Definition of PayPal:
PayPal offers payment services and solutions for both personal consumers and businesses. The company allows personal consumers to shop, make payments, and transfer money with relative ease. Users need an email address to sign up for an account and must provide a credit card, debit card, or bank account to complete the setup. PayPal verifies all the information to make sure the person setting up the account is the rightful owner before the service can be used.
PayPal is an electronic commerce company that facilitates payments between parties through online transfers. PayPal allows customers to establish an account on its platform, which is connected to a user's credit card or checking account. Once identification and proof of funds are confirmed, users can begin sending or receiving payments to and from other PayPal accounts online or through the company's app.
Online system, run by the aforementioned company, used to transfer funds between two users. To exchange funds, both users must have already established PayPal accounts. After funds have been exchanged, the user can have the funds transferred to a banking account or have the funds placed on a PayPal credit card if the user chooses not to leave the funds in the PayPal account.
Subsidiary of eBay that provides several online payment and money transfer options for consumers and other companies. The company was founded in 1998 and operates out of San Jose, California. PayPal acquired credit card processor VeriSign on November 18, 2005 to create a comprehensive online payment system for its users. PayPal allows users to exchange money across the world and currently accepts 18 different currencies.
How to use PayPal in a sentence?
- PayPal is an online payment platform that offers individuals and businesses low-cost services.
- PayPal is considered a very secure method of sending payments online.
- PayPal has been its own company since 2015.
- In addition to online payments, PayPal also offers a variety of related services including debit cards for payments, credit card readers for small merchants, and lines of credit.
Meaning of PayPal & PayPal Definition