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العربيةPayPal What is PayPal?
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PayPal is a global payment system that is used in more than 200 countries and almost all online stores support this system. By simplifying payment methods and providing various services, PayPal has gained a good reputation in recent years and has become the most popular online payment system.
PayPal was founded in 1998 and was initially a portal for pursache from eBay. The use of PayPal changed in 2001, and it is currently the world’s largest foreign exchange payment system. According to statistics, the number of PayPal users has exceeded 270 million and supports 100 different currencies. The transaction volume of this platform in 2021 was 10 billion transactions.
PayPal is actually an electronic wallet that can be linked to a bank account. PayPal services include online payments on all sites that support it, sending money to different parts of the world and receiving money in the easiest possible way. This payment method is one of the safest, fastest and cheapest ways of online shopping and currency transfers to all parts of the world.
PayPal was created to create an international currency, outside of government control, and as an alternative to traditional payment methods, and has gained attention over time. Currently, due to the simplicity of use and high security of this payment system, it has been used by everyone. Also, sellers prefer it because it is easier to get a PayPal port than Visa and MasterCard. In order to open an account, you must first authenticate, then your bank account deposits will be checked and confirmed, and finally, by entering your email account and password, you will be able to use it.
Due to the economic sanctions of the United States and European countries, it is not possible to directly use PayPal services in Iran and several other countries. Dear merchants, you can contact us for any currency transfer or purchase from international sites, using PayPal.
In the rest of the article, stay with Qoqnous Trading to review the uses of PayPal and its benefits, how to open an account, how to convert to Rials, and its various fees.
How does PayPal work?
People can make their currency transfers online using this system. In fact, the transfer of money in PayPal is done by email. Users can create virtual or electronic accounts and transfer currency easily in a secure network.
This system allows its users to create an account on the PayPal.com website simply and in the shortest possible time, using personal information and an email address. In the next step, PayPal asks the user to activate their account, connect it to a bank account or credit card and then confirm it. After verifying the account, the user can transfer the currency amounts in the bank account or the currency balance of his credit or debit card to PayPal. You can even directly transfer your bank account balance to another account through your account.
In this way, the money that has been in the form of a balance in a bank account or debit card, is placed inside a network of PayPal accounts. Now you can make online purchases or transfer and receive money through PayPal portals. The security of this system is so high that it can monitor all transactions and ensure no abuse and theft.
PayPal Usage
PayPal has many uses, the most important of which are mentioned below.
International money transfer
Using PayPal, you can deposit money to the accounts of people around the world or receive money on the contrary. Transferring money using this system has significant advantages. In this way, if the recipient’s account has no limits, he can receive the amount sent immediately. The transaction limit increases to $800-1,000 in the first months of account opening, and to $2,500 per month in the following months. The cost of money transfer is about 2.5 to 4.5%, and this amount can vary according to the status of the recipient’s account. But the PayPal account sometimes has restrictions that prevent the unconditional transfer of money.
PayPal payment gateway
In addition to providing purchase services from international sites and currency transfers, this system has also provided other facilities, the PayPal payment gateway is a suitable option for receiving fees and salaries. Content production, graphic work such as logo design, programming, website design, etc. are things that can be done as a freelancer and earn dollars and get paid with PayPal.
You can convert the balance of your verified PayPal account to Rials by Qoqnous Trading Exchange and receive it.
Internet purchases
By having an active PayPal account and charging it, you can make online purchases from all websites with a PayPal payment gateway. This payment method is supported by many stores and businesses. You can make purchases from Alibaba and Amazon by having a PayPal account.
Payment on foreign sites is made using PayPal, for Iranian users, with the following two conditions:
- The receiving website must be equipped with a PayPal payment gateway.
- That website can send goods directly to Iran and has not included Iran in its sanctions list.
As you know, buying directly from Alibaba and Amazon sites is not possible for Iranian users. If you want to buy from international sites and pay the related fees, you can contact Qoqnous business experts so that we can do it for you in the shortest possible time.
Booking and paying for a foreign hotel
Today, book your desired hotels in all countries and cities of the world online. PayPal has provided the ability to book and pay for hotels in all parts of the world, provided that it is supported on the site.
Other uses of PayPal
- Instant billing
- Donating money to charitable foundations
- Pay by phone
- PayPal Fees
PayPal does not charge its users a fee to pay for shopping, but it charges different fees for other services, depending on the type. There is also no fee for standard money transfers from an account connected to PayPal, but for instant money transfers you have to pay 1% of the amount transferred plus a $10 fee.
Transfer fee per country
The PayPal transaction fee depends on whether the transaction was made from within the United States or not. If the transaction was made within the United States, in addition to the fixed amount of 30 cents, you must pay about 2.9 percent of the total amount for the fee. . If transfers are made inside a country other than America, the fee is different according to the type of currency used and on average it is between 0.3% and 4.4% of the total amount.
PayPal fees for online purchases
To buy from online stores, you do not need to pay a fee, unless the currency in the account is different from the destination currency. In this case, you have to pay a fee, which, of course, is not much.
PayPal transfer limit
The minimum and maximum amount that can be transferred with PayPal is different and depends on parameters such as the type of account, the amount of transactions and the duration of the account opening. But the minimum amount is 10 dollars and the maximum is 10 thousand dollars. To transfer larger amounts, we suggest using Western Union.
Advantages of using PayPal
This payment method has many advantages, which we will discuss below.
Simple to use
It is very simple and convenient to use PayPal for both shopping and payment. Only by connecting a credit card to your account, you can make withdrawals, credit increases, etc.
Record transactions
Transactions are recorded and all your transfers can be accessed by going to the relevant page. This advantage allows you to monitor your account and receive relevant invoices without worry.
Can be used on mobile
In addition to the desktop version, PayPal also has a mobile application that is very easy to use. Using this application, you can make transactions anywhere and anytime.
Affordable transfer
What makes this system different from other payment methods is its affordability. Because PayPal is actually an electronic wallet that can be linked to a bank account, while credit cards follow a currency transfer rate. Since the main goal of this company is to support buyers, the buyer does not pay a fee for transferring money. It also charges different fees for other services it provides, depending on the type. For example, for standard money transfer from the account connected to it, no fee is charged, but for instant money transfer, you have to pay 1% of the account balance plus $10 fee.
Special discounts for loyal users
This internet wallet has special discounts for its regular and loyal customers.
High account security
PayPal has one of the safest and best payment gateways. In this platform, information is exchanged in an encrypted form and it provides conditions that no agent can access this information.
Also, a lot of money has been spent on setting up hardware and software firewalls and intrusion prevention systems, through which it can monitor the entire traffic moment by moment.
If you transfer money to buy goods through PayPal and the seller has not sent the goods to you, you can report your complaint. After filing a complaint, it informs the seller and sets a deadline for responding. If the seller does not have a convincing answer, your payment will be withdrawn from the seller’s account and returned to you.
last word
As mentioned, PayPal is the most popular payment system used in many countries around the world. This system has applications such as currency transfer, the ability to buy from international sites. Among the advantages of this payment system, we can mention its high speed and security and its cost-effectiveness. You can contact Qoqnous business experts to receive all PayPal services.