Today, when it comes to online money transactions, most Internet banking, UPI, or Paytm wallet is used, but few people know what PayPal is. But you need to know that when it comes to using or buying online services or products, then this service proves to be the most useful. A large number of people now use online wallets all over the world and especially in India. But even today, there are many people who are very afraid of using the services. Because anyone is afraid of entering their debit or credit card number on a website and this is the reason why today I thought that you should tell us about the most used and secure online transaction website facility. Through which you will understand how to create an account in PayPal and how it works. If you want to buy a service or product without registering your credit and debit card on any website, then it is very beneficial for you there.
You will face a problem while making an international payment, you will not get the medium to make payment. By sort-out this problem, you can make international payments from it, and that too very easily! To receive or send money in India, we use Paytm. But, when you are used to receiving or sending payment from foreign countries, service is called PayPal. If you don't know what is PayPal? and how to use it then, you are in the right place because today I will give you information.
Often nowadays people use it to buy software and services in online shopping as well as the internet. Users can send money to all those who have an email address. The user using it has to create just one basic account of PayPal. In this, you can free your bank account with this account. But as per the selling price for the credit card, 2.9% plus currency, an additional fee is also applicable.
Basically, PayPal's Paytm is similar. The only difference is that
1. Paytm runs only in India but, PayPal runs worldwide.
2. Paytm is free, in Paypal, you incur some charge per transaction.
If a person does not have a PayPal account and also just an email address, then you can send money to him. But the person who wants to receive the money must have a basic PayPal account linked to the email address. It is absolutely free to create a basic account. And using this, many types of transactions are also available free. If you have a PayPal account, there are several ways you can fund and remove it. If you want to do the transaction quickly and easily, then you can add your bank account or credit card to its account, so that you can withdraw or withdraw money in a very short time. You can withdraw money from ATM using its debit card. Apart from this, you can also withdraw money by using a thorough check of mail.
For example, by putting the number of the receiver in Paytm, you pay it. Similarly, in PayPal too, you enter the receiver's number and pay for it. In this, you can pay with a credit card and debit card. But the condition here is that your credit card or debit card should be applicable for international usage.
In PayPal, before creating an account you have to see what is the purpose of creating your account. If you want to create a personal account for your personal work, it will be right for you. If you want to grow your business with the help of Paypal, then the business account will be right for you. Let us know in turn about business and personal accounts.
If you want to open one of your PayPal Account, then you will need this following documents
Now when you have these important documents available, then after that you choose your account type.
1. Open PayPal's website and click on the SignUp button.
2. After this, you have to signup by entering your details, Verify E-Mail.
3. After this, to send or receive payment in your account, you have to add your bank details and a credit card or debit card details.
4. After adding your bank account to PayPal, there will be transactions of one rupee in your bank account in a day or two.
If You want to find out the number of transactions then go to your PayPal account, go to the section of bank verification and enter that amount. Your bank account will be verified after you enter the correct amount. After verification, you will be able to receive money from your PayPal account in your bank.
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 in online shopping as well as the internet. Users can send money to all those who have an email address. The user using it has to create just one basic account of PayPal. In this, you can free your bank account with this account. But as per the selling price for the credit card, 2.9% plus currency, an additional fee is also applicable.
Basically, PayPal's Paytm is similar. The only difference is that
1. Paytm runs only in India but, PayPal runs worldwide.
2. Paytm is free, in Paypal, you incur some charge per transaction.
How does PayPal work?
The idea behind PayPal is very simple. It consists of encryption software that approves financial transactions between two computers. This fundamental idea has become the first method of making online payments and money transactions around the world today. As you have already known that this is an online payment service that allows a person or a company to transfer funds electronically. So know here what are its functions.- You can send and receive payments in online auction happening on websites like eBay and Amazon.
- Can buy and sell goods and services.
- To donate and take
- To do cash exchange with others.
