What Is Paypal And Why Should You Use It?

It is becoming more and more common to make online purchases at the click of a button from the PC or even from the smartphone itself. However, until a few years ago, buying online generated a lot of mistrust and not many people dared to carry out this type of operation without the presence of a seller . 

The simple fact of having to enter your card details in A website was an important trust barrier, for fear of data theft or a possible scam. In order to increase the trust of buyers, PayPal was born , offering a safe and easy way to make payments in digital media without having to share any bank details.

What Is Paypal?

As you have been able to deduce, PayPal is a company in the online commerce sector that offers an electronic wallet system . Today, it is probably the most popular in the world. With PayPal you can make secure payments through the internet , send and receive money from other PayPal accounts or collect your products or services if you have a digital business. 

All this without having to enter your data every time you carry out an operation, since PayPal will store these thanks to secure encryption and advanced anti-fraud systems. The only information you will need to carry out this type of operation will be an email and a password. In this way, it becomes a very fast and secure system to send and receive money, and it also has three types of accounts depending on the needs of each user:

Personal Account: For those users who want to make purchases online and with the possibility of receiving payments.

Premier Account: If you want to sell products online, with this account you can make sales at reduced rates, as well as being able to make payments for free.

Business account: Recommended for those users who are going to use it under the name of their company, with additional functionalities and faster technical support for problem solving.

Opening a PayPal account is very simple . You just need to enter your name, surname, e-mail, password and your country of residence. However, before registering, it is advisable to take into account the advantages and disadvantages that it has.

Advantages

PayPal is one of the best-known online payment companies , mainly for the security it offers to its users, but it also offers another series of advantages:

• Open an account in PayPal is a process much easier to open a bank account.
• The platform interface , both in its web version and the mobile application, are very easy to configure and simple to use.
• It has totally free accounts , with the possibility of sending and receiving money at no cost (except in Latin America).
• You can pay to a PayPal account without registering , just with a bank card.
• In the case of offering products or services, it offers the possibility of creating and sending invoices . In addition, you can integrate the PayPal payment system in your platform.
• PayPal Security is their strong point, with a system of data encryption and fraud prevention to protect their users. It has a claims system that protects the buyer against possible scams, so that if you have bought a product and it has not reached you or something different than what is described has arrived, PayPal will intervene and review all the details of the dispute, issuing a final decision after having analyzed all the data provided by both the buyer and the seller.

Disadvantages

Although PayPal has a large number of advantages, it also has some disadvantages that it is recommended that you know before registering:

• It is not possible to make large movements of money without having a verified account . For this, it is necessary to verify the account with a card or bank account through a very simple and fast process.
• Paying with PayPal is free, unless done in another currency. However, when it comes to selling products online, PayPal will apply commissions . These will be lower the more sales you make.
• Make changes in currency entails paying relatively high commissions.
• The service to the customer is not as efficient as it could be expected, especially for staff and premier accounts.
• If you are a seller or have a business, you could have problems with false claims . Unfortunately, there are people who act in bad faith, so it is advisable to keep all the proof of purchase and delivery to be protected against any fraud attempt by buyers.
• As it is not a bank, no Deposit Guarantee Fund insures your money against a possible bankruptcy of the company.

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