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eBay has millions of items for sale, but the only way to pay is with a payment system called Paypal. This payment system allows buyers to send money to sellers virtually, without involving personal check numbers, debit cards or credit card numbers. Paypal is secure, widely accepted and without problems when paying for online items.

Exactly what is PayPal?

"PayPal is a service that allows you to pay, send money and accept payments Register your credit or debit card with your PayPal account You can pay simply by choosing PayPal when you pay, by logging into your PayPal account and confirming your payment. The process for you Simply choose PayPal when you select a payment option on this site, you can quickly open a PayPal account and add your payment method to complete your purchase You can use your PayPal account to buy with millions of merchants and sellers from around the world wherever you see the PayPal logo. "

As a member of PayPal, you can:

  • Transfer money from your bank account to your PayPal account
  • Obtain a cash advance from your credit card and deposit the amount in your PayPal account
  • Transfer money from your own PayPal account to another member's PayPal account
  • Transfer money from your PayPal account to your checking or savings account
  • Have a check sent for the balance of your PayPal account.
  • Get a PayPal debit card that you can use to make real-world purchases from your PayPal account

How does Paypal work with eBay transactions?

© The Balance 2018

When a buyer wins an auction, accepts the best offer or buys an item in Buy it Now at full price, the seller will send an invoice to the buyer. The process looks like this:

  1. The buyer wins an auction or makes a purchase. A bidder makes a purchase from a seller who accepts PayPal as a payment method.
  2. The winning bidder pays through PayPal. From the My eBay page or in the item listing, the winning bidder, who is a member of PayPal, clicks the "Pay Now" icon next to the completed list.
  3. Money moves automatically. When using PayPal, the winning buyer automatically activates a transfer of funds from their preferred payment method (either credit card or bank account) to their PayPal account. These funds are immediately transferred to the seller's PayPal account. Or, as a Paypal member, you can leave a balance in your account to cover future purchases.

  1. The seller receives funds. With funds now in your account, the seller is now free to transfer them to your bank account (s), receive a PayPal check, spend the money in the "real" world using a debit card PayPal, or Use the PayPal balance to make other purchases online.

Benefits of using Paypal

PayPal is a quick and easy way to buy things online. Paypal is the preferred payment method on many shopping websites, in addition to eBay. Paypal offers these seven benefits:

  1. Flexibility for sellers With a PayPal membership, even sellers of very small volumes can quickly and easily accept payments that originate from buyers' credit or debit cards.
  2. Speed. PayPal transfers between sellers are snapshots, and transfers from PayPal accounts to bank accounts can take only 24 hours.
  3. Affordability The fee for using Paypal is 30 cents per transaction, plus 3% of the total amount of the transaction.
  4. Secure purchase Because PayPal offers guarantees for the buyer and a specific process to dispute the transactions, users can always turn to either a buyer who did not receive what they ordered or a seller who may be worried that it will be suspended with payment.

  1. Account privacy Paypal is safe. For buyers, this means a level of account protection that is not offered by physical stores, where retailers often have the buyers' account information after purchases.
  2. Ease of keeping records. Paypal's history goes back to the day the account was opened. Users also have the ability to obtain reports and users receive a 1099 if they have more than 200 transactions and $ 20,000 in sales.
  3. Acceptance online. PAypal is now a common method of payment on many shopping websites, as well as websites that accept payments for any other reason.

We live in an electronic global economy

At this time, it is common to buy items online, possibly from a seller in another country. We live in a global economy in which we are really at a computer screen remote from each other. Paypal is a safe, reliable and efficient way to buy products or services online from anyone.