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What is PayPal

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PayPal is an online payment services that allow individual and businessmen to transfer funds or money electronically.

PayPal is an online payment services that allow individual and businessmen to transfer funds or money electronically. PayPal can be used for online auctions, purchasing goods or services and to make donation. PayPal can also be used to send cash to your relatives.  The ideas behind PayPal that it uses encryption software that allows people to make financial transfer between computers. Nowadays, PayPal has turned into one of the world's primary methods of online payment.

A basic PayPal account is free. The Funds can be sent to anyone with a valid- email address. The other side will get message from PayPal about the funds. And the receiving end has to sign up their PayPal accounts so to get authorized for money transaction. Funds transferred via PayPal remain with the PayPal until the holders do not take out their amount. If the user has entered and verified their bank account information, then the funds can be transferred directly into their account.

By providing valid account and current credits cards details PayPal confirms users address. Only after confirming address of both buyers or sellers and sender or receivers PayPal allows to have transaction so that any fraud can be avoided. PayPal also facilitates money transaction either by cash, credit cards or simply money transfers to the bank account of users.

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Posted on: July 3, 2009

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salim
July 12, 2012
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