What is PayPal?
It is an online payment platform with a website that make buying goods and service and receiving and transferring money safe and secure by linking your bank account, credit card, and debit card to create a PayPal account.
It is an American multinational finance company that helps individuals to shop without physically holding their credit or debit card information. It supports online money spending, transferring, and receiving money online it serves as a global marketplace.
A PayPal account can be referred to as an online platform where money is received, Sent, and transferred worldwide. when you have a PayPal account shopping online is made easy because you can pay for what you buy in any currency of your choice and receive money the same way.
PayPal dominates the digital payment scene. It has over 360 million active users and is accepted in more than 200 countries and regions, you can shop for any good across the globe and pay in your preferred currency.
It is the most significant online wallet service of an American financial institution registered in the United States and other countries like Singapore, Canada, Nigeria, Cameroon, Germany, Pakistan, Australia, and other countries.
Having a PayPal account is the same as owning a digital wallet that protects your information and helps you get more out of your payments. Your financial information is stored and kept private on an encrypted network, allowing you to shop and pay without repeatedly typing in your credit card information.
And if you are still unsure as to why you ought to purchase one we will discuss here how to create a PayPal account.
In some countries, you can create a PayPal account
- Singapore
- New Zealand
- Hong Kong
- Malaysian
- Philippines
- Mexico
- Canada
- United States
- Turkey
- China
- Pakistan
- Israel
- Sri Lanka
- Russia
- Kanya
- Indonesia
- Ukraine.
Few countries that do not Have access create a PayPal Account
- Ghana
- Afghanistan
- Myanmar and more.
Brazil and Germany are top among the countries that create a PayPal account the most as of the end of 2022, outranking both the United States and Canada. but now with these steps, you can create a Paypal account with easy.
Steps to Create a PayPal Account
- Go to your web browser(like Google Chrome or Firefox) and Type https//www.paypal.com
- After creating your account, on the official website of PayPal, Go to the Google Play store or your phone App store and download the official App for PayPal.
- Click on the sign-up button.
- Then choose an account type and click next. (note there are two account options, Personal and Business).
- If you are creating a business account, you will be asked to enter additional information about your business, like providing the type of business you do
- Enter your phone number in the spaces provided and click next a code will be sent to your phone.
- Add the code or number provided on your phone to the space provided.
- Confirm the code.
- Then follow the instructions and create your PayPal account.
- If you are creating a business account, you will add your email address and your business phone number.
- Check your email, get the code to follow the instructions, and create your PayPal Account.
- After providing all the details requirement you need to agree to PayPal terms and conditions before you can start using your PayPal account
- If you agree to the terms and conditions, you can use your account to send and receive money.
Types of PayPal accounts
1. Personal PayPal Account: As the name suggests, a personal PayPal account is used to make purchases and make payments in any currency to the retailer from whom you made the purchase, proving that you can shop wherever you want as long as you have the means to do so. therefore you can create a Paypal account for your personal use.
Steps to Create a Personal PayPal Account
- Go to www.PayPal.com
- Choose to sign up for a personal PayPal account
- Provide your email address and password
- Verify your email address
- Add your home country
- Provide other personal information as directed
- Add your credit card
- Add your bank account as a PayPal option
- Confirm the information provided is correct and click verify account.
2. Business PayPal Account: You can create a PayPal account that allows you to do business of your choice in any country since you can pay in their currency.
Learn how to build your business here.
The Top Social Media Platforms To Build Your Business: Sites to Download
Steps to Create a Business PayPal Account
- Visit the official PayPal official website
- Click on Open a Business account
- Enter your business email address
- Click on continue
- Enter your business password
- Then Click continue
- Enter your first name and your last name
- Enter your business name, address, and your number.
- Confirm the above
- Chose your preferred currency
- Enter agree and continue
- Enter your debit card details (like Expired date and other required information)
- A verification email will be sent to you
- Confirm and click on verify account
- Your account is ready.
Reasons why you should create a PayPal account
- Small businesses can use it.
- It is encrypted and helps to keep your data safe.
- It is easy to use and at your convenience.
How does a PayPal account work
PayPal works as an intermediary between you and a bank. As the user adds a bank account, credit, or debit card to the PayPal account system, when payments are done online, they can select which account to debit.
All transactions are processed by PayPal instead of your bank.PayPal does not charge any fee to set up or maintain Direct Deposit and Direct Deposit usually takes two pay cycles to begin but does vary across employers.
What is a PayPal Credit card?
PayPal Credit card is an online program. It is like a normal virtual credit card, but it can be used to make online payments on websites that accept PayPal. It also allows you to defer payments. You see the benefits of the create a Paypal account
Various means of using a PayPal account.
- For buying things, with a PayPal account, you don’t have to travel abroad to buy your best brand.
- For paying bills, you can pay the bills of your child, relation, or anything abroad from your home country.
- Request Payment: you can use a PayPal account to request payment, Enter an email address and add the amount requested, add a note to explain your request, then expect your money.
How to add a payment method to your PayPal Account.
- Sign in to your new PayPal account that you have created. then you may be asked if you want to link a bank account.
- Click the Wallet tab provided and create a business account, Click the Pay & Get Paid tab and select money.
- Click to link a card or bank.
- Then choose the type of account you want to link your PayPal to( linking a debit card, a credit card, or a bank.
- Select your bank if it is on the list but if not use the search button.
- Enter your account information exactly as it is in your account, Debit or credit account.
- Then agree on a link account or debit card.
Conclusion: Opening or creating a Pay Pal account for yourself or your business can be achieved by carefully following the steps discussed in this article.