What is PayPal and how does it work?

Online sales have increased significantly in recent years. If you like to buy online and do not want to compromise your personal data, you may be interested in how to register with PayPal .

Index(  )

  1. The basics about PayPal
    1. What are its possible uses?
    2. In which countries does it work?
    3. How can you register me?
    4. Its use for online stores
    5. The cups

What is Paypal? What is it for?

PayPal is a platform that allows its users to make payments and make transfers over the Internet without having to share their banking or financial information with the recipient of the payment.

PayPal is a safe method for online payment, since it uses 128-bit SSL encryption technology that is responsible for protecting all confidential information, preventing the recipient of the transfer from knowing the financial data of the payer or any other personal information. . PayPal is used to pay for purchases made over the Internet, to collect sales made over the Internet and to send and receive money between friends, family or individuals in general, you can pay on aliexpress.

The advantages of PayPal

When making purchases online, one of the things that most worries users is having to give their bank details to a third party. Platforms like PayPal operate as an intermediary, so that the seller receives the payment without knowing the buyer’s bank details at any time, you can top up money or deposit it.

PayPal allows you to make online payments easily and without having to constantly enter bank or credit card details. In addition, payments are made through the PayPal page, which provides a secure environment for electronic economic transactions .

To these advantages we must add that it is a fast payment method (the payment is notified to the seller immediately) and free (the buyer does not pay any type of commission for making the payment through this platform).

 How to sign up for PayPal

Now that you know all its advantages, you may be interested in opening an account on this payment platform. We explain how to register with PayPal. The first thing you have to do is go to the official PayPal website and click on the “Create account” option that you will see in the upper right corner of the screen. Choose to create a personal account, you can request a refund with PayPal.

Click on “Continue” and a form will be displayed asking us:

  • Location
  • Email
  • Password
  • password confirmation

We click on continue and continue filling in the information that it asks for:

  • Name
  • Surnames
  • Date of Birth
  • Nationality
  • ID
  • Address
  • Telephone

We click on “Continue” and on the next screen we can enter the payment details . As we are creating the account, for the moment we do not enter these data and click on “I will do it later”. After this, it will redirect you to the PayPal home page, where you will see a notice that your account is already created. If you want to start using PayPal, all you have to do is enter the email account with which you registered and the password you have chosen. Fill in the payment information and you are ready to use your account.

Surely it has happened to you at some time, and even on various occasions, in which you find yourself faced with the need to use some well-known Internet system, and yet you know almost nothing about it. Of course, the master is made as he practices, but when there is money involved, it is always better to inform us before making any movement, as in the case of PayPal .

For this reason, little by little we want to begin to analyze the operation of some of the most famous systems that are based on the Internet to run throughout the world, and today’s idea is to start directly with PayPal. And it is that although surely the vast majority of people know more or less what PayPal is about, we believe that very few will understand the details of its operation.

And we believe that it is important to talk about PayPal because beyond the many functions for which we can use our account in this kind of virtual bank, it is also a platform that, once you get to know it in depth, can help you change the The way in which you buy all kinds of products , as it can facilitate your payments from now on, so keep it in mind.

But it is that among all the sites that allow us to make purchases over the Internet, we cannot lose sight of the fact that PayPal is one of the safest , and for this reason we now want to emphasize what it can offer us. For many who are already used to how it works, PayPal is even a better option than physical stores, and that is why we want to show you its details right now.

The basics about PayPal

The first thing you should know about PayPal is that this virtual bank is available in most of the world just by entering the PayPal.com website , entering its platform quickly and safely. Then, PayPal has agreements with most commerce sites and stores around the world, being enabled as a means of payment, without having to provide more information than an email and password, and eventually in a few cases, the of our debit or credit card, to start accessing your benefits.

Well, knowing this, then we have to understand that in PayPal each user has a kind of virtual account , which can be recharged with a balance of any currency in the world practically through the current accounts of most banks. That is, when we buy on a site and pay with PayPal, entering a username and password to authorize the payment, the money is deducted from the account to which we have previously transferred money from our bank account.

And why buy using PayPal and not the credit and debit card? Well, there are many reasons for preferring to buy through PayPal, although we particularly want to emphasize some of them, such as that then there is no need to be providing the details of our cards or bank accounts to the seller, in addition to the fact that we can get some benefits such as sales or discounts.

