PayPal is a form of online payment. A PayPal account is connected to and uses the money you have in a chequing account (most common), a credit card, or a line of credit. It is very safe to use!
PayPal can be a valuable alternative to a credit card. Many big companies accept PayPal online. If you want to avoid credit card fees then paying with PayPal can be very useful.
How you create a PayPal account
You will need an email address to sign up for an account and must provide a debit card, a credit card, or bank account infirmation to open an account.
PayPal will make sure all the information is correct and you are the rightful owner of the card/account as a safety before the service is used (takes a couple days at most).
After that you can use PayPal how often you like!
Benefits of using PayPal
PayPal allows users to easily shop online, make payments, and transfer money (to email or to a phone number).
When shopping online, you can often choose PayPal to pay (if the retailer has the option). Transactions are completed within minutes.
PayPal also offers businesses a range of services they may need, including payments for both online and in-person transactions, business management solutions, and credit and financing options. Business owners must also provide an email address in order to create an account.
Is PayPal safe to use?
PayPal is extremely safe to use! They provide a form of payment that does not require the payor or payee to disclose credit card or bank account numbers. Thus, its harder to hack financial information from PayPal than from using your credit card online. The money is very secure and privacy is well protected!
PayPal is not a bank but it still has many of the same consumer protection regulations that banks have. If they notice any odd behaviour coming from your account they will immediately notify the bank and will quickly notify you!
To find out more information about PayPal, and/or to open an account click here.