is an American company which deals with online payments supporting money transfer online. The concept of PayPal is simple and efficient which uses encryption software which allows people to make monetary transactions electronically. log in Account

The basic things for which Paypal is used are sending or receiving payments for online auctions at various websites, purchasing or selling goods and services, make donations and for exchanging cash with other people. Funds can be sent to anyone with an email even if they do not have a log in account.

The basic accounts are free and many financial transactions including the purchase of merchandise can be done via PayPal. With a log in account, money can be withdrawn or added in different ways. The account can be associated with the bank which makes transactions direct and easier.

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How PayPal makes money?

PayPal makes money in two basic ways. The two ways are as follows:

  • They charge fees on payment’s recipients. For the average user, the transactions are free but some amount is taken as fees by the merchants.
  • It collects interest on the money which gets left in the PayPal accounts.

PayPal also offers high-security features. Other websites and service providers make such transactions by using the details of the customer that goes from the buyer to the merchant to a credit card processor while it stays within in the case of PayPal.

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Types of PayPal accounts

The types of PayPal accounts include the following types:

  • Personal– It gives them access to core features, provides the customer service via an email or even through customer support agents at the website.
  • Premier accounts should be linked to a business, group or individual.
  • Business accounts should be linked to a professional and verified business group. Multiple users can access the business account. Also, both premier and business accounts provide debit and credit card payments, setting up recurring payments or subscriptions and unlimited use of PayPal ATM and debit card is provided. They mainly include functions such as sending money, requesting money, use of various auction tools, carrying out payments from a website, debit card and customer services.  

Advantages of using PayPal

  • The credit card security provided by PayPal is highly secured. The credit card information is kept private.
  • It is highly flexible in providing services as a hassle-free purchase can be done using Paypal because it allows the creation of a number of accounts.
  • The money gets transferred in just a few clicks which save time and money.
  • The iPhone app is also available which is highly reliable as it always asks for confirmation before a transaction.
  • PayPal is integrated with eBay which means with an online auction powerhouse which allows the person to make auctions and bids safer with full security and protection.
  • One of the best advantages of having a log in account is that it is absolutely free of cost. There is no membership, processing, service charge fee. This is a huge advantage for PayPal users.
  • PayPal offers special discounts which are sponsored which lets individual save money by using various promo codes.
  • PayPal has invested in customer service front and excellent customer service is provided to its users.
  • An inventory management feature is provided by PayPal under the merchant tools.

Also, three different apps are associated with PayPal mainly the original PayPal app which allows sending and receiving money from friends and other sources. The Paypal Business app is designed for business owners involving the purchase, account activity and invoicing and lastly the PayPal Here app which is a system of mobile point of sale.