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What Is PayPal ?

What Is PayPal ?

PayPal is an online payment service platform in which you can transfer or receive money in a secure way by including your bank account, credit card and debit card. PayPal Holding Inc. is an American company.

You can also use a PayPal account to pay for online purchases.

In PayPal, you can open two types of accounts “Personal Account” and “Business Account” . If you have a business and you want to open an account for its use, then you can open a business account.

If you want to open an account on PayPal for your personal use, then you can open a personal account.

In an international survey conducted by Morning Consult in March 2021, PayPal has been named the second most trusted brand globally.

What is the meaning of PayPal?

PayPal means "Paying Your Pal" which means "Pay Your Friend".

PayPal is an online payment service that you can use to send and receive money to someone online, to pay for online shopping, or to pay for money at a store.

How PayPal Works?

Friends, PayPal allows you to transfer money in a secure way.

In PayPal, you get two options Personal Account and Business Account. You can use a personal account to send and receive money to your friends and to buy anything.

You can use the business account to make money transactions online in any of your small or big business.

In PayPal, you can do online transactions by linking your bank account, debit card and credit card.

How to download PayPal App?

PayPal app is available for both Android and iOS devices, you can download PayPal app very easily from Google Play Store in Android and Apple App Store in iOS.

So let's know how to download PayPal app on Android and iOS.

How to Download PayPal App in Android?

Step 1: To download PayPal App in Android, open “ Google Play Store ” .

Step 2: Now search by typing “PayPal” in the “ Search bar” shown above .

Step 3: After this, on the first number you will see an app named PayPal, click on it.

Step 4: Now you will see the option of “Install” here, click on it.

Step 5: As soon as you click on Install option, PayPal app will be downloaded in your Android Phone.

How to Download PayPal App in iOS?

Step 1: Open “ Apple App Store ” to download PayPal App on your iOS Phone .

Step 2: Now you will see the option of “Search” above , click on it and search by typing “PayPal” .

Step 3: After this, the PayPal app will appear on the first number, click on it.

Step 4: Now you will see the option of “GET” here, click on it.

Step 5: As soon as you click on the GET option, the PayPal app will be downloaded in your iOS phone.

PayPal Features -

1. Individual Account

Friends, in PayPal you get to see two types of account types, one of which is this. You can open an individual account for your personal work.

2. Business Account

If you have a small or big business, then you can use this type of account for your business.

3. Dashboard

In PayPal, you get a dashboard where whatever money you have in your PayPal Wallet will appear on the dashboard.

4. Debit Cards and Credit Cards

In PayPal, you can link your bank account as well as debit and credit cards with your PayPal account and transfer money or do online shopping etc.

5. PayPal Wallet

When you open Paypal, you get to see Paypal Wallet on the dashboard. Whatever money you have in your PayPal wallet, you get to see it there.

6. Barcode Scanning

In the PayPal App, you also get a barcode scanner, through which you can make payment by scanning any payment code.

7. Shopping Cart

You also get to see the shopping cart option in PayPal.

8. Online Security

PayPal works with a unique transaction mechanism that protects the transactions of both buyer and seller. PayPal keeps the money in the account for 180 days in case of any fraud or scam and till no concrete evidence is found.

9. Fraud Prevention

Each incoming transaction is monitored and analyzed within milliseconds to help identify and prevent fraud before it occurs.

PayPal's sophisticated fraud risk model and analysis tools can be tailored to your unique business needs, so you can receive fraud protection.

10. Phishing

Online fraud is becoming more sophisticated – making it harder to know whether an email, SMS or website is genuine.

It is very important that you learn how to detect counterfeits so that you stay safe online. If you believe you have received a phishing email, do not respond to it and do not click on any links or open any attachments.

Simply forward the entire email to [email protected] and delete the email.

12. PCI Compliance

PCI DSS (Payment Card Industry Data Security Standard) is a set of broad requirements that all businesses handling credit and debit payments must adhere to, regardless of the size or number of transactions to be processed.

