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What is PayPal, the Worldwide Digital Payment Solution

Transact online around the world easily by using PayPal.

One of the conveniences due to advances in technology is the convenience of shopping from home online. Undeniably, shopping online is a lifestyle that is popular with today's society. People don't have to travel abroad to buy the things they want thanks to the internet and variety marketplace platform.

One of the things that drives this trend is the ease of transactions online. PayPal is an alternative digital payment that can be used for transactions online. With PayPal, you can make transactions easily and quickly, even abroad.

So, what is PayPal and what are the advantages of using it? Check out the explanation in this article.

What is PayPal?

Basically, PayPal is a virtual financial service that provides transfer and payment services online online all over the world. Apart from making payments courses PayPal can also be used to receive money online.

PayPal was founded in 1998, where previously it was a subsidiary of the eBay company. Currently, PayPal is one of the most popular digital payment instruments in the world, with more than 400 million active users.

One of the reasons why PayPal is widely used is because it has an extensive network and can be used across countries. In addition, the PayPal account also has a fairly good level of security and is easy to use because it is connected to the user's credit card or checking account.

Advantages of Using PayPal

As previously explained, PayPal has several advantages that make it one of the most popular digital payment services in the world. So, here are some of the advantages of using PayPal that have been reported from Glints.com.

1. Hurry up

One of the advantages of PayPal is that the process is fast and easy. In the past, to send money, it was necessary to use checks and postal orders, which took a long time to process. However, thanks to PayPal, transferring money from a PayPal account or to another bank account only takes approximately 24 hours.

2. Reaching Nearly the Whole World

PayPal has an extensive network, making it possible to transfer money between countries. Besides that, a lot marketplace and foreign companies that started using PayPal as one of their payment methods.

3. Flexibility for Sellers

PayPal is very useful for sellers, especially sellers who sell their products online online. With PayPal, sellers can market their products more broadly overseas. In addition, PayPal also makes it easy for sellers to transact with buyers.

4. Guaranteed Security

PayPal has strict rules in maintaining the privacy of its users. Therefore, transactions using PayPal can be ensured to be safe as long as they do not violate the rules that have been set. In addition, if users have problems with transactions, they can report them to PayPal.

5. Affordable Administrative Fees

Even though PayPal also charges administration fees, the fees charged are quite cheap and affordable. Administrative fees using PayPal are 30 cents US dollars per transaction, plus 3 percent of the total transaction.

6. Easily View Transaction History

PayPal also has a feature that makes it easier for users to check transaction history, for a week to a month before.

Disadvantages of PayPal

Even though it has various advantages that are its main attraction, you also need to pay attention to some of the disadvantages that PayPal has. Here's a complete explanation.

1. Vulnerable to Abuse

PayPal does make it easy for its users to transact to various countries. However, this openness makes it vulnerable to fraud or other criminal acts.

2. It's Difficult to Complain

Although PayPal is ready to facilitate if problems are found during transactions, unfortunately, PayPal Indonesia does not yet have a complaint service. The number listed on the PayPal site is the PayPal office number in Singapore.

3. Not Serving Transactions with Multiple Currencies

The main advantage of PayPal is that it can serve transactions throughout the world. However, it turns out that PayPal has not served transactions with several important currencies, such as the Indian Rupee.

4. Long Lasting Freezing Process

Account freezing is carried out by PayPal if indications of abuse are found. The freezing sometimes lasts a long time, even up to months.

That's a complete explanation about PayPal, from understanding to its advantages and disadvantages. Even though it has several drawbacks, this does not make PayPal's position as a payment method online most popular in the world to be replaced.

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