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PayPal is one of the most reliable and comfortable systems for payment. The company was founded in 1998 and since then given the option of paying on different websites and transferring money between users who have e-mails (or PayPal accounts). One of his great achievements is that it allows us to store money on the server as if it were a current account. It operates much like a bank, but without having to carry out all the cumbersome paperwork.
But undoubtedly what makes PayPal is one of the most used services is security. The service is regulated by the financial authorities of Singapore and they do not require that funds be declared to operate. In addition, the PayPal system is encrypted to safeguard the data in each operation. Also, PayPal does not share financial information with any company or individual providers. Given this, let’s see what are the main advantages and disadvantages of paying with PayPal.
PayPal has more advantages than disadvantages. We list some of the most important, those that make the service one of the most used in the world.
PayPal protects buyers against sellers. This is always a great advantage because something happening during a transaction would not be a big deal. The PayPal Resolution Center is operational up to 180 days after a purchase that had issues was made.
In making a payment via the service, you only need to enter a password and email address. PayPal will automatically connect to the data service for payment. No need to disclose the PIN credit card. Another important point is that since PayPal is being used by many companies as their payment platform, chances are that where you are buying would have an option that allows one to pay with PayPal. This minimizes the risk of entering your banking information or other confidential information on numerous websites.
Another major benefit of PayPal is that it is possible to convert one currency to another at the moment. Imagine that your buyer is in the United States, but you live in Spain. This person can send money in dollars and the money gets changed to euros without a problem. Of course, you must pay a commission. Be sure to check the terms applied to these kinds of transactions.
Once you associate any means of payment in PayPal, either the bank or the card. You can shop online on all the websites of the world. Paying therefore is very fast and easy. It does not force you to have to enter your bank information again. And speaking of speed. Unlike international transfers of some banks, which can take up to 2 working days, with PayPal you can receive transfers from anywhere in the world immediately. Yes, if you want to withdraw the money from your PayPal balance, it will be necessary to wait a couple of days. In any case, at least you’ll know that the transfer has been received safely.
It is undoubtedly the main attraction of PayPal. The service to the customer works very well. You can access it via email or by telephone at the toll-free number. If you have to file a claim, PayPal will keep you informed throughout the investigation, and attempt to resolve the issue within a month maximum. The most difficult situations may require further investigation. If so, you will gradually be informed until there are conclusions
PayPal has become a reliable and safe service for online transactions around the world. It does not matter if you are an individual or a merchant, PayPal always offers you a solution that best suits your needs. But as the sphere of digital payments grows, online scammers also strengthen their positions. Although PayPal, like any other payment provider, implements state-of-the-art methods to prevent online fraud, there is no way to be 100% protected against scammers. These are the most frequent PayPal scams you should be aware of.
- Payment in advance
- Investments and donations «Charés»
- Fake address
- Pirated PayPal account
Ever heard of PayPal purchase protection? The PayPal reimbursement policy is part of the buyer’s security guarantee, which refers to the safety of personal information, protection against fraud and resolution of disputes, read more about it on their official page. PayPal always got you covered