13. Bill Me Later

Friends, through this service you can buy anything online instantly without paying money. Any payment you make will be debited from your credit card later.

14. Multiple Currency Support

In PayPal, you get to see the currency of many countries. You can also convert your currency to another currency according to the exchange rate.

15. Multiple Language Support

A total of 20 languages ​​are available in PayPal, due to which it becomes easier to use.

How To Create PayPal Account ?

1. Open the official website of PayPal.

First of all, open PayPal's official website PayPal.com in your smartphone - computer .

2. Click on Sign Up option.

After opening the PayPal website, now click on the sign up option.

3. Select your account type. (Individual or Business)

After clicking on the sign up option, these two account types will appear in front of you, Individual and Business, from which you can choose any one type according to you.

4. Now verify your mobile number.

After selecting the account type, now enter your mobile number and verify it.

5. Now fill all the mentioned information. (Name, Email , Password etc..)

After verifying the mobile number , now fill all the information like Name, Email Address, Password etc.

After filling all the information, now your PayPal account will be opened.

Watch Video Tutorial, How To Create PayPal Account:

How To Use PayPal - How To Use PayPal?

1. Select your account type.

Friends, in PayPal, you get the option of two types of accounts, Individual and Business, from which you can choose any one type according to your need.

2. Sign up new account.

After selecting the account type, you have to sign up in PayPal, in which you have to fill all the information that will be mentioned and you have to open your new PayPal account.

3. Link bank account.

After signing up your new PayPal account, now you have to link your bank account in PayPal by entering your bank account information in it.

4. Add card details.

After linking the bank account, if you want to link your debit and credit cards, then you can also link them.

5. Send and receive payment.

After entering all the details in your PayPal account, now you can transfer money from your PayPal account and can also receive payment.

Watch Video Tutorial, How To Use PayPal – How To Use PayPal In Hindi:

How to put money in PayPal?

To add money from your computer:
  1. First click on the option of Wallet .
  2. Now select the Transfer Money option.
  3. Click on the option of Add money to your balance .
  4. Select your bank and enter the amount and click on Add .

How to Link Bank Account in PayPal?

  1. First of all go to the official website of PayPal and log in to it.
  2. Now select the option with Payment Methods .
  3. After this , click on the Link a bank account option in the Bank Accounts section .
  4. Now enter your bank account information and click on Continue option.

How To Send Money With PayPal?

  1. First of all open PayPal app and click on Send option.
  2. Now select the contact to whom you want to send money.
  3. Now as the front Amount want to send, as filed Amount.
  4. Click on Next option.
  5. Now select payment type.
  6. Select the payment method and click on Send Now .

How to Check Balance in PayPal?

When you login to your PayPal account, you get to see your balance in Wallet on the dashboard itself .

Apart from this, if any of your payments have already arrived and they are on hold, then you will also get to see them here. Along with this, if you have any foreign currency payment on hold, then you will also get to see it.

 Benefits Of PayPal 

1. Easy Use

Friends, creating an account in PayPal is very easy and it is also very easy to use. You can easily send money to your friends relatives or make any online payment.

2. Fast

You do not need to enter your financial information every time while shopping through PayPal, in this you get the option of speed checkout through which you can make your payment faster.

3. Secure

Friends, in PayPal, when you do online shopping, transfer money, etc., when you do any transaction through PayPal, then all the information about your bank account, debit card and credit card etc. is completely safe.

4. Money Transfer

In PayPal, you can send money to any of your friends very easily and quickly. In this you can also do internet transactions very easily.

5. Mobile Friendly

Friends, you can easily use PayPal on your computer as well as on your mobile. PayPal's application is available on both Android and iOS platforms and through this application you can use all the services of PayPal very easily.

6. Multiple Payment Options

In PayPal, you can link more than one bank account and debit or credit cards and use it for your payments.

