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.

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.
When making a purchase with PayPal, the charge may appear as “PayPal” along with the number 402-935-7733 on your bank or credit card statement. You may also see this phone number, which is a phone number associated with PayPal Customer Service, if the Merchant you’re shopping with uses PayPal as their credit card processor. Check your account statement with your most recent PayPal history.

If you don’t have a PayPal account, or haven’t used it recently, please follow the steps to report an unauthorized transaction.

You can find your 4-digit PayPal code on your debit or credit card statement next to or near the charge amount.

Your code will look like this in the item description section of your statement:

PayPal*1234 CODE or PP*1234 CODE

Please allow 2 to 3 business days for the PayPal code to appear on your online card statement. If you do not have online access to your statement, you'll need to wait for your statement in the mail.

Here’s how to enter the 4-digit PayPal code to confirm your card:

  1. Click Settings.
  2. Click Money, banks and cards under "Profile" on the left of the page.
  3. Click Edit beside "Cards."
  4. Enter the 4-digit PayPal code and click Submit.
  • If you do not act to confirm your card by entering in the 4-digit code (or your card cannot by confirmed), the charge will be refunded 75 days from the date of the charge (60 days in Brazil). Based on certain jurisdictions (such as Brazil) the credit may not actually post to your card for up to 30 additional days.
  • If you remove your card or close your account during the time frames above, the return of the credit may not process. In these instances, you may need to contact PayPal Customer Service to have the charge refunded.