Pay pal can be roughly translated as “assistant for payments.” The concept of involving a third-party facilitator in the conduct of electronic transactions due to the presence of serious vulnerabilities of traditional plastic cards.
When you purchase via the Internet, you need to specify your card details, including CVV code. This creates a risky situation. The seller gets their hands on a full set of billing data of the client and at any time, at their pleasure, may remove money from a Bank card.
While there is absolutely no need to get physical access to the card, funds are withdrawn from your card account instantly after filling out payment forms online.
Naturally, the vulnerability of Bank cards has led to multiple fraud and there is an urgent need to guarantee the security of card payments through online.
The principles of operation PayPal
Imagine a hypothetical situation when you need to buy something in a dangerous place. You do not want to take risks personally and are looking for a serious mediator “cool” guy who for certain commissions go to this Katran, make a deal and bring you the goods.
That’s the way the system works secure payments through PayPal.
The client passes the money on Deposit in a PayPal escrow.
When a customer wants to make a money transfer or to pay for goods and services online, it is order and then all operations are performed on behalf of and with the payment of accounts assistant on behalf of PayPal.
PayPal is the specified online store and makes a purchase on your behalf, pays from your account.
Any personal and payment data of the end customer online not appear. This ensures the security and privacy of electronic payments.
Similarly, for providers. On the website of the online store is set by the payment gateway PayPal and all the money goes through a secure channel. And then the owner of the Internet store can easily and safely transfer the money to your Bank account.
Features PayPal payment assistant
Currency conversion is done inside the system. For today in circulation is about 25 convertible and more than 100 world currencies. PayPal works almost worldwide, in more than 200 countries. In our country PayPal began to actively settle only after 2011 and we need to say, the gain of a Runet the market of electronic payments is quite successful.
The first PayPal customers were members of different kind of auction sales, where buyers often are interested in preserving incognito, in order not to become victims of criminals after the acquisition of valuables.
An additional advantage of PayPal is that the money will be transferred to the seller only after the buyer confirms the delivery and your full satisfaction. Otherwise the funds are returned at the buyer’s Deposit.
Easy start c PayPal
To become a subscriber of PayPal to use the service secure payments, you must have e-mail and Bank card. Most often used are sufficiently protected Gmail, although for corporate clients operating large amounts, it is better to use commercial business mails with elevated terms of cyber security and encryption.
Well, Bank card required full international level, not an anonymous type of Momentum.
To identify the service PayPal, the user specifies all the details of your card and email address.
This Email will be used as the account and the customer account number in PayPal.
On the card account you need to have a amount of a few dollars for the procedure confirmation of ownership, that this is your map and you have the right to dispose of the money in the account.
PayPal takes about $ dollar card account and thus confirmed the identity of the user.
Worry about the money not need is not a fee for registration (which is free). The money will be returned to your card in a few minutes after all the checks.
PayPal works on the principle of prepayment for purchases and transfers, you must first add money to your account.
Remittances can be done directly on the electronic address of the subscriber. For example, if you do not know the credit card number of your friend who want to help with money.