Before getting started, you have to know that what is PayPal, So PayPal is an online money transfer App, Every day, all around the world, PayPal connects hundreds of millions of people spending, sending, and receiving billions of dollars. To get started with PayPal, link your favorite debit cards, credit cards, and bank accounts to your PayPal account. Once they're securely linked, you won't need to enter them or your shipping info again. Now you're ready to use PayPal to pay online and in stores or to send money to a friend. You can send money to someone using their email or mobile number. Whether they're right next to you or halfway across the world, the money goes directly to their PayPal account in seconds. When you're shopping online, look for the PayPal button at checkout. Use your PayPal password and skip entering your bank, card, and shipping info. And with One Touch, you've got another option to check out even faster. Most importantly, your eligible purchases are protected by PayPal purchase protection. If you have a business, you can start accepting cards and other payments through PayPal, even from customers who don't have a PayPal account. We also give you access to capital to grow your business with PayPal Working Capital. And you can provide and accept donations for charities too. No matter what you do or where you live, money's part of your life. Helping people find better ways to pay, get paid, and manage money is at the heart of everything we do. Let's make money work for you.
How Paypal Works?
PayPal is a vast platform, everyone uses it, but not if it would no have out, but not everyone knows how it works, so today we're gonna go through the A to Z steps on how PayPal actually works and functions for your business. Stay tuned. So PayPal has been around for a long time, and if you're not using it for small business, I highly recommend that you do; it's a secure platform to send and receive money, but a lot of people don exactly know how PayPal works. You know, PayPal was a forerunner to what we now currently know as cryptocurrency, it's not a cryptocurrency, don't get confused, don't get me wrong but it functions similarly so let me just walk you through the basics of how exactly PayPal works. Most of PayPal operates in USD, meaning US dollars, but it doesn't have to. There's a lot of currencies out there in the world that can work through PayPal and PayPal will take all of them, okay, and what will happen is that you have a bank account whether that's checking account, whether it's a savings account, even a credit or a debit card. Someplace where you're keeping your whatever form of currency that you hold, okay. What happens then is PayPal will act as a digital wallet and when you need to send money to someone, what will happen is that money will come either from the debit account, that credit account, that savings account, that credit union account, basically any bank account or entity that has money will take that money and give it to PayPal. Now you can do that, or on your own, you can make your own money and put it in your PayPal wallet, or you can pay a bill from someone, and that money will go from your account to the PayPal wallet. Once it's in that, the PayPal wallet, it can do one of two things. It can be paid out to someone directly into their PayPal wallet, or you can just keep it in your PayPal wallet and what happens is that PayPal money, it's still USD, or whatever currency you brought into it will go from one PayPal Wallet to another. Once it goes into the other person's PayPal wallet, then they can take that money and through a transaction time of between three and five business days, that money can be put into their bank or their credit card or whatever it is that they.. their debit card or credit union and whatever it is that they do so what happens with PayPal is if you are talking bank to PayPal for it to bank. It's a savings or a checking account, there isn't any fee associated with that. Now, if you do have a merchant account or a credit card that using, there are what is called merchant fees, and anytime you have a credit card transaction, merchant fees are part of that. You typically don have to pay for merchant fees as a customer. Still, as a service provider or a product provider, you're definitely paying merchant fees, and it can range up to three, four, five percent depending on the credit card that you're using.
Visa is usually the cheapest, Discover card, American Express can get up there as far as merchant fee goes so what happens when you use a credit card on PayPal, where do those fees get taken out? Let's say that you are a vendor on PayPal, you've created an invoice and you've sent it off to your client, that client gets that invoice. They're going to pay it with a credit card, so they open up their email, they say the invoice from you if they say high, I'm looking forward to fulfilling this invoice, they reply to that email or click on the link in the email and decide to pay with a credit card. Now they don't have to have a PayPal account to do that, but they can, either way will work. If they have a PayPal account, they can just pay with the money in their PayPal wallet or use the backup of the credit card as the funding source. Now let's say the invoice was for $50, you send that over, and they're gonna pay with a credit card. When they pay that invoice with the credit card, they are going to pay $50, so their credit card will have a $50 charge on it. However, you will only receive about $47 $48 because of the merchant fees so when that invoice goes to them, and they pay it before that money comes to you, there's this third party called a merchant account that going to take out a certain percentage so when you get that money into your PayPal account, yes, they'll have to pay the invoice in full but you will have a transaction fee removed from that from the merchant, okay. So let's break it down into simple terms.. you've got a bank credit debit credit union, whatever you have you have, PayPal Wallet where all those transactions are taking place on another site, you've got another person's bank account when you bring that money in, it goes into your PayPal wallet, you can sit there as long as it wants or you can transfer it out directly to your account. When that money is sitting there in that PayPal account, it needs to go somewhere if you'repaying for some so it's either going to go to someone else's wallet directly from your wallet or it's going to go from you to their portfolio to their bank account, they can choose where that money goes.
Alright, so it's from bank account to PayPal wallet, from PayPal wallet to the other PayPal wallet and then from PayPal wallet to their bank account, and the same works in reverse, it's basically a digital coin system. Again, very much like cryptocurrency is operating right now but PayPal is the middleman, cryptocurrency, for example, doesn't have a middleman, it's directly from person to person, but PayPal will secure all of their transactions with encryption and make sure that the buyer and the seller are both taken care of. Hey, thanks for tuning in today, I hope that video is helpful for you. What questions do you have at PayPal? Post them in the comments below, I'd love to hear them. Hit the subscribe button, give a bell a ring. I'll see you tomorrow.
How You Can Link A Virtual Card to PayPal Account?
Note: This trick is only for educational purpose, please do not abuse this
First, you have to make an email on outlook.
Go to Live.com
Click on Signup
Add your Details
-Your Account Created
You have to use these all steps in Private Mode of Opera Browser
Then Connect VPN to America
Then You Have to Go on Paypal Account
Click on Create Account
add your email (created on outlook)
Enter your details
Use Real Address, you can use www.zillow.com/ca to find an address
You Can Use 2NDLine App for number verification
Add Credit Card
you have to generate cards at any card generator I prefer you to use namso-gen.com
Go to namso-gen.com and generate cards Bin is Givin here