E-commerce in the 21st century has become one of the most promising methods of payment between seller and buyer. Evidence of this is at least the fact that in Russia alone in 2013 the volume of the electronic money market exceeded 2 trillion rubles. If you compare this figure with 2012, you can see that the e-commerce market has grown by 23%. From these figures it is easy to understand that electronic payment systems are gaining more and more popularity every year.
Consider one of the most common e-commerce systems in the world - PayPal.
System birth
The history of PayPal dates back to March 2000, when it was invented (as a result of a merger) by several students, one of whom was an emigrant from the Soviet Union (Max Levchin).
Immediately after its creation, the company began servicing electronic auctions, in particular, the world-famous eBay (in one month of existence, more than one million eBay auctions offered payment by PayPal).
In 2002, the giant eBay corporation acquired PayPal, and from that moment 50% of purchases at the auction occur through the latter.
In 2012, 190 countries could pay or trade using PayPal, and 24 currencies from around the world were in the arsenal of the system. The beginning of 2015 was the moment of the split between eBay and PayPal, and now they are two different corporations.
registration
So, the PayPal system. What is it and why does it exist, we figured out. To get started at PayPal you need to go through the registration process. To start registration in PayPal, you need to go to the official website (it’s the only one for all countries, but for convenience you can select the desired language on it), click on the “Register” button and in the next window select the tab “Personal Account”, then click on the button "Proceed".
After that, the browser is redirected to the page where you should indicate the country of residence, email, set a password for entering the system (it should consist of at least 8 characters, and it is better to enter both letters and numbers).
The next stage of registration is to fill in personal information (name, surname, date of birth, nationality, city, street, zip code, as well as phone number). All data should be entered correctly in order to avoid further problems, since the account (or PayPal-wallet) will be opened using the specified data, which is then very difficult to change.
account activation
If all the fields are filled out correctly, you need to put a bird in the "User agreement" column, and then click on the "I agree, create an account" button. Then you should check your mail and activate your account by clicking on the link in the letter.
Adding a bank card
Let's consider how to top up PayPal. There is one more important question. It sounds like this: "How to transfer money to PayPal?" You must first attach the bank card to the system. This is done in the user menu. You need to click on the link "Connect and confirm my debit or credit card" (in the upper right of the site). After that, you will need to enter all valid card data, namely: last name, first name, type of card (Visa, Master Card, etc.), number, expiration date and the so-called security code (3 digits that are on the back of the card ), then click on the "Continue" button.
For the card linking process to be successful, and you can learn how to pay with PayPal, it is required that the card has an amount equivalent to $ 1.95. The system will automatically withdraw this amount of money to verify that the card really belongs to the owner. This money will not disappear, but will be returned to your account exactly one day later.
Withdrawal limits
For security reasons, PayPal system sets certain limits for withdrawing funds.
The minimum limit for CIS citizens is $ 50 or the equivalent in another world currency. The maximum withdrawal of funds per day (for residents of the Russian Federation) at the moment is 15,000 rubles, no more than 40,000 rubles can be withdrawn per month. PayPal payment system in Russia, which user reviews are credible, charges a minimum commission when withdrawing funds. This is a very good time.
How to learn more about limits and how to replenish PayPal? You need to go to the tab "My account" in your account.
How to transfer money to PayPal
To transfer money in the system (for example, to another account), just go to the menu and click on the "Send money" tab. In the window that appears, you will need to enter the data to whom the money will be sent (PayPal-wallet of the recipient), amount and currency. The default is US dollar, but you can always choose the equivalent in another currency, if necessary.
If the question is about transferring to your card, which is tied to the system, then it’s still easier, since the system provides for transferring PayPal money to your personal account. This can not but rejoice users. PayPal - what is it? As you can see, this is a very convenient payment tool.
To transfer funds to the menu, select "My wallet" and check the box "Transfer to a bank card", indicate which card should be credited to (since you can register not one but several cards at once in the system), enter the amount and click " Translate". In this case, payment occurs almost instantly, and if everything is in order with the bank (there are no problems with the network, say), then you can cash out the money from the card in 2 minutes.
