What is PayPal Credit?
What is PayPal Credit: (Introduction) PayPal is popular in the world, with the help of this, you can easily transact money with the help online internet, but for this, you have to create an account, which we also call a Paypal account, with the help of PayPal you can send and receive money easily.
What is PayPal Credit?
PayPal Credit, formerly named Bill Me Later, is a proprietary payment method offered on the websites of many well-known merchants, including those of Wal-Mart, Home Depot, USPS, B&H Photo Video, Best Buy, Overstock.com, JetBlue Airways, Liquidation Channel, Jewelry Television and Hotels.com.
What is PayPal:
PayPal is an American company, which has been providing Online Payments Service around the world for a long time. You can pay, send, and receive worldwide through their website and Android App. With this, this service is a service that users also use to buy products online from websites like eBay and Amazon. There are about 100 million accounts active in this, which is the first choice of people from 190 countries. This service is available in about 202 countries all over the world, which also supports 25 currencies.
Often nowadays people use it to buy software and services on the internet along with online shopping. Users can send money to all those who have an email address. The user using it has to create only a basic account of PayPal. In this, you can free your bank account with this account. But as per the selling price for a credit card, 2.9% plus currency, an additional fee is also applicable.
PayPal is bigger and better than all those online payment services. Online payment service is that due to which an online buyer after purchasing his goods, pays his price safely through his credit card or bank account.
When was PayPal founded and who did it?
PayPal was founded in December 1998 on the basis of a company called Confinity. At that time it used to develop security software for handheld devices.
PayPal for founders is Max Levchin, Peter Thiel, Luke Nosek, and Ken Howery. PayPal was established in 1998 and after a few years, it was bought by the eBay company.
When any person starts doing business online, he needs a means so that he can send or receive his payment.
Normally when we have to pay, then we make an online payment with the help of our credit card or debit card, but if we want payment, then we have to take the help of payment services like PayPal or Google wallet.
PayPal is the oldest and most reliable online payment service. PayPal service allows us to conduct national and international money transactions through the internet.
PayPal today has 100 million member accounts in 190 countries of the world. This shows that using PayPal today, people across the country are confidently carrying out their monetary transactions with ease.
No special technology or license is required to transfer money from PayPal, most important is to create your account in it, having a valid e-mail id and bank account, in fact, PayPal works only through e-mail addresses.
Types of PayPal Account:
If seen, Paypal has mainly three types of accounts, about which we will learn further.
Since its name is personal, it is very easy to know from this that these accounts are used for personal use.
In these accounts, you can make about five (5) credit or debit card funded payments every year and for this, you have to pay a transaction fee in all transactions.
This type of account is suitable for members who conduct transactions with high transaction volume or who like to access Paypal’s Core and Premium features.
These Premier accounts are limited to only one individual name, that is, you cannot use it for business purposes.
Here you can make unlimited amounts of credit or debit card payments transactions compared to personal accounts. But all the payments you receive are charged on top of them.
These accounts have been specially designed for businesses. For payment transactions, which you can operate in any business under the name of a company or group name.
Like Premier accounts, you can also make an unlimited number of credit and debit card payments, but only on receiving payments, you will be charged.
How does PayPal work?
It’s is an online financial service that allows you to pay for items using a secure internet account. You simply add your bank account, credit card, or debit card details and whenever you pay using PayPal, you can choose which of your cards or accounts it pays with.
We have to create our user ID using the e-mail address in PayPal. Because only through our e-mail address, we will be identified in the online transaction.
After registration, we have to give details of our bank or credit card in our user profile. PayPal transfers an amount of one or two, less money such as $ 1.06 and $ 1.30 to check whether the given details of the credit card are correct.
After receiving this money in our bank account, we have to go back to our PayPal profile and put the same amount of data in the box given there.
Send and Receive Money Online:
Our bank account is considered fully verified when the data entered is correct. After verify, our account is ready in PayPal through which we can send and receive our money online anywhere.
When we open our account in PayPal, immediately after that we can easily make our payment. We can make payments only to those who have an account in PayPal.
You can send money from your PayPal account to the same e-mail address by asking the e-mail address of PayPal from the person who needs to pay us. PayPal withdraws the given amount from our bank account and sends it.
PayPal sends its commission after deducting money to transfer money from your account to another PayPal account. Therefore, you will have to transfer the money by adding the commission of PayPal along with your payment amount.
When we have to take payment from a person, then I do not maintain that the person is in your own care or outside your door, we just have to give the e-mail address registered in your PayPal to that person.
After that, the person making the payment will transfer the money to your PayPal account. After the money is transferred, an e-mail will come to you that so much money has been transferred to your account, and the name of your payer will also be included in the mail that has sent you the money.
After that, you have to decide whether you want to keep your money in a PayPal account or transfer it to your bank account. But before your money is transferred to your bank, PayPal deducts its commission and deposits your money in the bank.
Benefits of using PayPal?
1. Paypal provides 100% protection against unauthorized payments.
2. You can send or take money anywhere in the world with the use of PayPal.
3. Paypal offers you very good offers from time to time and often gives coupons for shopping.
4.PayPal is a secure online payment service in which all your information is safe.
5.You can shop from many online websites from your PayPal account right from home. And you do not even need to go outside and do not have to stand in long queues.
6. In PayPal, you can pay using a credit card and debit card.
7. If you feel that a seller is cheating you, then you can also file a case against him. Paypal will help you in this work.
8. With PayPal, you can send your money directly to the bank account.
9. If there is any problem in a transaction, then you can take the help of Paypal support.
10. You can also send money to another country with very low charges and in a very safe manner.
How to create a PayPal account
If you want to create an account on PayPal, then you can do this.
On PayPal, you can easily create a PayPal account in just minutes. For this, you have to follow the steps given below.
First of all, you have to go to the PayPal.com website. Click on the Signup button there. Then choose a personal account for yourself and then click on Continue.
Now you have to fill in some options like: –
- Select country.
- Fill in your email address.
- Fill in a strong password.
- Now fill in the password once again.
- Fill the Captcha code correctly.
- Now click on continue.
Once you click on Continue then a new window will open in front of you. Now let’s know what to do next.
- You have to fill in the first name and middle name.
- Then you also have to fill in the last name.
- Fill in your date of birth.
- Select your country.
- Then fill in your address.
- Again you have to fill in the address.
- Now choose your state.
- Then fill in your city zip code.
- Then enter your mobile number.
- Now you have to tick Agree policy.
- Now you have to click on agree and create an account to proceed.
- After doing all the steps mentioned above, a mail will come to your email, which you have to verify and
- put here.
- As soon as you verify the email, your PayPal account will be opened
Important things & Documents for Paypal Account:
1. You have to have an email account to create a PayPal account because
2. PayPal transacts money only through an email account.
3. If you want to send money from PayPal to the bank, then you will need a PAN card number only then you can send the received money to your bank account.
4.If you want to send money to someone, then you have to have a credit card or debit card, only then you can send money.
Bank Account (to get money)
PAN Card (for verification)
Debit or Credit Card (for sending money)
Who can use PayPal?
Any person can use PayPal, whether he is a common man or a businessman, if you have a business which is spread all over the world and you sell some goods, now you can take payment or money to get the whole. If you cannot go to the world. then for this, PayPal has been made so that you can easily send or take money anywhere in the world.