How to Receive SMS Payments for Merchants

Set Up a Paypal Account
1. Visit the Paypal website and sign up for a free account. Not only will you be able to receive money as a merchant, but you will be able to send money and shop online using Paypal as your payment medium. Click the button to sign up for an account.
2. Choose your country and language and click the 'business' link to sign up as a business or merchant account. You will also be asked to choose a payment solution. Click the phrase that best fits your needs, such as 'Paypal as an additional payment option'.
3. Fill out the forms with your business information and click the radio buttons for the type of things you will want Paypal to do for you. You can use Paypal to sell in online marketplaces or at your own website. Follow all the steps.
4. Link your Paypal directly to your business bank account with the options provided. This will take a couple days because you will be asked to verify your bank account by checking your bank statement and revealing to Paypal what small amounts of money they deposited into your account.
5. Link your account to your phone number as well. This is an important step so you can receive payments through SMS directly to your phone. Click the small 'profile' link and 'add or edit phone number'. Enter the business phone number you wish to use and click the 'link' button to link the phone number to the Paypal account. You will need to confirm your phone number by pulling up the text message sent to your phone and typing in the code to your Paypal account that you received in the message.
Receive Payments
6. Instruct your customers how to send money so that you will receive it through an SMS message. The customer will need a Paypal account also. He should log in to his account and hit the button for 'send money'.
7. The customer will enter the phone number you gave him in the first field, type in the amount of money to send you, and click the correct radio button that allocates it as a purchase of goods or services.
8. He can then type in a message to you if he wishes and confirm the money to be sent. You will receive an SMS to your phone that states you have been sent money. You can use a Paypal application on your phone, if you have a smartphone, to put the money directly in your bank account. Otherwise, it will sit in your Paypal account until you need it.