How to setup a Paypal account for Secure Online Transactions? (10 Steps to Go)
PayPal is the faster, safer way to send money, make an online payment, receive money. To do this you must create a PayPal account. PayPal is a global e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as checks and money orders. How to setup a PayPal account to receive money.
- Paypal established on 1998.
- On October 3, 2002, PayPal became a wholly owned subsidiary of eBay. Its corporate headquarters are in San Jose, California, the United States at eBay’s North First Street satellite office campus. Let us learn the details of How to open a Paypal account.
- On March 17, 2010, PayPal entered into an agreement with China UnionPay (CUP), China’s bankcard association, to allow Chinese consumers to use PayPal to shop online.
So This is the background of Paypal. It goes to the best and genuine money transaction platform. Here the PayPal is very important to receive online earnings to your bank account securely. Let us now learn how to setup a PayPal account.
For several years now, PayPal has solidified itself as the payment system of choice for anybody operating online. When people worked over the Internet, you would have assumed that some hassle-free credit-card payment system would have been the system of the option.
However, the cumulative greediness of the significant credit card processors created a void online, where companies without a great deal of available capital required a low-cost method to offer perspective on the internet customers with a fast and hassle-free way to pay for points online.
The requirement for a low-cost and also practical payment system was fed by the millions of transactions taking place on eBay. where most vendors had little expendable money to pay for a credit card payment system.
Many buyers only had a bank account and charge card to pay with, and most were cautious of inputting in their credit card information over the Internet. with so many instances of credit card numbers getting hacked on the web.
Go into PayPal, a system where both purchaser and also seller established a risk-free and safe account that can be fed with funds from a checking account, and where the only point required for monetary transactions on the web is an e-mail address.
This secure online transaction was the excellent remedy, providing sellers with one of the simplest means to accept repayments on the net, and with sellers, a “safe-zone” of transactions.
They could just use their e-mail address to purchase, and also leave the credit card numbers hidden. Follow this how to setup a PayPal account guide.
How to setup a PayPal account to receive money?
Paypal is a most popular online payment system. It helps you to complete online shopping without re-entering your card details and personal every time. You can setting up a PayPal account easily with few steps. Just follow the steps to create a Paypal account given below,
- In the second page, you need to select the country and PayPal account types. Paypal giving two types of accounts, An account for an Individual account and Businesses account.
- Just select an Individual account by pressing the button “Get Started” in the left box.
- You can change your account type based on your needs.
1. Freelancers account:
This account for shopping, to send and to receive overseas payments. This is all without sharing your financial information. To get this account you need to complete your KYC (Know Your Customer) verification and send – get payments safely.
To verify KYC, you need to complete these four steps:
- PAN Card Verification: Enter the valid PAN number for instant verification. Your name should match the name on your PayPal account.
- Confirm your Email: If you press the send confirmation link button, you will receive the confirmation link. just click the link from your email.
- Add your local bank account: Enter your local bank account details like Name, Mobile number, Account number, IFSC code, etc.
- Select purpose code: Select the purpose code that appropriately describes your business transactions. This is required under Indian regulations.
To know more details about KYC, check the details here
2. Business account:
The business account is accepting credit and debit cards and to send invoices to your overseas customers. This account needs KYC verification.
- You can do business easily with this account with low-cost merchants
- You can operate this account with a business name
- You can generate statements like financial and general reports
- You can use eBay tools
- You can provide multiple employees with limited access from your account
3. For Shoppers:
This is a simple and secure account for online shopping lovers. In this account, they are giving 50% instant cashback offer on first local PayPal purchase.
Note: do not advertise your PayPal Details before anyone. That is the key to your online transactions.
After opening your PayPal account, login into your account by using PayPal account login details. Now you can send the payments by using your debit or credit card. But to receive payment Your account must be verified with a local bank account. This activation or verification removes withdrawal limit from your PayPal account. The received money will be sent to your linked Bank account automatically.
Paypal is one of the oldest and trusted service. it helps you to send and receive payments all overseas. If you are from Asia or the United States of America, PayPal is the best and secured source to receive payments from overseas. Most of the advertising services are using the PayPal account. If you are a blogger/Internet marketer this article helps you on How to setup a Paypal account immediately and verify that.