PayPal

October 27,2017 in Glossary | No Comments

Definition:

PayPal refers to an online remittance service that permits customers to purchase commodities and accept payments through a user-defined email address.

Information:

PayPal assists as a de facto middle agent in online monetary transactions. It strives to quicken financial transactions and enhance safety simultaneously by allowing customers to purchase commodities without entering their credit card data every time.

Individuals use an email address linked with Paypal instead of their usual email address. It apprehends as a top-ranked option for shopping on eBay, rendering scam security services with added features.

Nevertheless, Paypal does not categorize as a bank account. It works as a de facto escrow account, which permits the customer to deposit and withdraw funds from a debit or a credit card.

Furthermore, Paypal assists as a monetary firewall for a real bank account.

Official Sites:

PayPal.com

Articles:

PayPal vs. Merchant Account: What’s the Difference? Webmaster World (September 8, 2010)

More Helpful Articles:

Check out other Glossary Articles on Online Advertising Glossary and Digital Marketing Glossary

 

 

  •  
  •  
  •  
  •  
  •  
  •  
  •  

Was this article helpful?

Support us to keep up the good work and to provide you even better content. Your donations will be used to help students get access to quality content for free and pay our contributors’ salaries, who work hard to create this website content! Thank you for all your support!

Reaction to comment: Cancel reply

What do you think about this article?

Your email address will not be published. Required fields are marked.