You’ve probably heard of PayPal, and maybe you’ve even paid some invoices on PayPal. Maybe you’re a small business working after that six-figure business and you’re wondering, “Oh is PayPal something I should be using? Is it even safe?” Well, let me just share with you a few of the details about PayPal and that’ll put all of those fears to rest.
First of all, PayPal has been around pretty much since the beginning of online transactions. PayPal is the top dog. They own a lot of the other smaller companies like Venmo and several others. And in fact, they used to be the only payment method accepted on eBay which handles transactions from all over the world. So, PayPal has a long track record, they’ve got a great history and they’ve got a really strong encryption system to keep your transactions safe. One of the things that PayPal does to keep your financial information safe is that it doesn’t share financial information with the sender or the receiver. PayPal won’t have a record of your social security number, or your account number, or your routing number, which it’s going to share with any of your clients.
PayPal also has something called website purchase protection for both buyers and sellers. Now, one of the reasons for PayPal being such a leader in this industry and one of the forefront leaders is that they came up with something to protect their buyers and their sellers. So, they developed something called website purchase protection. Now, this allows a buyer or a seller to log a dispute about the transaction. PayPal has an excellent conflict resolution system. What they do is, they track everything that goes on between the buyer and the seller through an online platform where they’re seeing all the transactions and even sometimes some comments.
PayPal is one of the oldest platforms of payment and they’ve kept their model to this date. You’ll see most places that you go online will offer PayPal as a payment method. They’ve even got their credit department now, where you can have a PayPal credit card. PayPal is also a common mode of overseas transactions. You can send funds to practically anywhere in the globe using PayPal. However, this service doesn’t come for free. PayPal charges its currency conversion rates depending on the country to which you are sending funds. PayPal currency converter is a simple tool that can be used to figure out the amount that PayPal charges to send money abroad. PayPal currency converter is a conversion calculator for personal and business transactions via PayPal.
PayPal is an established entity and with the established entities comes trust. Because they’ve been around, they’ve been doing business, they’ve been through the thick and thin of all of the e-commerce transactions. So if you need as a merchant to take payments, PayPal is a very safe thing to do. PayPal has got everything encrypted and your information is protected. I’ve used PayPal since almost the beginning of the PayPal days. So, I wouldn’t recommend anything to you that I don’t use myself.