Account Types
What is PayPal and how to use it, we figured it out. Now it's time to tell you what accounts are in the system.
Globally, PayPal accounts can be divided into 4 types (types):
- personal;
- Premium
- student;
- business.
The most common type of account is personal (or personal). They can freely both transfer money PayPal, and accept currency. In this case, contacts with various payers are provided. In order for the money to be delivered to the address, you just need to have a PayPal wallet and email address. This is all and limited. The user cannot send or receive money from any type of card, only transfers within the system are allowed.
Premium accounts have added specialized features that are not available to other users. If you are interested in the question of how to transfer money to PayPal from a card, this type of personal account will help to answer it. It is in the premium account that you can freely withdraw money to the cards of other participants or accept funds to your card through the system.
A student account is an innovation in the electronic payment system. With its help, you can easily answer the question of how to transfer money to a child’s PayPal account if he studies or lives abroad. A person must be at least 13 years old in order to be able to open an account without any problems. One of the parents has the right to have up to 4 such accounts. In this case, the real account is not opened, but the system of replenishing the student account from the parent takes place.
A business cabinet allows the user to use the service to the maximum. You can accept payments as an enterprise, there is no limit on currency turnover per day, and, most importantly, you can accept money into an account from any other bank or from an electronic wallet (not PayPal). Unfortunately, there is no such possibility in the types of accounts discussed above.
User verification
First, let's define the phrase "PayPal user verification", what it is, we will also consider it. We explain the word verification in simple words. It means confirmation (in a literal translation), and in our case, confirmation of the veracity of the completed information about the user who is registered in the system. That is, the system requires certain actions on the part of the user in order to make sure that the information that he submitted is 100% truthful (for example, you can register as Vasya Pupkin, but in fact it doesn’t be).
Until the user is verified, payments can be made, but with certain restrictions. To remove the latter, you need to send a scanned copy of the passport (with registration) in electronic form or by mail and confirm the mobile phone number. This data is confidential, you can be sure that they will not fall into the wrong hands through PayPal.
Verification Benefits:
- sending and receiving any amount of money at any time of the day;
- trust in a verified user is several times greater than in an unconfirmed one;
- lightning fast sending of payments from a bank account without delays and other minor troubles;
- the presence of exclusive services (among them - seller protection)
Why paypal?
Among all kinds of electronic payment methods on the Internet, PayPal takes the first place. And this is no accident. For PayPal - what is it, if not the safest place to store personal savings? Advanced technology and two-factor authentication determine fraud of any kind. Getting to your personal funds is almost impossible, even if the burglar is an experienced hacker. The account is tied to the physical key generated by the system. This key can be stored not on the network, but, say, on a flash drive. Without access to the key, no one will ever be able to steal any amount of money from the account.
A bit about the commission
How to transfer money to PayPal and not spend money on a commission? Actually nothing. The system charges a commission, but only on completed transactions. There is no need to pay for opening an account and its maintenance.
To withdraw funds to a check (real, which can be cashed at any bank), you need to give the system $ 1.5.
The commission depends on the country in which (or to which) the transfer will be made, on how to transfer PayPal money (bank or electronic transfer), as well as on the currency of the transfer.
For example: if you withdraw money from a personal account to your account in the USA, you do not need to pay anything, while in Bulgaria you will need to pay $ 2.5 for such a transfer.
The system also provides a return commission. If for some reason you need to return the funds back (how to transfer money to PayPal, described above), then a certain amount will also be deducted for this.
As for the commission within the system, it also exists, and depends on the country and other factors. In the system itself, 0.5-2% of the total transaction or transfer amount will need to be shared. Again, a specific figure cannot be called, since it all depends on many factors.
Conclusion
From the foregoing, it became clear what PayPal is and how to use it. In any case, the choice will always be yours. The system has established itself and proved the right to exist by the fact that it has been trusted by millions of people around the world - it has existed for more than 15 years. If the question is about transfers within the Russian Federation, then you can find an alternative, but if the receipts come from different countries, then PayPal should definitely be chosen.