Introduction to Paypal
To facilitate transfer of money between the two parties over the internet, an online payment service named as PayPal was founded in 1998. You can make the payments for services, goods, online donations etc. PayPal is very fast, safe, secure, and the easiest way to make the payments.
Requirements to make the payments –
If you have an email address and a bank account or a credit card number, then you can use PayPal for the payments. All the information about your credit cards and bank are not revealed to the other members or users which makes it much more safe and secure.
PayPal Fees –
As you all know that in this competitive era for every service which you are using, you have to pay some fee. So with PayPal also this rule applies. The PayPal services are not free, However you need to pay a small percentage of the money transferred whenever a transaction or transfer is made. Also transferring money from your bank account to your PayPal account is done at no charge. As per the recent studies, it has been noticed that in mobile transactions alone PayPal exceeded six million dollars ($6 Million) per day.
Getting Started –
PayPal is very easy to get start with and this fact has contributed towards their success over last 10 years. There are approximately 94.4 million users of PayPal services worldwide. It just takes few minutes to register/sign up for an account over PayPal after which you can link your credit card & bank to your account just as fast.
As PayPal is having millions of users so if you are a merchant then it would be a wise decision to consider PayPal as a Payment gateway option and they may benefit from the following services from PayPal:
- Authorization and Capture
- Recurring Payments
- Reference Transactions
- Refunds
- Reporting
There are lots of things which is there for the PayPal but all those cannot be explained together in one article but still we have tried to cover up the important points.
