Thursday, March 28

How does PayPal work?



It is clear that PayPal is a payment platform that practically everyone knows. If you have never done any task with it and you need to know how it works, follow us and we will give you all the information.

Everyone who buys on the Internet, sooner or later, will run into PayPal at some point. So it is highly advisable to know how this payment system is and how it works.

It is widely used throughout the world and it is not surprising, since it offers a few very interesting possibilities for any purchase we make online.

PayPal is one of the safest systems to make any type of payment or receive money, eradicating the fears that existed years ago with this type of payment, thanks in large part to its powerful encryption system and its customer service, where protects us from possible fraud.

What is Paypal?

PayPal was created in 1998 by Ken Howey and Max Levchin, becoming years later the best-known online payment system in the world.

The main features of this software is the safety, reliability and the options you present to your customers.

In PayPal not only make payments, but we can also send money or receive it in our different accounts. This means that we speak of “more or less” a virtual wallet.

Now you know what PayPal is.

PayPal the most used system in second-hand purchases, eBay, etc. In this type of transaction, possible scams are more frequent, so we are going to explain how to ask PayPal to return your money if you have been scammed.

How to open a PayPal account?

Now that you know what PayPal is, you should know that you can link bank cards (debit or credit) or bank accounts, knowing that their numbers will never appear in any operation.

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To achieve this, the first thing is to create a PayPal account as follows:

  • First we enter the PayPal website and choose the option Create an account in the private column.
  • Then we fill out the form that appears in the image above.
  • We accept the terms of use and click on To accept.
  • You will have to enter the code shown in the image and click on Continue.
  • Next, we will see the option to pay with your bank account or card. We choose the one that suits you best.
  • Then we must fill in the information that PayPal asks us.
  • If we have chosen the Bank accountwe must introduce all the digits and in the card casealso, in addition to expiration and CCV.
  • Now you will have to confirm the use of PayPal in your bank account or card.
  • If we choose the bank account, the process to verify it is that PayPal will make a few small transfers to it. At the time we check the statement, we will have to enter the exact amount to confirm that we really are the account holders.
  • If we link the debit or credit card to PayPal we can start buying immediately.
  • The verification of the bank account takes a few days, so we must wait for the notification to appear to confirm it 100%.

How does PayPal work?

For practical purposes, with PayPal you can pay at any online store without having to provide a single piece of information from our credit card or bank account, which is a great security measure.

PayPal’s system is very simple and at the same time protects its buyers. That is, when you buy something online, this service holds the money that is paid for the item until the user confirms receipt of the product.

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If you have bought something and it has not arrived, for whatever reason, you can always complain to the seller or open a dispute in PayPalalthough the latter requires having written to the seller several times before.

In the event of a dispute, PayPal will try to mediate between the different parties at first, and then analyze the situation and resolve the case in your favor or not.

Still not benefiting from the advantages of Bizum? We tell you what it is and how it is used and everything you need to know about this mobile payment platform.

Buy on PayPal

Buying in any online store with PayPal is really simple.

You just have to fill the basket in the normal way on the shopping website and when you have to pay, look for the sign on the website where it says Pay by Paypal. You must bear in mind that not all websites allow you to pay with this system.

At that time they will take you to PayPal so that certify that you are (username and password) and so that you can choose payment method that we want to use, that is, if we pay by card, bank account or with the balance that we could have within the tool itself.

Send or receive money

This is another faculty that PayPal grants us and that allows send money to friends or family, without costing us anything extra. The only case in which we would have to pay something is if we pay in different currencies.

Another way to pay is using the balance that we have accumulated in PayPal. In order to have said balance, you may have won it in a promotion or deposit it in the balance from your bank account.

Advantages of PayPal

In short, PayPal has many advantages to pay online or send/receive money.

The main ones are:

  • Security: it is the main advantage both for network payment and for receiving or sending money
  • send or receive: we will be able to send and receive money from friends or family and at no cost, so this is another great advantage.
  • Speed ​​of payment: between how quickly it is paid and that we can choose the method, it is evident that it is a great option that is really interesting
  • Free: When we buy, the PayPal service is free, so we don’t have to worry.
  • Smartphone: having a smartphone version is a great advantage, so we won’t have to use the browser and all the operations will be carried out from the mobile phone in a simple way.
  • Possibility to claim: not only will you be able to claim the seller for any type of product defect, knowing that, if the person who sells us does not respond, the claims department will enter to do their research and determine who is right.

Now that you know better what PayPal is and all the services it has, you will understand much better what it means and how to use it the next time you enter a website that has this service as a form of payment.

Also, since you can send money to friends and family, it will be one more reason to have an active PayPal account.

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