What is Pay Pal ?- Part-001

 

 by krishnas

Introduction

In this article I will be explaining about the one of the popular
online payment website PayPal. If you have not hear about
the service, please read this article. If you are already familiar
with the product, this article will not be useful for you.

It is good to learn about the various online payment options
available to save your time. In this blog,
I am regularly writing about the wide range of products.
In this post, I would like to explain about the paypal.
If you have any doubts, please post it in the comments section. 

What is PayPal?

PayPal  is online payment gateway for making the payment
to any of your friends or purchasing the goods.
Then you may be asking how this differs from the banks?.

The simple answer is, PayPal serves as the mediator
for transferring the funds across the world. It allows you
to maintain the account and check your balance
( It is like virtual online bank account) .
You can send money and withdraw money at any time.

The main advantage in this service is, it makes very
simple to send money to anywhere in the world.
You just need to have a paypal account.

Anyone can create the paypal account with out bank accounts
and credit cards. You need credit cards or bank account only
you want to withdraw money to your account.

This product is offered by eBay company.
They are the leading online shopping portal across the world.

Summary

I hope this article provided very basic idea on
what is Paypal service.

Tomorrow I will write about how you can create
the account with paypal and what is the process
to withdraw money to your bank account. 

 There are many other salient features in the paypal,
I will write it in the next posts.
Thank you for reading this article!!.

This article is published only for academic interest

and to know What is Pay Pal?

please visit our article:

http://bankfinanceindia.blogspot.com/2010/02/rbi-halts-ops-of-remittance-portal-pay.html