PayPal is an online payment system which enables you to do an electronic transfer of funds. Funds can be transferred, whether for business or individual purposes. This is one of the most secure payment modes for making an online transaction.
PayPal, offers a safe, easy and convenient way to pay, either thru credit cards, bank accounts, buyer credit or account balances, whichever you prefer. All this can be done without a user, sharing his/her financial information.
This online payment system was first established in 1998 as Confinity and had its initial public offering in 2002, and later became a wholly owned subsidiary of eBay later that year. This is a payment system that can be used in more than 200 countries.
Headquartered in San Jose, California, United States, PayPal has as it founders Elon Musk, Peter Thiel, Yu Pan, Max Levchin, Ken Howery and Luke Nosek.
Reasons To Use PayPal
- PayPal is old, and well established, which makes it widely accepted, with wide coverage in over 200 countries. Thousands of “Pay by PayPal” exists in thousands of websites, which makes it easily accessible to customers.
- It offers buyer protection, which protects and ensures a refund is gotten, if an item bought online does not arrive, or does not match a seller’s specification. This comes in handy when you are purchasing items on eBay, where shop guarantees, are not usually given.
- Items, sold on a personal or business level, are paid through PayPal with protection.
- They offers an additional layer of security to payments. Users do not have to enter their card details or CCV number for each transaction. The online stores, do not have your details in their database, as just your PayPal login and password or mobile number and PIN is required.
- OneTouch payments can be used; where they keep you logged in if you activate the service, and you do not need to fill in your details, each time, something is purchased, no matter the store. This is because it is specific to a device and browser.
PayPal is free to use, as it’s signed up cost nothing, even if you do not frequently use it. Users are not charged for purchase in the same currency, only occasionally, when there is an exchange rate to be considered.
Note; you will occasionally incur fees, if you sell items, and get paid through PayPal. Also, business accounts may have different fees charged based on the circumstances, like; accepting credit card payments through a PayPal Here Chip and PIN/contactless payment reader.
Paypal App, Is Available For iPhone And Android Devices
The platform has been adjudged, the world’s most popular “middleman” service, for online purchasing. It has grown over the years to become the best and trusted way of sending money online. Which gives users ease, comfort and security for their online payment. Pick up your device, and create an account today.
As you can visit your mobile store and get the app downloaded on your mobile device. The app is available in the app store for both Android an iOS users. If you have a mobile device download the PayPal app it’s free as it’s an easy way to access your account.