Payment Processors: PayPal PDF Print E-mail
Written by knwom   

PayPal

PayPal Corp, as it is known today, is the result of a March 2000 merger between Confinity and X.com. It enables any individual or business with an email address to securely, easily and quickly send and receive payments online. PayPal's service builds on the existing financial infrastructure of bank accounts and credit cards and utilizes the world's most advanced proprietary fraud prevention systems to create a safe, global, real-time payment solution. PayPal has quickly become a global leader in online payment solutions and with 100 million account members worldwide is the most popular payment processor in the world. It is available in 103 countries and regions around the world and it is still developed to be available everywhere.

It is supported by almost all eBay customers. Moreover, it has now become a regular payment method for online shopping. It is supported by many stores, such as Dell's online shop, iTunes and CyberSource. It supports credit cards both to fund or pay directly to a PayPal account.

Fees

For detailed fees click here.

Credit and debit cards

PayPal allows using credit cards for sending payments and funding an account; however, there are some restrictions. Personal accounts may not receive payments funded by credit card for eBay or eBay Express transactions without upgrading to Premier or Business accounts.

PayPal also offers its own PayPal ATM/debit card and PayPal Plus Credit Card with no annual fee.

Subjective opinion

My personal experience with PayPal is tiny, so I have decided to google for other people opinions. It is enough to put 'paypal opinion' in this popular search engine, to get nearly 2 000 000 different sites. Unfortunately, the first page of search results consists mostly of negative opinions, including paypalsucks.com. However, there are also multiple positive voices; unfortunately, these opinions are nothing more than 'works at it should'. After spending few hours reading different point of views I concluded that if you have to use PayPal, use it. However, do not keep money there and be very careful with credit cards. Remember that most of the problems appear when you receive money, so pick your customers carefully. The PayPal Buyer Protection Policy claims that customers may file a buyer complaint within 45 days if they did not receive an item or if the item they purchased was significantly not as described. If the buyer used a credit card, they might get a refund via chargeback from their credit card company.

Create PayPal account click here!
 
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