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What is paypal, what is it for and how does it work

How PayPal works, It is something you need to learn because it is the most famous electronic payment company in the world and therefore if you are in e-commerce or it attracts you and you want to get involved, it is the payment method with which you can receive and send money anywhere in the world.

How paypal works and what is it for

You already know the basics about how paypal works, but you need more information, then paypal is used to:

  1. Surely you make purchases online, because all these purchases can be paid with paypal.
  2. If you sell an info-product or a physical product online, you can charge those sales with paypal,
  3. Beyond purchases and sales, with PayPal you can also receive and send money directly to your friends or family.

How PayPal works

  1. Paypal as an online payment platform is a system for paying or sending money from your free registration on its platform.
  2. Any person or company can register on the website and use their email address to receive and send money.
  3. The sending of the money is instantaneous and you do not share your financial information with the person or company that receives the payment.
  4. Once you open your PayPal account and need to make an online payment, you can choose to pay with your bank account, with your credit or debit card linked to the site or with your balance in your PayPal account.
  5. When you make the payment, as it is carried out instantly, the recipient will receive an email from Paypal announcing that they received a payment, the value of that payment and the name of the sender, therefore the recipient must create a free PayPal account to be able to withdraw the funds from your account as they are transferred to your bank account if that is your choice.
  6. It is the payment method that provides you with greater security because the information you provide to the site is confidential, therefore who you send your money to does not receive your personal data such as your bank account or your credit card and also uses a technology encryption called 128-bit SSL, as it is the technology that is responsible for the protection of all your information.
  7. In addition to this, it also protects buyers because when you buy a product online you may decide to request a refund of the money or part of it, because with PayPal you can do it and it also protects you by offering up to 1000 euros in some cases such as when not you received the product you requested to buy, when the product you received is different from what the seller described in the publication of his product and if someone entered your Paypal account and without your authorization made a transaction, they are protection policies buyer.
  8. But Paypal also has seller protection policies, since sellers do not have cancellation, maintenance and registration costs.
  9. Sellers can access their transaction history in their own account and keep track of sales.
  10. Sellers are allowed to accept that buyers make payments with their account balance, with a bank transfer or with a debit or credit card.
  11. It opens a magnificent field of expansion for sellers, being able to sell their product to the whole world, since Paypal stands out for having more than 150 million users distributed in 190 countries.
  12. The seller benefits by accepting payments with Paypal because they can add the logo on their products and obtain a better web positioning of their site, because users who search for their product will access the website where the logo is displayed instead of doing it to their competition. who did not add it.

How to open a Paypal account

You will check how paypal works, by opening a free account on its official website:

  1. First of all, you must select your country and language and then choose if you want to open a personal account, the ideal one if you need it to make purchases or receive payments online.
  2. You can also choose a Premier account if you are a buyer or seller who will accumulate and withdraw important funds in your account.
  3. You will choose a Business account if you represent a company that makes sales online.
  4. Once you choose the type of account that suits your needs, you will have to complete a form to register your email, you will create a password for the site, your personal data, including your postal address, your first and last name, the type and number card that you will link and your phone number.

What is Paypal?

Paypal is a United States company, Pay Pal Holding Inc. that offers an electronic payment system in practically the whole world and the most used as a platform for the transfer of money between users.

The most popular online payment system that left behind other payment systems such as sending money orders or checks.

In conclusion, it is an electronic payment platform that works between private users, between users and companies and vice versa, in auction sites for the payment of products and commercial entities, both physical and virtual. All of this is possible through a fee charged as a commission.

Paypal how it works

Therefore Pay Pal Holdings Inc. or PayPal as it is popularly known, is a platform for online payments or electronic payments to transfer money between users, between private users and companies or vice versa that works with security policies for both the buyer and the the seller and does it in a simple way by registering for free to create an account and start using the platform to also transfer money to friends and family.

How PayPal works

PayPal works in a simple way to buy everything you want online in the auction sites without having to give your credit information, your credit card details to the recipient, as these data are recorded in your account when you register and never more will request them.

How credit cards work

Credit cards work as a means of payment. that from a certain amount of funds, you can use them to pay in a single payment or in several according to the capacity allowed by the online or physical store where you make the purchase.

What is a credit card for?

Your credit card is used to be linked to your PayPal account, because it is likely that you are interested in a product on the network and you do not have enough funds in your PayPal account, but since you linked a credit card, at the time that your funds are scarce, the necessary funds will be debited from your credit card, as PayPal always prioritizes the funds in your account before withdrawing funds from your credit card.