what is paypal?

PayPal is an e-commerce business allowing payments and money transfers to be made through the Internet. PayPal serves as an electronic alternative to traditional paper methods such as cheques and money orders.

PayPal is a secure online payment method, which allows you to pay or get paid quickly and easily without sharing any of your financial information. PayPal remember and safeguard your bank, credit or debit card details, so you don’t have to. You can use PayPal to pay for items on eBay or any of the thousands of online retailers that accept PayPal. You can also get cashback and exclusive discounts from selected retailers via the PayPal Offer site.

A PayPal account can be funded with an electronic debit from a bank account or by a credit card. The recipient of a PayPal transfer can either request a check from PayPal, establish their own PayPal deposit account or request a transfer to their bank account. PayPal is an example of a payment intermediary service that facilitates worldwide e-commerce.

PayPal performs payment processing for online vendors, auction sites, and other commercial users, for which it charges a fee. It sometimes also charges a transaction fee for receiving money (a percentage of the amount sent plus an additional fixed amount). The fees charged depend on the currency used, the payment option used, the country of the sender, the country of the recipient, the amount sent and the recipient's account type. In addition, eBay purchases made by credit card through PayPal may incur a "foreign transaction fee" if the seller is located in another country, as credit card issuers are automatically informed of the seller's country of origin.

On October 3, 2002, PayPal became a wholly owned subsidiary of eBay. Its corporate headquarters are in San Jose, California, United States at eBay's North First Street satellite office campus. The company also has significant operations in Omaha, Nebraska; Scottsdale, Arizona; and Austin, Texas in the U.S., Chennai, Dublin, Berlin and Tel-Aviv. As of July 2007, across Europe, PayPal also operates as a Luxembourg-based bank.

Creating your PayPal account is easy. Once it’s set up, you just need to attach your bank account, credit or debit card to pay with PayPal. You can then pay on thousands of websites in just a few clicks. When you’re paid with PayPal, the funds go instantly into your PayPal account. You can transfer them to your bank account, or pay for other items directly from your PayPal balance.

Why use it?
There are many reasons why people prefer using PayPal, but here are the top ones:
it is safer : When you pay with PayPal your financial details are never shared with sellers or retailers, so you’re more protected against fraud.
It is faster : Because you don’t have to type in your card details each time you pay, you can check out faster online. You can also get eBay items delivered more quickly, as you can pay the seller instantly.
It is easier : PayPal is the preferred web payment method in the the world because it’s simply a smarter, savier way to pay online. All you need is your email address and a password to pay in just a few clicks.

How does it work?
Creating your PayPal account is easy. All you need is your email address and a password. Once your account is set up, you just need to attach your bank account, credit or debit card to make online payments in a few easy clicks. Simply select the PayPal option in checkout.As a broker in the transaction online, PayPal makes person sending the money to do only with "mail recipient". The other side can not see the credit card information or bank account. This is a PayPal advantages in maintaining security of personal data users.