Concept in Definition ABC

PayPal is a company that provides a virtual service. The Username This service is registered in an account in which virtual money is stored, which corresponds to real money. Thus, PayPal becomes a service equivalent to that of a Bank. Through this system it is possible to make online purchases of articles and services on different platforms (for example, e-Bay), sell something or transfer money to an entity financialconventional. It is a safe and easy way to pay and receive money without the transaction information being shared by a financial institution.

Advantages of PayPal

First of all, it offers an information encryption system that guarantees the safety operations, an essential issue if we take into account that network security is an issue that worries users, especially when it comes to money.

It is an easy system, since it does not involve complex procedures to create your own account. On the other hand, PayPal is free and has no maintenance or cancellation, however significant “fees” are applied between the operations carried out. Regarding the flow of money, the mechanics are as follows:

1) register a PayPal account,

2) link it to a card debit/ credit or to your own bank account and 3) carry out operations (buy, sell or transfer money from PayPal to your own bank).

PayPal is used by both individuals and companies, as it is an international and increasingly widespread service. If we talk about individuals, they have the advantage of being able to buy a Article without providing information to the seller about your bank account or your debit or credit card. And if we talk about a company that receives payments by PayPal, it is providing an additional service to its customers.

Everything has some but. Conditions not very visible

PayPal is a company and in the hypothetical case of bankruptcy, the people who have their money there would lose it. Keep in mind that we are not talking about a bank and, therefore, the same legal controls do not exist.

The conditions imposed by PayPal are considered excessive, since it charges high commissions when money is received. On the other hand, there have been cases of users who have associated themselves against PayPal considering that their rights as consumers have been violated.

This platform of Commerce has received criticism because it is demanding in relation to security measures and verification of data (for example, the user has to send a copy of the DNI so that their data can be verified). In this sense, it is possible to find two opposite versions, since for some the level of demand is high and for others it is a necessary security measure.

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