PayPal is a company that operates from America and processes worldwide online transactions supporting online money transfer. It is an online method to move your money in an electronic manner rather than using paper form of money like Cheques, Cash, and Money Order. It became one of the world leaders in Electronic payment and came to be used in many transactions after signing up with online vendors, auction sites and many other commercial sites for which it charges a particular amount for every transaction.
The amount of additional cost depends on from country to country. Online commercial vendors and merchants like eBay, Flipkart, Amazon, etc. all have accepted PayPal as one of their methods for electronic transfer of money to buy goods online.
If you are a new person for an electronic transfer of your money, you might be questioning whether it’s safe since you might not have heard much about it. Secondly, there are many other options available like Maestro, MasterCard, Bill Desk, Pay TM, etc. so why PayPal.
Well, you will get all your answers for this question below. What are benefits of using PayPal over PayPal alternatives?
Firstly let me tell you all other PayPal Alternatives that you have as an option.
and some more.
Advantages of Using PayPal
If you haven’t used PayPal yet, Reading following Advantages of using PayPal you will surely be likely to start using PayPal for your transferring of money.
1. Security of Your Credit Card
If you wish to use PayPal, once after you sign up for your PayPal Account you need to feed in your credit card and bank account details, you prefer to use for purchasing online but only for one time and that too on the PayPal secure system. Once you have fed it, you never in future have to disclose your banking details or credit card details for your next purchase. Hence PayPal understands your risk for online transferring of money and hence keeps your business information private so that you need not enter again and again and ensure whether the site where you are purchasing from is safe. After Using PayPal, you are free and can shop without worrying from hackers downloading your banking details through online merchants.
2. Money Transfer
Using PayPal can relieve you from issues like shortage of money during a trip or vacation. In case your child studies or works far away from you and you need to transfer money to him. You can do it easily with PayPal. PayPal allows you to move your money without any trouble globally with just a click over phone or laptop. Now PayPal does not charge you with heavy amounts like the Western Union does and also does not require much time as the Western Union does.
3. No Issue of Embarrassment
Being a PayPal user, you also get an advantage of relieving yourself from all embarrassment and hassle that you face while trying to purchase goods online and just gets your credit card declined. PayPal allows you to add multiple Credit Cards and Bank Accounts in your single PayPal Account. So in case you are short of money for one card or bank account, PayPal does not decline your request and process your demand through automatically paying through another credit card or bank account having that much amount.
Being a PayPal user, you also get special bonus points or cash back or some discounts that PayPal sponsors its users. By visiting shopping.paypal.com, you get latest offers that PayPal is giving it users on various selected brands like Wal-Mart, Nike, HP, etc. All you need to do is that copy the promo codes provided by PayPal for its users and paste it while shopping for that particular brand products.
5. Free of Cost
If you too are conservative in nature and would not like to spend extra money for transferring your amounts, PayPal is a solution for you. PayPal does not charge you extra money for Service Charge, Annual membership charge or Processing Charge. PayPal users do not pay a dime for shopping online.
6. PayPal Application
Launching its application PayPal makes it more convenient for its users to buy online and transfer money in electronic terms. All you need for this is to download an application from the store. Now you are ready to transfer money, pay bills, review your transactions, and add credit cards or bank accounts, much more just using a simple application and that too just with a tap. In case your phone will be lost, need not worry since PayPal always sends and OTP for every transaction you perform. For iPhone Users, you can transfer your money just by bumping your iPhones together.
PayPal and eBay are the two flaps of a coin. You cannot talk about PayPal without mentioning about eBay since it is integrated with online auction powerhouse. You can safely place a bid for purchasing online. This means PayPal users are most safe when it comes to offering online on worlds one of the biggest shopping sites.
8. Recurring Payments
Using PayPal, you can set your recurring payments just with a go. No need to remember the hectic payment schedules and pay the extra charge in case you forget the deadline. Once you setup all your monthly subscriptions go on free minded.
If you are using PayPal, you can pre-order by ordering ahead and save your time. For this, you can also pay using PayPal account.
10. Account Opening
Unlike others, it is quite simple to open your PayPal Account. You just need a valid Email-ID and a valid bank account or credit card number.
11. International Payments
PayPal gives you the opportunity of paying and accepting payments in 23 different currencies that too at very low cost. For amounts up to $100,000, PayPal charges a nominal amount of 3.9% along with a small fee that differs with a country.