Electronic payment platforms like PayPal are on the rise , these digital payment means are increasingly being used instead of cash, but what was there before Google Pay, Samsung Pay or Apple Pay? just before the arrival of all these platforms, the use of this reliable and secure service had already spread.
The main and great advantage of PayPal is that you do not need to use your banking instruments to make payments , a brief registration will be enough (which we will talk about later) so that you can have a fully functional account on the platform with which you can pay and also receive other people’s money.
You must have, of course, your own means of payment such as a card or a bank account to which you can affiliate the service , either because you are going to make a payment with PayPal as a means, or to be able to send the funds you have within of the application.
Scams and the theft of bank data were the ones that gave rise to this platform, because when registering a means of payment in the vast majority of websites with a virtual store, it will be enough for you to execute your payment through PayPal and you will not have You put your credit card number and no other personal information.
How to create a US PayPal account
PayPal since its inception
The well-known Ken Howery, who is a respected American businessman and currently works as a diplomat, created together with the software engineer Max Levchin, a robust platform in 1998, it is PayPal and his proposal was simple, to create an online tool in the that you could have your money no matter where you are or where you want to send it.
The advantage of PayPal is that you can not only send payments, but also receive them, exchange funds between users of the platform and in most cases the commissions are quite low.
Currently, its payment system by means of a QR code has been booming, which allows the user not to need to establish contact with another device or deliver any means of payment, thus collaborating in the care that must be taken during the pandemic due to COVID-19.
Buy and sell with PayPal
As we pointed out before, you can use PayPal to buy and sell Internet products, because it offers the highest possible security in transactions. The platform retains the funds paid until the buyer has confirmed that they received the product and any inconvenience leads to a dispute in Paypal .
These mechanisms give the opportunity that both buyer and seller have greater security in the entire transaction and both parties, after trying an agreement through amicable means, will have the opportunity to prove that they are right in the situation that arises, and finally PayPal will grant funds to the correct party.
In PayPal you can choose to have a personal account , which you will use to carry out transactions, purchases and reception or sending of funds between users. There is also the Business account that is available for the commercial area and is the one that the web pages and stores will use to receive the money corresponding to the value of the products they sell.
What you should know about using your PayPal account
- Currency conversion, that is, that you need to pay or receive money in a currency other than yours, you will have to pay for that transaction, specifically 3.5% of the total amount.
- If you receive funds in PayPal you will have to pay a commission for it from a certain amount.
- In the case of Business accounts, the greater the volume of the seller’s operations, the much lower the commissions that he will have to pay for the payments received and the currency conversion.
- If you make an electronic purchase with PayPal in a store, the transaction will be free and in this case it will be the seller who has a Business account who must pay the platform for the use of these services.
- PayPal has a website and also has a mobile app for all operating systems.
How to withdraw funds in PayPal
Withdrawing funds in PayPal is quite simple. In cases where you have received money in your electronic wallet and if you have a balance that you want to use outside of the platform, you can withdraw it and send it to your account or your card , as we discussed earlier.
If you want to send your money to your account or your card it will be free , but if you want it to be paid immediately then you will also have to pay a commission for it, although do not worry that it will never be too much; and if you do not have urgency you can make the regular shipment that takes 24 or 48 hours to pay.
Is it safe to use PayPal?
Using PayPal is a safe means , especially, because as we pointed out at the beginning, you do not need to provide bank or personal information in the places you buy. However, data theft and phishing attempts is one of the problems that occurs on this and other electronic platforms.
Therefore, it is necessary to remember that PayPal will never request personal information, access data and passwords from its users through email and thus people avoid being victims of an online theft and scam.
The recommendation of the platform is to make periodic password changes and also regularly review the charges reflected in the account to determine if there are any that are not recognized.
PayPal has an encryption system that works at all times for all accounts. This will prevent any type of fraud and unauthorized movement. In case of a problem with a purchase and with a transaction that is not recognized, each person has 180 days to request a refund and generate the alert.
Is it worth using PayPal?
Definitely yes. Using PayPal is one of the best decisions , especially since it is a robust platform that has been maintained over time and has grown stronger. Its use is quite universal and allows people to use it more and more to make payments.
Most eCommerce, such as eBay and many others, support payments through PayPal and this complements all the security for the buyer when buying a product. In addition, the use of personal data decreases on all platforms and there are fewer traces to be victims of electronic fraud.
PayPal, in itself, can function as a kind of electronic wallet or balance account, in which you can store money that does not necessarily need to be backed by the balance of your card or your bank account.
Finally, PayPal allows you to receive money in your account in different currencies , although later you must pay a commission for the change to your original currency, it is a simple, safe procedure that you can do directly without depending on a third party and you will not have to use the service of a third party for this.