In any case, you have to understand at the same time that there are other ways to recharge our PayPal balance, since it is an account that is used both to send money and to receive it , indifferently. For example, if we sell products or services, in case we are freelance workers, and we work abroad, we can receive all our payments in PayPal without problems.

The advantage in these cases is that we will not even need to have a bank account to carry out these transactions with PayPal, although in the long run if you want to withdraw the funds you will have to synchronize your account with that of a bank. In the case of Spain, PayPal has the Prepaid MasterCard card, which allows you to withdraw your PayPal balance at any time and transfer it to physical money without problems.

That is to say, in short, that the only one that needs to know all our PayPal data is the website that concerns us on this occasion, and then you may be wondering if it is a secure platform. Well, we have to say that almost 15 years of experience in the sector and millions of users around the world support it, so in fact it is safer than any other alternative. Today, PayPal is present in around 200 countries around the world, with hundreds of millions of active accounts and moving billions of dollars -to mention one currency- every month between people around the globe.

What are its possible uses?

If the basic idea of ​​PayPal has seemed interesting to you, then you will surely want to know some of the many uses that we can give to this online payment and collection platform, which is our next point. First of all, in PayPal we can buy everything, such as shoes, clothing, household appliances, smart mobile devices, furniture, applications, pay for trips, pay for hotels, etc. But as we said before, if we sell services or products abroad, PayPal can be a more than interesting option to receive our money, and then collect it in cash, or use it to buy other things through the web.

In which countries does it work?

PayPal currently works in approximately 200 countries around the world , among which, of course, is Spain along with the rest of Europe, and users of any of them can send and receive payments without problems. However, the internal economic measures of some of them mean that taking PayPal money to cash can become a bit complicated.


How can you register me?

If you want to register with PayPal to start enjoying its advantages right now, the first thing you should keep in mind is that you only need an email account and data -real yes or yes-. In this way we will have a basic account, that is, one that will allow us to start receiving money immediately, although if we verify it by synchronizing it with a credit or debit card, we can also increase our security and number of options. In this way, the next time you buy online you can select “pay with PayPal” and forget about the problems.

Beyond that, you always have to take into account in these cases that when you want to send or receive money, you should always have a PayPal account, because payments are made to the one associated with your email account. Therefore, when you want to send money to another user, you will only need their email, and then you can select the amount , with direct transactions between currencies.

Its use for online stores

Previously we already said that one of the main uses that PayPal is given these days has to do directly with e-commerce or purchases over the Internet, which is a very easy way to make purchases. In fact, if you have a virtual store yourself, you should know that integrating PayPal as a payment method is really simple, and we even leave you the instructions in this regard here.

The cups

Of course, no one would think that PayPal does all this as a charity , but that it is actually a virtual bank and therefore has its own rates and interests, which we cannot fail to consider in any case. Now we will go with that, but the first thing we should know is that in any case, PayPal is a cheaper alternative for any transaction than using the usual financial institutions.

When it comes to selling things on the Internet, PayPal’s costs range between 2% and 5% of the total amount of the transfer, while if we intend to buy they will not charge us anything, because as we can see, the interest is on our own of the seller. Beyond that, the system then has other online services, which allow you to calculate the commissions to avoid always annoying surprises in these cases.

Some of the parameters that we must consider to know in advance what PayPal’s fees may be have to do with the country in which the bank accounts associated with the accounts are located , in addition to the type of product we are trying to buy or sell, or why not, if we have a business or personal account, which also plays a role in these cases.

For the rest, it is interesting to know that PayPal is regulated by the United States Department of the Treasury, but that it is also regulated based on the different laws of this country and all the others in which it operates to avoid transaction situations related to money laundering and other similar crimes .

For transactions between accounts that have balances in different currencies, they provide the following: If your transaction requires a currency conversion , we will use a retail exchange rate (the wholesale cost of foreign currency, as called by an outside financial institution). plus a 3.5% conversion service charge.

PayPal will always provide information at checkout for transactions that include a currency conversion. The currency conversion fee will appear each time you send a payment in a currency other than your local currency. What else would you like to know about PayPal?





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