    CityCity of the billing contact. Be sure to use the same city that appears on the account holder billing statement.
    State/ProvinceState of the billing contact. Be sure to use the same state/province that appears on the account holder billing statement. This is required only if the address is in the United States or Canada.
    Zip/Postal CodeZip/postal code of the billing contact. Be sure to use the same zip/postal code that appears on the account holder billing statement. This is required only if the address is in the United States or Canada.
    Phone NumberPhone number of the billing contact. Example: 650-555-1212 or 650-555-1212 x1234.
    Fax NumberFax number of the billing contact.
    EmailEmail address of the billing contact.
  3. Click Update to save the changes. A gray notification box appears towards the top of the page confirming the changes. If there are any errors, a yellow box appears towards the top of the page stating the problem.​
We strongly encourage you to keep all your contact information up to date.