What is PayPal and Why You Must Have it?

Being an Internetpreneur or simply online shopaholic, you often come across a term – PayPal. PayPal is world’s most leading digital payment method which most of the people use in day to day life for financial purposes. People often enjoy happy money transferring via PayPal without any issue, but many of them don’t know – “What is PayPal and Why You Must Have it?“.

Do you belong to that category of people, who wonder to know all about PayPal and it’s working then you are at the right place? Today, I’m going to help you to learn everything about PayPal and its working.
What is PayPal and Why You Must Have it ?

What is PayPal?

PayPal is world’s leading digital payment method which enables user like you to send and receive payments even overseas. PayPal lets your approach go limitless beyond various countries as it serves more than 193 countries as of now. It has been making you Pay safer and easier since 1998(when PayPal was founded). PayPal is a fast and safe way to pay and get paid.

How PayPal Works?

PayPal is an online service that allows individuals to transfer money within seconds safely. The working of PayPal is simpler than you would have ever thought. It works on an encryption software that allows its users to send and receive funds electronically.

  1. First of all, you are required to create a free PayPal account using your e-mail id. Later the e-mail id provided by you would be your PayPal account identity.
  2. Then you’ll have to add and verify your financial details like the bank account, credit card even mobile number(now), etc.
  3. You are done. Now you can send and receive limitless payments beyond countries within seconds.

Some Interesting Facts About PayPal

According to the stats shown on their about page, I have filtered out some of interesting facts and figures that speak the story of success of PayPal so far.

  1. PayPal has 148 million active registered accounts and is available in 193 markets.
  2. PayPal supports payment in 26 currencies.
  3. It is leading the way of digital payment since December 1998, when it was founded.
  4. PayPal has its head quarter in San Jose, Calif, with offices in Timonium, Md.
  5. PayPal processes about 9 million payments daily.

What is PayPal and Why You Must Have it ?What is PayPal and Why You Must Have a PayPal Account?

I already explained the first part of this question, now comes the next one – Why you must have a PayPal account? What a silly question ;)! You work hard to sell your services and make money online but what if you don’t own a payment processor? It’s simple; you won’t get paid :).

Though there are various ways of getting paid yet PayPal and Cheque method is most common. Since a traditional cheque method takes so much time and you love to get paid instantly. So, I would recommend PayPal because as per my experiences so far, I have come across many money making platforms where PayPal is the only mode of Payment.

So not having a PayPal account is like limiting your potential. And by the way, it’s almost free 😉 so go for it!

The Pro Review from TechReviewPro

PayPal is a great way to send and receive payments online. Though there are alternatives to PayPal as well yet, PayPal works best among all payment processors. If you wish to make money online and get paid instantly, then a smart idea would be to do your basics right by creating a PayPal account that would help you to receive payments immediately as well as safely.

Meet Author

Rahul Dubey

Rahul Dubey is 20 years old, a web-based entrepreneur and owner of TechReviewPro.com. Rahul enjoys learning new tips and tricks related to technology. He helps bloggers excel online with his effective lessons and tools that he uses for successful blogging. His works often get mentioned in popular magazines like Forbes and Huffington Post etc. And what makes him stand out of crowd is his friendly attitude of sharing what he learns. Got a query? Ask me via Email: Rahul@techreviewpro.com