HomeAPPSPayPal, What It Is, How It Works: Frequently Asked Questions

PayPal, What It Is, How It Works: Frequently Asked Questions

Questions and answers on the functioning of PayPal with an examination of the main features made available by the well-known online service for sending and receiving money. Opening a PayPal account is simple and safe. For private users, the advantage is that they can make purchases, receive money or return money to friends and acquaintances without ever sharing their financial data.

 For companies, especially those with an ecommerce, the advantage is receiving money through a payment system that is now known and used globally. PayPal is an intermediary between the user and other users or between the user, credit card networks, and financial institutions. Yes, because a user who buys a good or service can use PayPal as an intermediary and have the transaction subsequently charged to the linked credit card without ever sharing their credit card number with third parties.

Do I Need A Bank Account Or Credit Card To Use PayPal?

To pay on the web with PayPal, as mentioned, click on the PayPal logo and follow the instructions making sure you are on paypal.com. If the user who has to pay does not have a PayPal account, he can still pay with PayPal by entering his credit card details. In this case, PayPal will process the transaction, but not the credit card data will not be shared with the seller of the goods or service.

If, on the other hand, you have a PayPal account, the online payment page (always from the paypal.com domain ) will ask if you want to pay with your PayPal balance (if available) or if you want to charge the transaction to the linked credit card. The PayPal account can be used to receive payments from other subjects conveniently.

Connecting current accounts or credit cards is unnecessary to receive payments, provided that at most 2,500 euros are received in the account within a year of the first transaction. Otherwise, linking a checking account or credit card will be mandatory to remove all limits on the account. For small money transfers (read refunds to friends, activation of online subscriptions, small purchases,…), it is not necessary to connect either accounts or cards.

How Do You Send Or Receive Money With PayPal?

PayPal, both from the web and the application for mobile devices allows you to send or receive money: select Send and then enter the email address or mobile phone number of the person to whom you wish to transfer funds to start the operation. The money transfer will be instantaneous; the recipient will find them in his PayPal account after a few seconds.

If the specified recipient still needs a PayPal account, he will be invited to create one. Otherwise, the transaction will expire, and the transfer will fail. Sending money is free and commission-free if the transfer is made to friends, family, and acquaintances residing within the borders of the European Union. You can invite other users to transfer money by tapping the Request icon. Alternatively, you can generate a PayPal.me URL. By clicking on it, the other party can send the money.

PayPal. My domain name is followed by a unique name chosen by the PayPal account holder. This name cannot be changed over time, so it must be chosen wisely. By adding the amount and currency to the address (for example /100EUR ), the PayPal payment page will show the amount requested by the other party. In the case of decimals, you can use either the comma or the period.

How Do You Create A QR Code To Pay Or Receive Money?

By downloading the latest version of the PayPal app for Android and iOS mobile devices, you can tap the Scan/Pay button at the bottom left to point your camera at a merchant’s QR code and pay instantly. By touching More at the bottom right, then Get Paid with QR codes, PayPal will generate a code in a graphic format that can be displayed where it is best believed to receive money.

Does PayPal Manage Multiple Currencies At The Same Time?

PayPal accepts the management of multiple currencies: so in your account, it is possible, for example, to have part of the funds in euros and the other part in dollars or other currencies. You can separate money in multiple currencies or convert it at the exchange rate. To proceed in this sense, click on the PayPal balance, then on the three dots in the column corresponding to the currency you wish to operate, and choose to Convert currency. You can also decide which currency to use as default for payments.

Can Funds Be Transferred To And From Current Accounts And Credit Cards?

The PayPal account can be topped up from a linked bank account in the name of the same subject by selecting the item Transfer money and then choosing Top up your balance. The virtual IBAN code that PayPal will generate will be used to transfer from the current account. Compared to what happened in the past, when PayPal allowed you to transfer money into your account for free, today, the service requires a commission as a percentage of the amount to move funds from your account to your current accounts and credit cards.

Can PayPal Be Connected With Google Pay?

PayPal can be a payment instrument connected to the Google Play service. To add it, go to the Google Pay payment methods page, click Add payment method, and select PayPal. In this case, the advantage is that it becomes possible to pay online with Google Pay with the debit that will take place on the PayPal account or in cascade on the connected credit card/current account if there is no remaining balance. Google Pay does not transmit the buyer’s data to the merchant or information on its geographical location (while PayPal and credit card circuits do).

Is Paying With PayPal And NFC Chips In Physical Stores Possible?

In other countries, it has been possible for some time ( this is the page where Google describes the service ), but it has yet to be in Italy. Even by linking a PayPal account to Google Pay, it is impossible to use this payment method when you are in front of an NFC-compatible physical POS: NFC, what it is, how it works, and what it is for. Payments with Google Pay and NFC chips can only be managed with the various connected credit cards, but it has yet to be possible to choose PayPal as a debit tool. The only exception is currently represented by Vodafone Wallet, as explained on this support page.

How To Create Collections And Divide Expenses With PayPal?

PayPal integrates two very useful functions: the first is called Split the Account. It is possible to indicate an amount to be divided among several people and invite them to pay what is required to comply. The second was called Money Box and allowed you to create a collection among colleagues, friends, and acquaintances to reach the set cash threshold: we talked about it in November 2017 ( Money Box, PayPal presents a secure virtual box for collecting funds and sharing expenses ).

Is It Possible To Dispute A Purchase On PayPal?

In transactions between an online retailer and a consumer, PayPal takes on the role of intermediary and guarantor. The PayPal protection program intervenes when one of the parties fails to comply with the agreements. PayPal explains that if the purchased goods do not arrive or do not correspond to the description, the payment system can refund the price paid. However, this can only happen in some cases: if the retailer demonstrates, for example, that he has delivered the goods or that he has acted in good faith, PayPal will not return the money. Some products and services, as are purchases made in “offline” mode, are also excluded.

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