7. Discounts

Friends, there are many ecommerce platforms online where you will get to see offers from PayPal, like on Myntra you get to see offers of PayPal many times.

In this, if you are buying anything, then it has to be paid through payment, after that you get whatever discount is there.

8. Cost

One of the most important reasons for using PayPal is that it is absolutely free. You do not have to pay any fees to use PayPal.

9. Credit Card Security

Whenever you use your credit card in PayPal to make a payment online, you do not have to enter all your credit card information to make a payment again.

All the information about your credit cards and bank accounts is completely safe in PayPal.

10. Online Auctions

Friends, we cannot forget the name of eBay along with PayPal. PayPal Online Auction is linked with eBay, in which one can securely place bids and purchase.

Disadvantages of PayPal

1. Hidden Fees

PayPal provides you many services for free and charges a small fee for some services. If you do a PayPal to PayPal account transaction, then there will be no charge in it.

But when you transact with any other third party bank account ie non PayPal transactions, then PayPal charges heavy fees from you.

2. Bad Customer Service

In PayPal, you get to see only automated bots for help, due to which if we come across a problem, then it is very difficult to get its solution and sometimes it takes too much time to solve the problem or it is not solved at all.

3. Verification Issues

Especially when you are thinking of opening an account for your business on Paypal, then for this you have to get your account verified, in which your bank account information or credit card information has to be given.

PayPal sends a small amount to your account to verify your account and then you have to see and submit the amount sent.

If the verification process is unsuccessful, there is a possibility of your account being frozen/locked.

4. Payment Holds

Payment hold problem in PayPal is for those who use business account. When there is limited selling activity on your account or more complaints start coming on your account then your Payments can be Temporary Hold.

5. Transfer Time

When someone sends a payment to your PayPal account, those payments don't go directly to your account. It may take 5-7 days for the payment to arrive in your account.

6. Locked Account

PayPal has a lot of security issues and there is a risk of terrorists using these services, the US government has put in place strict rules that seek to limit the number of transactions through PayPal.

If PayPal notices suspicious activity on your account, PayPal may block your account and your account remains frozen until PayPal notices suspicious activity on your account.

Is PayPal Safe?

When you pay using PayPal, the recipient will not receive sensitive financial information such as your credit card or bank account number. That way, you don't have to worry about paying people you don't know.

Additionally, PayPal Purchase Protection covers you when you pay with PayPal on any website and if you have any issues.

If your item is not received or if there is some other problem, PayPal will help to give you your full refund. PayPal also offers seller protection to help keep your online sales and business secure.

Is PayPal Free?

1. Account opening

PayPal does not charge you any fees for opening a new account.

2. Sending Money

In PayPal, when you send money to your friends and relatives only within the United States using only your PayPal balance or bank account, you will not incur any fees for this.

PayPal charges fees when you send a personal payment using a debit or credit card.

3. Receiving Money

PayPal in the US There is no charge for receiving money from friends or family in the U.S. when they send money from the PayPal website using only their PayPal balance or their bank account, or a combination of their PayPal balance and bank account.

4. Goods and Services

There are no fees for purchasing anything or any service at PayPal. However, if you receive money for goods or services (such as from selling an item on eBay), there will be a fee for each transaction.

5. International Payments

When you send or receive money to someone in another country, PayPal charges fees for this.

6. Withdrawing Money

You can transfer money from your PayPal account to your bank account without any fees. If you choose the option of Check, then PayPal charges you for this.
Frequently Asked Questions (FAQs) for PayPal

1. When was PayPal founded?

PayPal was established in December 1998.

2. Who owns PayPal?

PayPal is owned by eBay.

3. Where is the Headquarter of PayPal located?

PayPal is headquartered in California, United States.

4. Does PayPal accept international payments?

Yes, you can make international payments with PayPal.

5. Where is PayPal's company?

PayPal is an American company.

6. Can PayPal be used without a bank account?

Yes, you can use PayPal without a bank account but a bank account is required to withdraw money.


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