What is PayPal?
PayPal is the most used online wallet in the world, with over 184 million active users. It can be used as a payment method in 202 countries and is used more and more in the Netherlands too, where more than 4 million online purchases are paid through PayPal per year.
Customers connect their credit card or bank account to their PayPal account, or add credit to their account. When using PayPal to pay for a purchase, the customer logs in and authorises the payment with just their e-mail address and PayPal password. No further personal and financial details need to be shared with the website, which makes PayPal very safe. Payments can also be settled through smartphone or tablet, which allows customers to pay anywhere with ease.
For customers, PayPal is a safe and easy way of paying for purchases online and it enjoys a high level of trust and confidence with them because they don’t have to share personal or financial details with a store or site. PayPal also offers both buyer and seller protection. Customers can have the full amount of their purchase reimbursed if they don’t receive an item, or receive an item that doesn’t fit the description. Sellers are protected against receiving unauthorised payments and unsubstantiated claims of not received products.
The usage of PayPal is quickly expanding beyond webshops to ticket-buying platforms, travel agencies and marketplaces.