The truth about PayPal

PayPal was founded in 1998 by Peter Thiel (Peter Thiel) and max Leucinol (Max Levchin). It is a private company located in Palo Alto, California. PayPal provides its users with the ability to accept and send payments via email or mobile phone with Internet access. In order to become a system user, you must: fill out the registration form and access a personal account in the system. There are several types of accounts:

  • Personal account
  • Personal Premier account
  • The business account.

Each has its own specific characteristics. To Fund your account with a credit card or Bank transfer to the Bank account. Work with the system PayPal offers its users the following services:

send payment (Send Money). The PayPal user cant to transfer an amount from the personal account in the payment system. In this case, the payee may act as another PayPal user or a third party. For payment the user must complete the transfer form which includes the following fields: the address field of the email recipient field to specify the payment amount field to specify the recipient’s last name. When the user is ready to make payment, he clicks on the icon “Send Money”, and an email is sent to the recipient that the link in the email goes to the web site of the payment system where finalize the payment.

• request to receive payment (Money Request).

Using this service, user can send their debtors letter containing a request for payment. To submit your letter as a separate person, and group debtors. To do this, the user must enter in the field of the special form e-mail address of the message recipient and the amount. Further, as in the case of transfer of the payment, the payer receives an email with a link to the web site of the payment system. With PayPal, the payer prepares a money transfer, after which the required amount goes to the account of the user of the payment system.

• placement on the Web site user special tools to accept payments (Web Tools).

This service is available for holders of Premier accounts and Business accounts and recommended for use by owners of online shops. The user can place on your website or on a personal web page button by pressing which the payer enters the payment system site. There he performs the procedure of payment (it is possible to use credit cards), and then returns to the site Paulisolates. The Commission for reception of payments is 1.9% of the payment amount.

• tools for the auction trading (Auction Tools) .

The payment system offers two types of services. First, the automatic sending of requests for payment (Automatic Payment Request). Secondly,the winners of the auction can make payment directly from a Web site, which is the auction (Instant Purchase for Auctions). The security of the system is Stored and transferred in the transaction data is protected by SSL (Secure Sockets Layer) with a key length of 128-bit and above. The user’s account in the payment system is insured for 100 thousand dollars. by SafeWeb Insurance against unauthorised money withdrawal. Account access is password protected Important All this is well and good, except for one “but”: unfortunately, all of the company’s services are only available for residenow United States and residents of the approximately 35 countries. None of the CIS States in this list, as You know, no. The company on its website repeatedly repeats that in the near future the PayPal services will be extended to the rest of the country. They promise that for a long time, but the results so far no. In fact, the reservation is available only for residents of most of these 35 countries and the United States is expressed in the following way: In the process of registering with PayPal You can’t type the Russian address. In order to pass the authorization process your Bank account, You’ll need to specify an account in a US Bank. To accept payment You will be able only from buyers who have Bank account in US or credit card issued by us Bank. Accordingly payment is also only if You have a Bank account in US or credit card US Bank. In the terms of use stipulates thatlovatelli system are responsible for all taxes and proper identification of its tax number (in the USA). Thus, it is possible to offer two options for using PayPal for residents of the CIS: PayPal is very attractive for those who already have a company in USA and a checking account in a US Bank. The second option is to wait and hope that the possibility of PayPal in the near future will be available in the CIS

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