FacebookXLinkedInEmail

PayPal is a payment processor and has been around for a long time. Signing up is free and easy, which is one reason to add this service to this blog. A payment processor makes money by adding a small fee every time you buy something through this service. However, many other services do the same, so why PayPal?

PayPal is Everywhere

As mentioned before, other payment processors offer the same or similar services. But PayPal is by far the most popular option. You won’t find many payment processors that are available in more than 200 countries. And you can use this service to send and receive payments securely worldwide and transact business in multiple currencies (25 at the time of writing).

Secure Online Shopping

There are many reasons for me to use PayPal. Almost all websites through which I pay for services or products accept this payment processor. This includes Amazon (using PayPal Key, see the note below), where I buy many things, including computer hardware, books, and my favorite German beers :-). My domain names and my hosting provider are paid the same way. Note: Amazon does not directly accept PayPal payments, but you can use PayPal Key, which is a virtual card that can be used at any online merchant that accepts Mastercard.

Several factors make the payment safe. But before I proceed, let me be honest and tell you that nothing can be 100% safe. However, PayPal is the most secure way I can think of. Here are my reasons:

  • All your data is stored on encrypted servers
  • Transfers are made through TLS and HTTPS connections, key pinning on mobile apps, and PCI compliance to keep payments safer
  • Every transaction is monitored in real-time, and accounts are analyzed to help prevent fraudulent activity and payments
  • In case something out of the ordinary happens, you are asked to confirm your identity
  • Every purchase or sale will be followed up with an email
  • If you use your credit card to purchase items through PayPal, the merchant will never see your credit card information
  • You get your money back if an eligible item that you’ve bought online doesn’t arrive or doesn’t match the seller’s description
  • and more

I like especially the idea of only providing my credit card information to PayPal and then purchase items at many different merchants with that credit card. Those merchants will never see my credit card information. And that means that the number of places where my credit card information could get into the wrong hands is minimal.