What is Paypal? What it is for and how it works
What is Paypal?PayPal is a company in the e-commerce sector, whose system allows its users to make payments and transfers over the Internet without sharing the financial information with the recipient , with the only requirement that they have email. It is a fast and secure system to send and receive money .Paypal processes transactions for individuals, online buyers and sellers, auction sites and other commercial uses. Most of its clientele comes from the eBay online auction site, a company that bought Paypal in October 2002.What is PayPal for?Pay for purchases made online.Charge sales made online.Send and Receive money between family, friends or individuals.How does PayPal work?Sending money or payments through Paypal is free. The recipient can be any person or company, whether or not you have a Paypal account, that has an email address.The payment option is chosen:With credit or debit card.Paypal Account Balance.Bank account.Paypal sends the money instantly, without sharing the financial information with the recipient.The recipient receives the Paypal message about the funds, and will have to create a Paypal account (in case they do not have one) in order to withdraw them or transfer them to their own bank account.How to open a PayPal accountSelect the country, language and choose the account mode:Personal Account (For individuals who buy).Premier Account (For individuals who buy and sell).Business Account (For companies that sell on the Internet).Fill in a registration form with the email, a password, name, surname, postal address, telephone number and type of card.Why PayPal is a safe method to make payments and money transfersPayPal is a secure method to make payments and money transfers because it uses 128-bit SSL encryption technology to protect all confidential information and the recipient never receives financial data such as card or bank account number or personal information.In addition, it offers protection programs, where the buyer can request the total or partial refund of his money. PayPal offers up to 1,000 euros of protection for:Items not received.Very different items to the description of the seller.Unauthorized transactions made from your Paypal account.Advantages of using PayPal for buyers and sellersAdvantages for BuyersFree service, no commissions or fees.You just need to enter your email address and password to make payments.You will not have to enter your card details on each purchase.Financial data is not shared with the seller.Option to choose how to pay: Card, Bank Account or Paypal Balance.Purchases protected up to 1000 EUR for the Protection Policy.Advantages for SellersNo registration, maintenance or cancellation costs.Control of all your sales and access to your transaction history from a single account.You can accept payments with Card, Bank Transfer and Paypal Balance with total security.Wide international market with more than 150 million users in 190 countries.The Paypal logo in the search results highlights its articles on those of the competition.