PayPal is an online payment system and an American based company. It is an electronic alternative to paper methods like cash and cheques. It supports online money transfers and helps in business and shopping.
In 2014, PayPal came out of eBay and became an independent trading company. PayPal later acquired Xoom corporation in 2015, which is a digital money transfer company and in 2018, PayPal purchased iZettle which is a Swedish payment company. These are just two most popular companies but PayPal has acquired many more companies too alongside some of them being TIO networks, iron Pearl, Venmo, Bill me later, Fraud services, hyper wallet and swift financial. With all that being said, we know that PayPal stands as a huge Online Payment company at all times.
Features of PayPal Account
PayPal stands always as a safe and secure online payment channel. It has set its standards for fraud protection in all payment channels including online, offline and mobile payments. Paypal operates on the leading industry technologies. It has a 24×7 account monitoring feature. Also, the clients personal and financial details are encrypted with PayPal and are always safe with them. All transactions are monitored within milliseconds and check for fraud risk model each time a payment is made.
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Debit and credit card details are linked to PayPal once and then there is no need to repeat the process. One can shop without showing card details with ease. It handles chargebacks and provides best in hand risk management facility to its users. PayPal transactions are protected by TLS 1.2 technology for PayPal.com Login accounts. PayPal offers protection of personal data in case of misuse, misplacements and disclosure. But PayPal does not protect if user offers personal information to any third party dealers outside payments.
The most distinguishing feature is anti-phishing, anti-spoofing, 2FA. Two-factor identification popularly known as 2FA is the main key to security. Users are asked not to share password, PIN or OTP to anyone for safety reasons and protect against fraud operations. Online security, fraud prevention and Phishing are the three main feature that has made millions of users around the world to use PayPal without a second thought.
PayPal Accounts
To open a PayPal account, one can easily achieve it online via PayPal.com Login account page. Sign Up with PayPal at their website. You have three options to choose from say if it is for a shopper, for a business, for a freelancer. Once you sign up for the shoppers, you get 50% payback for your first PayPal purchase. For business and for a freelancer, you sign up, submit KYC documents and get paid for the services. Read the terms and conditions for all three accounts sign up in the PayPal.com Login account page.
For business and freelancer, you are asked to enter your PayPal email id and new password details. Business type option has to be chosen if it is an individual, sole trader, partnership, corporation, corporate body or government entity. It is followed by choosing the business category to be it arts, books, food etc., subcategory details, purpose code, PAN card details and business URL if any. KYC documents are collected and your PayPal.com Login account page is verified. The next time onwards to check your payments and history. The signup procedure is the same for freelancer signup activity as well. Once your PayPal.com Login account is created, you are free to use it anytime and anywhere.
