Basic functioning of the Pay pal Service
Pay is the Gloabal payment method. Pay pal founded in 1998 by Max Levchin and Co is today managed by E- Bay . With headquarter in the US they offer services as far as online banking is concern to the world.
What is required to create a pay pal account ?
''-'' Name and address
''- '' Email address
''-'' Credit card or Bank account
Pay pal functions to:
1. AN Individual
As the word say it all. You can create a personal account which you can link to your bank account. With the individual account you can pay and receive money through what is referred to as peer-to -peer transactions. However there is a limited amount you can receive with your pay pal account.
2. The business owner
As a business owner you can create a merchant account with pay pal. However you are required to show clearly you business and website(very important) . Once your account is approved, you can integrate the account into your website where your customers/clients can pay for your services or products directly on your website into your pay pal account.
--)) Receiving With Paypal
With a pay pal account, you can receive money form another pay pal account holder. With a a personal account, you need to give your email ONLY to the sender . He or she will enter the send money option in his account to make payments in your account.
You can also enter the request payment option in your account to request receive money from someone. Never give your password to someone for a transaction.
With a merchant account you can receive payment directly from your website. No need to share your email address.
I strongly advice you to a have a separate address that you use for your pay pal account only.
As of now , pay pal does not allow all account to receive money. Most Africa countries and Latin American countries use the service as pay only.
---)) Paying With Pay Pal
Once you have a verified pay pal account you are free pay to sites that accepts pay pal or to individuals that can receive payments with pay pal accounts.
Again to make payments to someone you need his email address. Sign in into your account and click on send money and follow the steps to complete your transaction.
If you are Interested in knowing more about pay pal just type pay pal on the search box at the top of this post. Enjoy pay pal services.