PayPal ranks among the most trusted online payment service providers. In order to start making personal or business transfers, you have to create a PayPal account. Opening an account of either type is free. It gives people an opportunity to convert money into more than 24 national currencies. PayPal strives to be present as a payment method in every store so that everyone would be able to use it when shopping online. Its efficiency and security make PayPal one of the major payment systems in the world today.
PayPal isn’t a banking institution, although in some regions (Europe for example) it has a right to perform bank operations. PayPal has launched a partnership with CUP (China UnionPay) to give users in China the opportunity to make online payments. As of now, Chinese citizens and residents can pay using PayPal.com .
Creating a PayPal account is the most appropriate way to start sending money online. You can ask your payee to give you a PayPal invoice. Then you don’t even need a PayPal account and can pay the invoice using a debit or credit card. Having a PayPal account means better protection of your rights as a customer: you can get a refund if something goes wrong (e.g. you receive defective goods). If a PayPal account isn’t connected to a bank account or a credit card, it is still possible to fund it and pay for services and purchases made with PayPal.
With PayPal you don’t have to tediously enter your personal data every time you make a payment online: this information is saved once you’ve made your first payment. As the result your bank account and credit card details remain unknown. Reliable privacy protection is one of the main reasons why so many people choose PayPal.
There are two types of PayPal accounts :
Personal Account : Owners of personal accounts can send and receive money.
Business Account : A business account allows you to make business-related payments and sell goods on the internet.
There’s even a mobile version of PayPal: you get the same services that you have on PC or laptop by simply downloading the app (it is free). You can pay in an instant just by pressing the button “Pay Now
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