An-introduction-to-PayPal-and-how-it-works

Make a deposit into your account To load money into Paypal account, you can do one of the following 3 ways:  Switch from account bank, Visa or MasterCard  Use Paypal Cash how to top up

1 Part 1: An introduction to PayPal and how it works

PayPal Holdings, Inc is: an American company

operating a worldwide online payments system that

supports online money transfers and serves as an electronic alternative totraditional paper methods like checks and money orders The company operates as a payment processor for online vendors, auction sites, and many other commercial users, for which it charges a fee in exchange for benefits such as one-click transactions and password memory

Established in 1998 as Confinity, PayPal had its initial public offering in

2002 It became a wholly owned subsidiary of eBay later that year,

valued at $1.5 billion In 2015, eBay spun off PayPal to eBay's

shareholders The company ranked 204th on the 2019 Fortune 500 of thelargest United States corporations by revenue

2 Early history:

PayPal was originally established by Max Levchin, Peter Thiel,

and Luke Nosek in December 1998 as Confinity, a company that

developed security software for handheld devices It had no success with

that business model, however, so switched its focus to a digital

wallet The first version of the PayPal electronic payments system was launched in 1999

In March 2000, Confinity merged with X.com, an online banking

company founded by Elon Musk Musk was optimistic about the future success of the money transfer business Confinity was developing Musk and Bill Harris, then-president and CEO of X.com, disagreed about the potential future success of the money transfer business and Harris left thecompany in May 2000 In October of that year, Musk decided that

X.com would terminate its other internet banking operations and focus

on PayPal That same month, Elon Musk was replaced by Peter Thiel as CEO of X.com, which was renamed PayPal in 2001 and went public in

2002 PayPal's IPO listed under the ticker PYPL at $13 per share and generated over $61 million

3 Office:

PayPal's corporate headquarters are located in the North San Jose

Innovation District of San Jose, California, at North First Street

campus The company's operations center is located in Omaha,

Nebraska, which was opened in 1999 Since July 2007, PayPal has

operated across the European Union as a Luxembourg-based bank The PayPal European headquarters are located in Luxembourg and the

international headquarters are in Singapore PayPal opened a technology center in Scottsdale, Arizona in 2006, and a software development center

in Chennai, India in 2007 In October 2007, PayPal opened a data serviceoffice on the north side of Austin, Texas, and also opened a second

operations center in La Vista, Nebraska that same year In 2011, joining similar customer support operations located in Berlin,

Germany; Chandler, Arizona; Dublin and Dundalk, Ireland; Omaha, Nebraska; and Shanghai, China; PayPal opened a second customer

support center in Kuala Lumpur, Malaysia, and began the hiring

process In 2014, PayPal opened a new global center of operations in Kuala Lumpur

Services:

As of 2020, PayPal operates in 202 markets and has 305 million active, registered accounts PayPal allows customers to send, receive, and hold funds in 25 currencies worldwide

PayPal's services allow people to make financial transactions online by granting the ability to transfer funds electronically between individuals and businesses Through PayPal, users can send or receive payments for online auctions on websites like eBay, purchase or sell goods and

services, or donate money or receive donations It is not necessary to have a PayPal account to use the company's services PayPal account users can set currency conversion option in account settings

From 2009 to 2016, PayPal operated Student Accounts, allowing parents

to set up a student account, transfer money into it, and obtain a debit card

for student use The program provided tools to teach how to spend

money wisely and take responsibility for actions PayPal discontinued Student Accounts in August 2016

In November 2009, PayPal opened its platform, allowing other services

to get access to its code and to use its infrastructure in order to enable peer-to-peer online transactions

In 2007, PayPal acquired the online credit product Bill Me Later,

Inc., which has since been rebranded as PayPal Credit and provided services for Comenity Capital Bank, the lender of PayPal Credit

accounts Founded in 2000, Bill Me Later is headquartered in Timonium,Maryland PayPal Credit offers shoppers access to an instant online revolving line of credit at thousands of vendors that accept PayPal,

subject to credit approval PayPal Credit allows consumers to shop

online in much the same way as they would with a traditional credit card.The rebranding of Bill Me Later as PayPal Credit also means that

consumers can use PayPal Credit to fund transactions virtually anywherePayPal is accepted In 2015 PayPal agreed that PayPal Credit would pay

a $25 million fine to settle a complaint filed in Federal Court by

the Consumer Financial Protection Bureau

The PayPal app is available online or at the iTunes App

Store and Google Play One year after acquiring Braintree, PayPal

introduced its "One Touch" service, which allows users to pay with a one-touch option on participating merchants websites or apps

On November 28, 2011, PayPal reported Black Friday brought record mobile engagement including a 538% increase in global mobile paymentvolume when compared with Black Friday 2010

In 2012, the company launched "PayPal Here", a small business mobile payment system that includes a combination of a free mobile app and a small card-reader that plugs into a smart phone

PayPal launched an updated app for iOS and Android in 2013 that

expanded its mobile app capabilities by allowing users to search for localshops and restaurants that accept PayPal payments, order ahead at

participating venues, and access their PayPal Credit accounts (formerly known as Bill Me Later)

On October 21, 2020, PayPal announced a new service allowing

customers to use cryptocurrencies to shop at 26 million merchants on thenetwork starting in 2021 As part of the announcement, PayPal secured the first conditional cryptocurrency license from the New York State Department of Financial Services, which will allow customers to

purchase cryptocurrencies such as Bitcoin, Litecoin, Ethereum,

and Bitcoin Cash

How PayPal works:

PayPal provides payment services and solutions for both individual

consumers and businesses The company allows individual consumers to shop, pay and transfer money with ease Users need an email address to

sign up for an account and must provide a credit card, debit card or bank account to complete setup PayPal verifies all information to ensure that the person setting up the account is the rightful owner before the service can be used.

