PayPal is currently the most popular payment system in the US. In Poland, however, it continues to gain popularity and recognition of users. In today's article, we'll cover all aspects related to PayPal and explain how payments look using this system.
What is PayPal?PayPal is a payment processor with which you can make a secure online payment. The payment may concern any service or product, and is done using the appropriate e-mail address assigned to the account. The first voices about this system could be heard already in 1998. In 2002, the brand's popularity increased significantly because it was bought by eBay. PayPal payments are present in 190 countries, and in 23 the system has its own, individual site. It is also worth mentioning that the described payment processor supports up to 25 currencies, which is why the purchase of products from abroad is not a problem. In 2016, the number of PayPal accounts exceeded 179 million, which is the largest number among all electronic payment systems.
Why PayPal?PayPal users often isolate such, here are the advantages of the system:
- Quick possibility of attaching a standard debit card, thanks to which we will pay using the system in online stores or on auctions.
- Payments with PayPal are characterized by high security. All users are covered by the buyer protection program. In the event of a seller - fraudulent means are automatically returned.
- No costs for creating an account.
- Most of sites that pay for completing surveys, copy writing, promote products, affiliate companions, have paypal as withdraw option,
- You have possibility to transfer money to your account, from any place you live,
- From earning site to paypal, and from there to your bank account.
How much it costs?Creating an account with PayPal is completely free of cost, and we can make a transfer in several ways. The First way is to connect your credit or debit card. Thanks to this, using PayPal, funds for shopping are collected directly from the card, so you avoid the need to top-up your account. In this case, however, a commission of 2.9% of the transaction amount is charged. The second method involves making a standard transfer from your bank account to your PayPal account.
Transfers between system users do not cost anything. The fees appear while receiving payment for the transaction. The commission on revenue is from 1.9 to 2.9% and each time, but Traders can, however, apply for a special commission rate. International commission is charged on both the payment and the receipt of funds. For the necessity of currency conversion, a separate fee is charged, consistent with the established Table of Fees.
The process of setting up a PayPal accountCreating an account with PayPal is extremely simple:
- All you need to do is go to www.paypal.com and click the Create account button in the upper right corner.
- Then you have to choose whether you want to set up a personal or company account. In the next step, enter your details. Remember that they will not be shared with anyone.
- Now you have to enter your exact data. They must be identical with the credit card details, so do not be wrong.
- The last step is to connect the credit card you own. If you do not decide to give your credit card number - do not worry, you can do it later.
- At this point, however, check your e-mail and approve the account creation.