What is PayPal and how do you use it?

PayPal is an online payment system that can be used worldwide. It is one of the most noteworthy and crowd-pleasing wallets of all time. It is a digital wallet, a wallet which electronically stores your details to help make your transactions easier. Visitdigitalwalletsnews.com for more digital wallets information

PayPal Holding, Inc. is an American company founded in December 1998, established as Confinity Inc.. The founders of this wallet are Ken Howery, Luke Nosek, Max Levchin, Peter Thiel, Yu Pan and Elon Musk.The headquarter is situated in the North San Jose Innovation District of San Jose, California, at North First Street campus.

It was written in C++, Java, JavaScript (as Node.js) and Python.

An online bank, X.com, was founded by Elon Musk in November 1999. Later on, in 2000, X.com merged with Confinity Inc.. The easy payment system of Confinity attracted Elon Musk and thus the two companies combined to form the digital wallet, PayPal. In 2001, eBay bought this wallet for 1.5 billion US Dollars.

The various divisions of PayPal are PayPal Inc, PayPal Pte. Ltd., PayPal Payments Pte. Holdings and PayPal Payments Pte Limited. The subsidiaries, the companies that are owned by another company is called the parent company, are Braintree, Paydiant, Honey, Venmo, PayPal Credit, Xoom Corporation, TIO Networks, Card.io, iZettle and  Tradera. The parent organisation of PayPal is eBay.

To use this wallet, you simply click the sign up button and decide what type of account you require, either a business account or a personal account. You then provide your email address, bank card information and other details. And then… You can pay in a New York minute.

Security

PayPal, in reality, is more secure than using cheques and bank cards. If you don’t receive an eligible item you have ordered, they offers a “payback” protection, it’s Buyer Protection. You will receive the full amount of the item ordered plus postage. As well as this, this wallet is end-to-end encrypted, a system of communication where only the communicating users can read the messages. Your data is stored on encrypted servers and so your account is mainly vulnerable to phishing, fraud etc. rather than being hacked or breached.

Features

A major feature of this wallet is it’s Virtual terminal. It is a web-based application with many benefits and advantages. You can accept credit card payments by accessing your account through it’s Virtual terminal.

It provides added protection to bolster your personal information to be secured. This feature goes over-and-above to keep your data safe from hackers and other cyber threats. A minor drawback to this extraordinary feature is that this wallet’s Seller Protection Policy does not apply to transactions processed using Virtual Terminal.

Another feature, the “Inventory Tracking”, allows you to track your inventory. You can set up this feature in your payment button. After this feature is enabled, you will receive email alerts on any occasion when your inventory runs low.

A few other bewitching features of that are worth having a looking at are:

• Barcode Scanning
• Bill Me Later
• Credit Card Reader
• Express Checkout
• Inventory Tracking
• Mobile Card Reader
• Online Invoicing
• PCI Compliance
• Shopping Cart

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