One of the biggest obstacles we still have to overcome when selling on the Internet is the traditional belief that buying on the Internet is not safe.
With systems like PayPal, a platform from the US company PayPal Holdings Inc, the international e-commerce landscape has taken a dramatic turn.
In this article, we’ll look at how it works and how to set up a PayPal account, depending on what you need to receive or make payments.
What is PayPal and how does it work?
It is rare that an e-commerce store today has not included PayPal as one of the payment methods to receive payments over the Internet and facilitate business transactions with its users around the world.
The main reason why buyers and sellers trust PayPal so much is simply the middle way between the banks and companies that sell online. In other words, it is not a bank.
Opening a PayPal account means that you can safely trade multiple currencies because although it is not a bank, it operates under the same U.S. government agencies for financial and financial powers.
We can register for free and set up a PayPal account:
- Personally to buy and send payments.
- Companies to sell and receive payments.
In general, the way it works is similar to a current account (with some differences) that protects your information with advanced encryption systems. This is how it is defined on the PayPal website.
Advantages of opening a PayPal account
When it comes to protecting your data, this platform offers excellent guarantees because it has security systems and fraud prevention, as well as comprehensive guidelines for buyers and sellers. Think carefully:
- Personal and financial information is encrypted on PayPal and never shared with sellers.
- Purchases are fully protected by the Buyer Protection Program.
- PayPal monitors every transaction in real time to prevent fraud such as phishing or identity theft.
And if you choose to pay with PayPal, you can:
- Open a completely free account (we’ll see later).
- Link a card to make instant payments without crediting your PayPal account.
- Buy on a large number of websites and online shops where you are sure to find your favorite brands.
- Make transactions in multiple currencies, without restriction when sending or receiving money internationally.
- Make free domestic transfers between users with a PayPal account or international transfers without bank charges (the seller supports the PayPal commission).
- Request a refund if you do not receive the requested product or if it does not match the description given to you by the seller.
- With One Touch, you can shop securely and quickly without having to remember your username or complex passwords.
It’s clear that opening a free PayPal account has many benefits for consumers, but look at what it has to offer businesses and companies:
- Tools, supplier protection software and PayPal integration guide for your business so you know how to send invoices, as well as buttons and a shopping cart on your website.
- Possibilities to receive payments on your website, including the “Pay with PayPal” button or directly by email, as there are several payment formats even for those who don’t have the web.
- Personalised link with PayPal.me that you can share via mobile phone, email, chat or social networks to receive instant payments online.
- Automatically protect the merchant in the event of an unauthorized payment or demand from one of your customers, so the money is temporarily stored until you have it under control.
- Process guide to any problem caused by a chargeback or request for funds to be returned by the buyer.
How do I create a PayPal account?
- You can create a free private or business account (with tax number or ID) on the New Signup homepage.
- It completes the entire registration process and can optionally answer individual questions about taste and purchasing behavior.
- Throughout the personal information registration process, it is extremely important that you accept the terms of PayPal’s policy.
- To activate and verify your account, you must link a credit or debit card to it.
How do I pay with PayPal?
After verifying your PayPal account and considering that you can only assign one credit or debit card per account, you only need to access the right column “Accounts and bank cards” – “Link account or bank card”.
It is important that you make the confirmation, PayPal will make a small symbolic deposit that will be available in one or two business days.
Now you can pay with your account. If you don’t have credit on your Paypal account, it doesn’t matter, because the payment is made with a charge to the credit card you just linked.
How to recover or change your PayPal password
If you access your PayPal account via the Internet (PayPal login) and have forgotten your password, select “Problems logging in” to select various recovery options (email, phone, SMS, security question or card number check).
How much does it cost to receive and pay money?
The first thing you should know is that PayPal does not charge opening fees or fees for withdrawals from your bank account, canceling your account or sending money to friends and family in your country.
If you use your account for purchases, your transactions are also commission free as the seller bears these costs.
If you’re the one receiving the money to sell products or services, don’t forget:
- You can only get free money from friends and family who have nothing to do with currency conversion.
- To sell your products or services in your own currency or for currency conversion, you need the valid PayPal Fee Schedule.