A new tool from PayPal is designed to give merchants the option of letting customers complete credit card transactions on the merchants’ own sites–that is, without being redirected to PayPal’s site.

Merchants using PayPal’s new tool can receive orders and credit card payments via phone, fax or mail order. These merchants will have access to something called "virtual terminal," which makes these transactions free.

PayPal is charging $20 monthly for Website Payments Pro, plus fees of 2.2 percent to 2.9 percent per transaction, along with a flat fee of 30 cents per transaction.

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