If a person does not have a PayPal account and also just an email address, then you can send money to him. But the person who wants to receive the money must have a basic PayPal account linked to the email address. It is absolutely free to create a basic account. And using this, many types of transactions are also available free. If you have a PayPal account, there are several ways you can fund and remove it. If you want to do the transaction quickly and easily, then you can add your bank account or credit card to its account, so that you can withdraw or withdraw money in a very short time. You can withdraw money from ATM using its debit card. Apart from this, you can also withdraw money by using a thorough check of mail.
For example, by putting the number of the receiver in Paytm, you pay it. Similarly, in PayPal too, you enter the receiver's number and pay for it. In this, you can pay with a credit card and debit card. But the condition here is that your credit card or debit card should be applicable for international usage.
How to create a PayPal account?
In PayPal, before creating an account you have to see what is the purpose of creating your account. If you want to create a personal account for your personal work, it will be right for you. If you want to grow your business with the help of Paypal, then the business account will be right for you. Let us know in turn about business and personal accounts.
Personal account
As its name suggests, you can use your personal account for your personal works. In this, you are allowed to add 5 credit cards or debit cards only. Also, the limit for monthly transactions is set in it, so that you cannot conduct transactions above that limited transaction.Business Account
You can also do high volume transactions in the business account, in this, you can also collect money by connecting your e-commerce to your account. You can take advantage of the Premier account in the Business account. Access to the core features of these accounts me PayPal is given. It is similar to Business accounts in a way. Like in this you can add unlimited credit cards and debit cards.Documents Required For Creating a PayPal Account
If you want to open one of your PayPal Account, then you will need this following documents
- Bank Account
- Pan Card (For KYC)
- Credit or Debit Card
How to create an account in PayPal
Now when you have these important documents available, then after that you choose your account type.
1. Open PayPal's website and click on the SignUp button.
2. After this, you have to signup by entering your details, Verify E-Mail.
3. After this, to send or receive payment in your account, you have to add your bank details and a credit card or debit card details.
4. After adding your bank account to PayPal, there will be transactions of one rupee in your bank account in a day or two.
If You want to find out the number of transactions then go to your PayPal account, go to the section of bank verification and enter that amount. Your bank account will be verified after you enter the correct amount. After verification, you will be able to receive money from your PayPal account in your bank.
Advantages and disadvantages of PayPal
Like everything has its advantages or disadvantages. Similarly, PayPal has some advantages and disadvantages. Let us know about the advantages and disadvantages.Advantages of PayPal
- The Biggest Benefit of PayPal, which I think, you can make international payments in it, by paying very low fees.
- If you have paid to a Fraud fellow in PayPal, then you can file a Dispute against him in PayPal, in which PayPal Support will help you fully.
- PayPal tries to provide you 100% security on top of every transaction.
- PayPal is a very trustable company.
Disadvantages of PayPal
- We Indian people love the things of free, that is why you will not like PayPal because PayPal is not free.
- If someone files a dispute against you, then your account gets freeze for inspection.
Paytm Vs PayPal
Comparison of Paytm and PayPal cannot be done, as both of them belong from different industries. Paytm does its business only in India but PayPal does its business all over the world, but it runs more in India Not found because Indian people use Paytm to conduct transactions. In Paytm we can do transactions for free, but in PayPal, you have to pay some fees per transaction. Therefore, PayPal could not expand much faster in India. Basically, if you listen to my experience, I also use it only when I have to ask for foreign money.
In short
Today, we have taught what is PayPal? and how does it works? along with this you have also learned how to signup and create a PayPal Account. Today almost every man uses Paytm in India, but those who know beforehand know that there is an even greater service that is used all over the world. There are many dangers online, it is not a big deal to get an account hacked. In such a situation, it is a great risk to put the details of debit cards and credit cards on any website to buy any service or product. Now you must have understood what to do in such a situation. It is very important to be safe online, you must have understood this very well.
Today, you have learned how to use a PayPal account through this post. If you follow my advice, then definitely make your account in this, if you liked this article, then you must share it with your friends.
0 Comments