With most businesses going cashless and also with the advent of e-commerce, PayPal has become like a basic need for many merchants, businesses and buyers. PayPal is an American company operating a worldwide online payments system that supports online money transfers and serves as an electronic alternative to traditional paper methods like checks and money orders. The company operates as a payment processor for online vendors, auction sites, and many other commercial users, for which it charges a fee in exchange for benefits such as one-click transactions and password memory. PayPal’s payment system, also called PayPal, is considered a type of payment rail.
Opening a PayPal account
If you want to create a PayPal account, follow these steps.
- Go to PayPal website or download their app from Play Store or App Store
- Click on ‘Sign Up’
- Choose from 2 types of accounts, either ‘Personal account’ or ‘Business account’
- On the next page enter your email address and other personal information in the fields provided
- Link your debit or credit card, or even bank account
- The final step is the verification/activation process
- Proceed to click on ‘Confirm email address’
- PayPal will automatically send a link to your email
- Access your email account and open the email from PayPal
- If you can’t find the verification mail, check in your Spam folder
- You can also resend the email by clicking on ‘Confirm Email’ under the Account Summary page on PayPal
- Click on the link provided in that email
- Your account will be activated thereafter