What is PayPal & PayPal Review

PayPal was founded by Peter Thiel and Max Levchin in December 1998 and is an online payment service provider headquartered in San Jose, California, USA.

About PayPal

PayPal currently has 250 million active users and is available in more than 200 markets around the world, allowing consumers and merchants to pay or receive payments in more than 100 currencies, withdraw cash in 56 currencies, and store balances in PayPal accounts in 25 currencies.

PayPal provides merchants with various types of payment services, including e-commerce platform payment, website payment, and non-website merchant payment. It also provides different solutions for B2B and B2C sellers.

Advantages

·7 days a week Chinese customer service to help you solve transaction problems;

· Qualified transactions automatically enjoy the seller's protection rights;

Accept payments via email or create and send custom invoices;

Accept payments from more than 200 countries and regions in 25 currencies;

Accept credit card payments and transactions comply with the Payment Card Industry Data Security Standard;

Trusted by over 200 million customers worldwide.

Supported platforms

B2C platform payment support: eBay, Etsy, Aliexpress, Bonanza, Dawanda, Storenvy, etc.

·B2B platform payment support : HKTDC.com.

Payment support for service outsourcing platforms : freelancer.com, 99designs, Upwork, Fiverr, etc.

cost

PayPal's payment rates vary depending on sales. If your monthly sales reach $3,000 or more and you maintain a good account record, you can apply for preferential merchant rates. You only need to apply once, and the applicable rate will be automatically adjusted monthly based on your payment amount and will take effect the following month.

· Payment rates for website, invoice or email are as follows:

eBay payment rates are as follows:

*Flat Fee: $0.30 when you receive money in USD. Click here to view the flat fees for other currencies.

Safety and security

1. Account protection

Link your credit or debit card details to your PayPal account just once. We protect your login and financial information so you don't share your card details when you make purchases.

2. Handle chargebacks

We provide the expertise and tools to help you through the chargeback process, whether the chargeback is about an unauthorized transaction or an item not received by the buyer.

3. 24/7 service

We monitor every account and every transaction 24/7 to prevent fraud, email phishing and identity theft. If anything suspicious occurs, our dedicated team of 2,000 fraud prevention experts will be your strong backup.

4. Industry-leading security

We have invested millions of dollars in building and developing our best-in-class behavioral risk management system to prevent external threats and create a safe and secure trading environment for users.

FAQ

Q: Can I have multiple PayPal accounts?

A: Yes. You can have a personal account and a merchant account at the same time, but each account must have its own email address, and the two accounts cannot share the same credit card or the same bank account.

If you are a seller with an individual account, you can upgrade it to a merchant account to sell online under your company name in order to keep the same email address and financial information.

Q: How do I withdraw money from my PayPal account? How long does it take?

A: You can withdraw your PayPal account balance to your bank account in China, Hong Kong or the United States. You can also apply for a check from PayPal.

Here's how to withdraw money from your PayPal account:

Go to your account homepage.

Click Withdraw under Your PayPal Balance.

Select a withdrawal method and follow the instructions to complete your withdrawal.

The processing time for each withdrawal type may vary. Please see below for details:

*Note: Different branches of the same bank may have different policies, and these policies are subject to change. Therefore, we recommend that you consult your bank before each withdrawal.

Q: How do I issue a refund from my PayPal account?

A: You can issue a full or partial refund within 180 days of receiving payment. The total refund amount will be deducted from your PayPal balance. If there are insufficient funds in your PayPal balance, you will not be able to issue a refund.

The methods for refunding payment are as follows:

1. Go to transaction history;

2. Click on the payment you want to refund.

3. Click to refund this payment;

4. Enter the refund amount and click Continue;

5. Confirm the refund details and click Issue Refund.

For more frequently asked questions, please visit the official website help center .

Development History

-In 1998, Max Levchin and Peter Thiel founded Confinity.

-In 1999, PayPal was officially launched.

-In 2000, Confinity merged with X.com, founded by Elon Musk.

-In 2001, X.com was renamed PayPal.

-In 2002, PayPal was first listed on NASDAQ and was subsequently acquired by eBay.

-In 2003, PayPal officially launched its merchant services business.

-In 2006, PayPal entered the mobile payment field through SMS payment.

-In 2007, PayPal obtained a banking license in Luxembourg and established its international business headquarters in Singapore.

-In 2008, eBay acquired Bill Me Later.

-2009, PayPal X was released.

-In 2010, PayPal released a payment solution for digital goods and launched the PayPal app for the Android platform.

-In 2011, PayPal acquired Zong.

-In 2012, PayPal launched its in-store payment product PayPal Here.

-In 2014, PayPal launched the One Touch payment feature and the Bill Me Later brand was renamed PayPal Credit.

-In 2015, PayPal acquired Xoom, CyActive, Modest and mobile payment company Paydiant. On April 10, 2015, PayPal was spun off from eBay and independently listed on the Nasdaq in the United States.

-In 2016, PayPal launched Venmo payments.

-In April 2017, Android Pay cooperated with PayPal, and PayPal will become the mobile payment platform available to Android Pay users.

-On June 6, 2017, the "BrandZ Top 100 Most Valuable Global Brands 2017" was announced, and PayPal ranked 52nd.

-In July 2017, PayPal announced a strategic partnership with Baidu.

-In September 2017, PayPal reached a cooperation with Alibaba AliExpress.

-In March 2018, Paypal applied for a new patent. This patent can improve the user payment experience and better compete with credit cards as a payment method.

-In May 2018, the company spent $2.2 billion to acquire iZettle, and two days later spent $400 million to acquire HyperWallet.

-In June 2018, PayPal spent $120 million to acquire fraud prevention startup Simility.

-On June 26, 2018, PayPal and Octopus announced a partnership to launch value-added services.

-On August 10, 2018, PayPal announced that it would help small and medium-sized cross-border e-commerce companies to expand overseas by providing customized payment links, supporting one-click payment on PCs and mobile devices, and providing anti-fraud technology and seller protection. However, PayPal submitted an application for a payment license to China's regulatory authorities four years ago, but it has not yet been approved and "has been in communication."

-In December 2018, the World Brand Lab released the "2018 World's Top 500 Brands" list, with PayPal ranking 402nd.