PayPal: Getting to Know the Popular Online Payment System
In recent years, the way of online transactions has undergone significant changes. If previously we could only make online transactions using credit or debit cards, now we have many other options, one of which is PayPal. In this article, we will discuss PayPal, a popular online payment system used by millions of people around the world.
What is PayPal?
PayPal is an online payment system that allows users to make online transactions easily and safely. Developed by PayPal Holdings, Inc, the company was founded in 1998 by Peter Thiel and Max Levchin. Initially, PayPal was known as Confinity, but the company name was changed to PayPal in 2001.
PayPal allows users to make online transactions using the balance in their account. Users can top-up their balance using a credit, debit card or bank transfer. Once the balance in their account is sufficient, users can make online transactions easily and quickly.
Advantages of PayPal
PayPal has several advantages that make it a popular online payment system. Here are some of the advantages of PayPal:
- Easy to use : The transaction process with PayPal is very easy and simple. Users only need to have a balance in their account and confirm the transaction.
- Safe : PayPal uses advanced encryption technology to protect user information. Additionally, PayPal also has policies to protect users from unauthorized transactions.
- Many choices of payment methods : PayPal allows users to top-up their balance using a credit, debit card or bank transfer.
- Can be used in various countries : PayPal can be used in more than 200 countries worldwide.
- No need to have a credit card : Users do not need to have a credit card to make online transactions with PayPal.
How to Create a PayPal Account
Creating a PayPal account is very easy and simple. Here are the steps:
- Visit the PayPal website at paypal.com.
- Click the “Register” button in the top right corner of the page.
- Fill in the registration form with the required information, such as name, email address, and password.
- Click the “Register” button to create an account.
- Verify your email address by clicking the link sent by PayPal to your email address.
- Fill in complete profile information, such as name, address and date of birth.
- Add a payment method, such as credit or debit card.
How to Use PayPal
Using PayPal is very easy and simple. Here are the steps:
- Visit a website that accepts PayPal as a payment method.
- Click the “Pay with PayPal” or “Checkout with PayPal” button.
- Enter your PayPal email address and password.
- Select your desired payment method, such as account balance or credit card.
- Click the “Pay” button to make the transaction.
PayPal Fees
PayPal has several fees that vary depending on the type of transaction. Here are some PayPal fees:
- Transaction fees : PayPal transaction fees are 2.9% + $0.30 per transaction.
- Transfer fees : PayPal transfer fee is $0.25 per transfer.
- Currency conversion fees : PayPal currency conversion fee is 2.5% – 4.5% per transaction.
PayPal Security
PayPal has some advanced security to protect user information. Here are some PayPal security:
- Encryption : PayPal uses advanced encryption technology to protect user information.
- Privacy policy : PayPal has a strict privacy policy to protect user information.
- Account security : PayPal has advanced account security to prevent unauthorized transactions.
Conclusion
PayPal is a popular online payment system and is used by millions of people around the world. With advantages such as easy to use, safe, and many choices of payment methods, PayPal is the best choice for making online transactions. However, PayPal also has some fees that vary depending on the type of transaction. Thus, users should understand PayPal’s fees and security before making online transactions.
