PayPal is a company owned by eBay, the world’s largest online shopping site, used to make and receive payments online. It can also be used to send money to family members, friends, buying and selling on eBay and other merchant sites worldwide. Founded in 1998, it currently is the preferred mode of payment all over the world and is very secured allowing its members details to be secured against financial loss. It allows its member’s link their accounts to their credit card and bank account without exposing any personal financial information.
Below are the steps in opening a PayPal account:
- Go to www.paypal.com and click on the sign up button on the home page.
- Select the country of residence and language.
- Select the desired account type. There are three types: Individual, Premier and Business Accounts. A new member has to decide carefully which account would be the option at the time of signing up. It should also be noted that the Individual account type could be upgraded to Premier or Business account in the future.
- Put the contact information such as current e-mail address being used and then select a password which should be eight characters long and ensure not to forget it.
- Answer the “Security Challenge” if asked.
- Paypal will send an e-mail to activate the account, and when this is done, it is ready for use.
The following items will be required for the Paypal account: Full name, Social Security number, Driver’s License, Credit card and Bank account.
In conclusion, it is of great benefit to be a Paypal Account owner in order to make purchases from merchant sites on the internet and security of financial details is guaranteed since such details are never exposed.