Through the PayPal process, an individual can buy services and goods from the dealer without disclosing his/her secret bank information to the seller. In this process, PayPal acts as a middleman. It shoulders the responsibility of collecting the money from the buyer and giving it to the seller. In case a seller fails to send the goods to the buyer, the PayPal procedure comes into the picture. It often penalizes the seller by revoking his/her bank account.
The occasional services that PayPal offers are absolutely free. At times, it is only the business class people who need to shell out a small amount of the total percentage of sales. The services offered by PayPal are indeed helpful in making a good amount of money every month. For instance, when an individual sells goods and services on eBay, it becomes easier to receive money via PayPal. The system of PayPal is integrated with the eBay services and when we talk about these two sites, and then the ground reality is that it is actually eBay that owns PayPal. If an individual is interested in using PayPal on eBay, then all he/she needs to do is just sign up for a free PayPal account.
At times, it indeed gets a touch difficult for businessmen to open merchant accounts and receive payment via credit cards. This mainly happens because the prerequisite of opening a merchant account is generally a lengthy and a rigorous procedure and individuals with a poor credit card history may not have an access to it, but then, they can in this case afford to get a PayPal account.
The best thing about the PayPal system is that it very easily links with the customer’s debit card, credit card or a bank account. This simply means that whenever an individual makes a purchase, the appropriate amount directly gets transferred from his credit card/ bank account to his/her PayPal account.
Who would still want to make long queues at the counter of a bank for paying the bills, when all of it can happen with the click of a button?