How does PayPal work? | Technology

It is clear that PayPal is a payment platform that almost everyone knows. If you have never done a task with it and you need to know how it works, stay with us and we will give you all the information.

Everyone who buys on the Internet, sooner or later, will come across PayPal at some point. It is therefore strongly advised to know how this payment system works and how it works.

It is widely used all over the world and it is not surprising, since it offers some very interesting possibilities for any purchase that we make online.

PayPal is one of the safest systems for making any type of payment or receiving money, eliminating the fears that existed years ago with this type of payment, largely thanks to its powerful encryption system and to its customer service, where it protects us from possible fraud.

What is PayPal?

PayPal was created in 1998 by Ken Howey and Max Levchin, becoming years later the most famous online payment system in the world.

The main features of this software are the safety, reliability and the options you present to your customers.

In PayPal not only make payments, but we can also Send money Where receive it in our different accounts. This means that we are talking “more or less” about a virtual wallet.

Now you know what PayPal is.

PayPal the most used system in second-hand purchases, eBay, etc. In this type of transaction, possible scams are more frequent, so we will explain how to ask PayPal to return your money if you have been scammed.

How to open a PayPal account?

Now that you know what PayPal is, you should know that you can link bank cards (debit or credit) or bank accounts, knowing that their numbers will never appear in any operation.

To achieve this, the first thing to do is to create a PayPal account as follows:

  • First we enter the PayPal site and choose the option Create an account in the private column.
  • Then we fill out the form that appears in the image above.
  • We accept the terms of use and click Accept.
  • You will need to enter the code shown in the image and click on Continue.
  • Then we will see the option to pay with your bank account or card. We choose the one that suits you best.
  • Then we must fill in the information that PayPal asks us.
  • If we chose the Bank accountyou must enter all the digits and in the card holderalso, in addition to expiration and CCV.
  • You will now need to confirm the use of PayPal on your bank account or card.
  • If we choose the bank account, the process to verify it is that PayPal will make some small transfers there. When checking the statement, we will need to enter the correct amount to confirm that we are the account holders.
  • If we link the debit or credit card to PayPal, we can start shopping immediately.
  • Verification of the bank account takes a few days, so you have to wait for the notification to appear to confirm it 100%.

How does PayPal work?

For convenience, with PayPal you can pay at any online store without having to provide any information from our credit card or bank account, which is an excellent security measure.

PayPal’s system is very simple and at the same time protects its buyers. In other words, when you buy something online, it the service holds the money who is paid for the item until the user confirms receipt of the product.

If you bought something and it hasn’t arrived, for whatever reason, you can always complain to the seller or open a dispute in PayPalalthough the latter requires having written to the seller several times before.

In the event of a dispute, PayPal will first attempt mediation between the different parties, then analyze the situation and settle the case in your favor or not.

You still do not benefit from the advantages of Bizum? We tell you what it is and how it is used and everything you need to know about this mobile payment platform.

Buy on PayPal

Buying from any online store with PayPal is very easy.

You just need to fill the basket in the usual way on the shopping website and when you need to pay, look for the sign on the website where it says Pay by Paypal. You should keep in mind that not all websites allow you to pay with this system.

At that point they will take you to PayPal so that certify that you are (username and password) and so that you can Choose payment method that we want to use, that is, if we pay by card, bank account or with the balance that we could have in the tool itself.

Send or receive money

This is another faculty that PayPal grants us and which allows send money to friends or family, without costing us anything more. The only time we would have to pay anything is if we pay in different currencies.

Another way to pay is use the balance that we have accumulated in PayPal. To have said balance, you can have won it during a promotion or have deposited it in the balance of your bank account.

Still not using PayPal to pay for your online purchases? We tell you everything you need to know to pay for your online purchases with PayPal.

Advantages of PayPal

In short, PayPal has many advantages for paying online or sending/receiving money.

The main ones are:

  • Security: this is the main advantage both for network payment and for receiving or sending money
  • send or receive: we will be able to send and receive money from friends or family and free of charge, so this is another great advantage.
  • Speed ​​of payment: between the speed with which it is paid and the fact that we can choose the method, it is obvious that it is an excellent option that is really interesting
  • Free: When we buy, the PayPal service is free, so we don’t have to worry.
  • Smartphone: having a smartphone version is a great advantage, so we will not need to use the browser and all operations will be carried out from the mobile phone in a simple way.
  • Possibility to claim: not only will you be able to claim the seller for any type of product defect, knowing that, if the person selling to us does not respond, the complaints department will intervene to investigate and determine who is right.

Now that you know better what PayPal is and all the services it has, you will understand much better what it means and how to use it the next time you enter a website that offers this service as a payment method.

Plus, since you can send money to friends and family, it will be all the more reason to have an active PayPal account.

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