Nowadays we can do various types of work online through internet. If you are a freelancer then you need to use an online payment system for various types of online payments and receiving money from clients. As a freelancer there are different types of digital services required. For those digital services we mostly have to pay some companies outside our country.
Now, we need a world wide online payment system to make these types of international payments easily. And, PayPal is one such international payment system, which is used to send or receive payments internationally. Many freelancers abroad are able to receive money through this PayPal payment system for doing various tasks for their clients. In fact, there are many other online payment systems like PayPal. However, when it comes to sending or receiving money internationally, PayPal is much more popular and widely used. In our today’s article we will discuss in detail why PayPal is so popular.
What is PayPal?
PayPal is a digital service, through which it is possible to receive payments or send payments very easily. And the entire payment process will be online. This online payment system can be used to transact money for one’s personal work purpose or for one’s business. Moreover, PayPal is used internationally for sending money abroad or receiving money from abroad. To transact money through PayPal, you need to provide your bank account and bank debit card information. After that, you can send money online from your bank account to any person, organization or company through PayPal.
Likewise, when someone sends money to your PayPal account, you can transfer that money to your bank account. Here the person’s email address is used as the payment address. Meaning, just as you are given an account number after opening a bank account, while creating a PayPal account, you have to provide your own email address. And, your email address provided while creating your PayPal account serves as your PayPal account number. So, in a word about PayPal, PayPal is an online service for sending and receiving money.
Why use PayPal?
There is nothing new to say about the use of PayPal. Because it has already been said that PayPal is used to receive and send money internationally. However, below are some other reasons why PayPal is used in most cases.
- It is possible to send money through just one email address without any hassle.
- In case of receiving money, you can only receive with the email ID associated with your PayPal account.
- With PayPal, international payments are very easy.
- You can also accept payments through PayPal internationally without any problems.
- PayPal is a very secure way to transact money online.
- Unlike buying products from various online shopping websites outside the country, there is an option to pay through PayPal.
- You can add multiple bank accounts and debit cards to your PayPal account. Therefore, in the case of money transactions, you can choose the bank according to your needs. Many people use PayPal for this convenience.
- Through the PayPal mobile app, it is possible to use it from your mobile.
Why is PayPal so Popular?
There are many reasons why PayPal is so popular even in such a competitive space. Three main reasons why PayPal is still at the top local level of the market for online payments are-
PayPal is Easy to Use
PayPal is straightforward when it comes to digital transactions. It’s easy to integrate with your website and offers a variety of point of sale systems if you want to use it for personal sales.
A chip card reader provided by PayPal helps you receive payments and it accepts payments from Apple Pay and Google Pay. Being compatible with other popular payment systems is one of the key elements of PayPal company’s success.
PayPal is Very Secure
We all know how important it is to keep our data safe. Nowadays, cyber-attacks are increasing. One of the main advantages of using PayPal is that it uses a central system to protect your personal information through encryption.
PayPal has an extra layer of security and helps protect you from fraudulent activity. If you make your purchases through PayPal and end up being scammed, you can claim a refund. It’s definitely a bonus and gives consumers a greater level of confidence when shopping on your site if they can pay via PayPal.
PayPal is Affordable
Depending on what you use it for, PayPal can be a cost-effective choice when it comes to making online payments. There are no fees for sending money to friends or family or for personal use. However, if you send money through PayPal for a business transaction, you will be charged a fee. If you want immediate access to your funds, PayPal charges a 1% fee. If you are happy to wait a few working days, you can access your money for free. PayPal can also be a great option for international transactions.
Currently, with the increase in the number of freelancers in the country, the demand for PayPal is also increasing at a very fast pace. You can let us know how you like our today’s article about why PayPal is so popular through our comments.