Some of the common questions when it comes to buying anything on the internet is “how to pay for the product?” and, “how secure is the buyer?” and the financial security of shopping on the internet. Nobody wants to lose their money or get anything different from what they purchased or financial records exposed to people who can steal their money.
Paypal is one of the online services that provide financial help by using a secured online account. It allows one to pay an online purchase by sending money safely and also send and receive money worldwide. One simply needs to add a credit card, bank account, and debit card information when one needs to use a PayPal account.
The owner has the privilege of using any account that he deems fit that has the sufficient amount required by the owner. The owner also has the chance to choose his or her default payment means to pay unless chosen otherwise by the owner. There are two accounts in Paypal;
- Personal account- This is an account for one’s personal use as the name implies. This is mostly for a person who uses the account for his or her own benefit. This is an account owned only by one person.
- Business or Merchant Account- This is usually for businesses to pay or receive payments from online transactions where one has an online shop where you sell your products. This also helps entrepreneurs who are freelancers who may prefer to be paid through Paypal.
Reasons as to why to use a Paypal Account.
- There is the security of credit card usage. When one wants to get a Paypal account, the credit card and bank account one wishes to use in online purchases and payments are required. The moment that one has entered the information is not required online going forward thus making it secure.
- Paypal helps to avoid humiliation in the situation where one is unable to buy goods or services online just for the credit card to be rejected. This can be evaded by the use of PayPal since one is allowed to put several bank accounts with credit cards and debit cards which are used to finance the Paypal Account.
- Paypal is also used to send money in whatever part of the world that one is in. It is flexible since it allows one to send money to anyone on the planet just by the click of a button. This helps to save time and resources over other methods of transferring money which requires one to be physically present.
- Paypal is enhanced with online auctions through eBay. This ensures that one buys and makes bids online safely as it has purchaser protection and a simple system that is structured for complaints and its resolution procedure.
Paypal has special sponsors who usually offer discounts to loyal customers who use Paypal at some chosen retailers.
Requirements of a Personal Paypal Account.
- One has to have a personal bank account which will be used with the Paypal Account.
- One has to have a National Identification Document (ID) which will provide the names and also the one applying must provide the address, phone number, and also email address.
- The owner is required to create a password for the new account and select 2 security questions in case one misplaces their passwords. After signing up for the account, one can start receiving money immediately and also start sending money for anything they purchase online.
Paypal is an account that one in an online business must have if he or she wishes to take the business international or online. This will enable to attract customers who may not be able to physically go to the shop to buy the goods in person. This enables the customers to buy the product by the click of a button just at their comfort.
This is an account that is essential for the growth of an online business to move to the next level. It is also essential for people that travel around the world who may need to pay for something without cash. It will avoid the embarrassment of the credit card being rejected by the producer of the good or service.
Paypal is one of the accounts that are necessary for the day to day activities in this modern world we live in today.