How to Create an Account on PayPal: A Brief Guide of 2024
PayPal is a pioneer in the payment industry. An international brand strikes credibility, security, and flexibility in terms of online transactions.
If you are an entrepreneur who deals in international trade, you will need a viable payment platform for that. PayPal is highly recommended in this regard and stands out.
In this brief guide, we will talk more about PayPal. Moreover, we will get to know about its pros and cons.
What is PayPal?
PayPal is a global and online payments solution. In essence, it is an international multi-national financial and technology entity based in Palo Alto, California, United States. It is widely used by business ventures, corporations, entrepreneurs, and moguls. What makes it more flexible is that it can be effectively used for personal and family payments. This makes it more of a household name in the countries in which PayPal is available.
Moreover, PayPal is readily used to spend at e-commerce platforms such as eBay. This makes it even more flexible and useful.
PayPal is a pioneer in the international payment platforms fraternity. It has been in the game for more than two decades now. PayPal was established back in the year 1998. In its early years, it transcended borders and went international. Currently, it is actively operating in around 200 countries. Still, even it offers limited services in certain Asian countries. In around 18 countries, one cannot hold an account balance.
Another factor, which makes PayPal great, is that is very socially responsible. PayPal runs its own charity. It is named the PayPal Giving Fund, which is officially registered. This charity is fully backed by PayPal itself. With that, PayPal funds various international non-profit organizations.
PayPal Pros & Cons
Let us quickly go through the pros and cons of PayPal.
Pros
- Highly secure and offers 100% fraud protection.
- No need for any merchant account to operate.
- Ability to integrate with various shopping carts.
- Widely used and accepted by families, traders, and e-commerce marketplaces.
- Option for setting up recurring payments.
- Quick creation and transfer of invoices directly through PayPal.
- It does not require the paying party to have a PayPal account.
- Charges minor fees.
Cons
- Imposes a high fee in case of chargebacks.
- Sometimes the customer support does not respond.
- It might become a barrier if the receiving party does not have it. (However, you can always go for alternatives, in this case).
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to watch Paypal fee.
How to set up an account on PayPal?
With a simple systematic method, you can set up an account on PayPal.