PayPal account holders can use the company's website or mobile

application to transfer money to others using the recipient's email

address or mobile phone number Shoppers can choose to choose PayPal

to complete their online purchase if the retailer has a payment service linked to PayPal Transactions are completed within minutes, and funds transferred for payment or withdrawal will be deposited into your bank account instantly

PayPal also provides businesses with payment solutions for their day operations This includes payment gateways for both direct and online transactions, business management solutions, as well as credit andfinancial options Business owners must also provide an email address tocreate an account

day-to-PayPal makes online purchases more secure by offering a form of

payment that does not require payers or payees to disclose credit card numbers or bank account numbers As a result, money is transferred

securely, privacy is protected, and since the customer base is so large, transactions are processed faster than traditional methods.

Figure 1: How PayPal works

1.

Accounts

A) Conditions:

 Be 18 years of age or older and have an ID card or ID card

 Owning one of the following cards: Visa, Mastercard, American Express.

 Have email address.

 There is a need to conduct international transactions.

 Have internet connection for devices such as phone, computer

B) Visit the paypal site and choose to register (Free Sign Up)

Select the function "Buy with Paypal" if you want your personal account and if you want

to create an account for your business, select "Sell with Paypal" then click "Start" and follow the instructions.

2 Make a deposit into your account

To load money into Paypal account, you can do one of the following 3 ways:

 Switch from account bank, Visa or MasterCard

 Use Paypal Cash (how to top up at PayPal's agents)

 Deposit money by transferring from Paypal to another account.

However, in Vietnam, PayPal does not support how to top up via bank accounts, Visa or MasterCard and Paypal Cash Therefore, you can only transfer money from other

accounts to your own account by purchasing Paypal at the website providing the

service.

When you make a transaction using Paypal, if your account is short of money, PayPal will automatically withdraw money from the Visa card you used to verify and complete the transaction Even though the amount in your card is VND, Paypal will also convert to USD by itself to make the transaction.

3 Card authentication

The next part of the Paypal manual is to verify the Visa card you used when registering

to make transactions without limitation.

4 Using

A) Payment online :

B) Trafer the money ( Your account need more than 10 dollar )

To load money into Paypal account, you can do one of the following 3 ways:

 Switch from account bank, Visa or MasterCard

 Use Paypal Cash (how to top up at PayPal's agents)

 Deposit money by transferring from Paypal to another account.

However, in Vietnam, PayPal does not support how to top up via bank accounts, Visa or MasterCard and Paypal Cash Therefore, you can only transfer money from other

accounts to your own account by purchasing Paypal at the website providing the

service.

When you make a transaction using Paypal, if your account is short of money, PayPal will automatically withdraw money from the Visa card you used to verify and complete the transaction Even though the amount in your card is VND, Paypal will also convert to USD by itself to make the transaction.

5 Card authentication

The next part of the Paypal manual is to verify the Visa card you used when registering

to make transactions without limitation.

6 Using

C) Payment online :

D) Trafer the money ( Your account need more than 10 dollar )

following cards: Visa, Mastercard, American Express.

 Have email address.

 There is a need to conduct international transactions.

 Have internet connection for devices such as phone, computer

B) Visit the paypal site and choose to register (Free Sign Up)

Select the function "Buy with Paypal" if you want your personal account and if you want

to create an account for your business, select "Sell with Paypal" then click "Start" and follow the instructions.

2 Make a deposit into your account

To load money into Paypal account, you can do one of the following 3 ways:

 Switch from account bank, Visa or MasterCard

 Use Paypal Cash (how to top up at PayPal's agents)

 Deposit money by transferring from Paypal to another account.

However, in Vietnam, PayPal does not support how to top up via bank accounts, Visa or MasterCard and Paypal Cash Therefore, you can only transfer money from other

accounts to your own account by purchasing Paypal at the website providing the

service.

When you make a transaction using Paypal, if your account is short of money, PayPal will automatically withdraw money from the Visa card you used to verify and complete the transaction Even though the amount in your card is VND, Paypal will also convert to USD by itself to make the transaction.

7 Card authentication

The next part of the Paypal manual is to verify the Visa card you used when registering

to make transactions without limitation.

8 Using

E) Payment online :

F) Trafer the money ( Your account need more than 10 dollar )

A) Conditions:

 Be 18 years of age or older and have an ID card or ID card

 Owning one of the following cards: Visa, Mastercard, American Express.

 Have email address.

 There is a need to conduct international transactions.

 Have internet connection for devices such as phone, computer

B) Visit the paypal site and choose to register (Free Sign Up)

Select the function "Buy with Paypal" if you want your personal account and if you want

to create an account for your business, select "Sell with Paypal" then click "Start" and follow the instructions.

2 Make a deposit into your account

To load money into Paypal account, you can do one of the following 3 ways:

 Switch from account bank, Visa or MasterCard

 Use Paypal Cash (how to top up at PayPal's agents)

 Deposit money by transferring from Paypal to another account.

However, in Vietnam, PayPal does not support how to top up via bank accounts, Visa or MasterCard and Paypal Cash Therefore, you can only transfer money from other

accounts to your own account by purchasing Paypal at the website providing the

service.

When you make a transaction using Paypal, if your account is short of money, PayPal will automatically withdraw money from the Visa card you used to verify and complete the transaction Even though the amount in your card is VND, Paypal will also convert to USD by itself to make the transaction.

9 Card authentication

The next part of the Paypal manual is to verify the Visa card you used when registering

to make transactions without limitation.

10 Using

G) Payment online :

H) Trafer the money ( Your account need more than 10 dollar )