PayPal refers to an online remittance service that permits customers to purchase commodities and accept payments through a user-defined email address.
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.
PayPal vs. Merchant Account: What’s the Difference? Webmaster World (September 8, 2010)
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