PayPal is an online payment service provider allowing individuals and businesses to transfer funds electronically in a secured manner.PayPal is one of the safest ways to send money online because the payments are sent without sharing financial information. As a fact, PayPal never shares their members' with any merchants.Originally, a PayPal account could be funded with an electronic debit from a bank account or by a credit card of payer's choice. However sometime in early 2011, PayPal began to require a verified bank account after the account holder exceeded a predetermined spending limit.
A paypal account can be used to pay any online auctions, to purchase goods and services, or to make donations. The account can even be used to send cash to someone.Funds transferred via PayPal reside in a PayPal account until the holder of the funds retrieves them or spends them. If the user has entered and verified their bank account information, then the funds can be transferred directly into their account. Paypal use an encryption software to allow people to make financial transfers between computers a method that has turned into one of the world's primary methods of online payment.PayPal boasts more than 100 million accounts worldwide.
