PayPal is the Top Dog of Online Payment Methods

Online security is a topic of conversation that never really gets put to bed. We are all concerned about our privacy online and rightly so, especially when it comes to our finances. The internet has provided us with an opportunity to take care of all our needs without having to leave the house. We can order groceries, buy clothes, book tickets, pay bills and play games.

But this level of convenience comes at a price, which is that we have to make financial transactions online and risk fraudsters getting hold of our credit card details and account numbers. One of the best ways to mitigate disaster is to use an e-wallet rather than a credit card, and one of the most trusted e-wallet companies is PayPal.

PayPal has been in business for over 20 years, providing millions of people with a tool to make safe and secure financial transactions online. The brains behind eBay realised early on that in order for an online marketplace to work there needed to be a secure middleman to sit between buyers and sellers, so eBay purchased PayPal in 2002.

PayPal takes care of both the business owner and the customer by protecting their account information and stepping in to settle disputes. PayPal is not exclusive to eBay, however; consumers and business owners from any sector can make use of their services. PayPal operates in over 200 markets worldwide and enables their clients to accept payments in 100 different currencies.

When to Use PayPal

A PayPal e-wallet can be used to make all kinds of transactions online. If you’re an online shopaholic, for example, selecting PayPal as the payment method to make purchases means that you don’t have to input your credit card details every time you wish to make a purchase. All you need to do is input the email address associated with your PayPal account and the password that you create for your account.

The same goes for paying bills and booking holiday accommodation. You can also use PayPal to safely send money to friends and relatives – a very handy tool if you need to send money abroad, for example. Online gamers can use PayPal to make deposits into their account or make in-app purchases. We’ve also seen a surge in the number of PayPal casinos recently too.

Online Casinos are Made Safe with PayPal

There was a time when many casinos did not offer PayPal as a payment method, but times are a changing. Early online casinos were not considered particularly safe or trustworthy, but with strict licencing and regulation the industry has been able to take its place as a legitimate sector in the business world. A new PayPal casino is seen as particularly trustworthy because PayPal only works with bonafide businesses. If you wish to make a deposit using PayPal, all you need to do is select PayPal from the casino’s payment options. The deposit will appear in your casino account instantly.

It's also possible to withdraw winnings into a PayPal account – the time limit for this transaction is usually quite a bit faster than when withdrawing to a credit card or bank account. PayPal is not available in every single online casino, so we suggest that you take the time to seek out the online casinos that have partnered with this company to ensure that your potential winnings are in safe hands. For more information on PayPal Casinos UK, this is a good place to start.

How to Get Started

It’s extremely easy to set up a PayPal account. All you need to do is head to the PayPal website and click ‘sign up’. You will be asked to provide an email address and you’ll need to create a new password for your new account. PayPal will then verify your email by sending you a verification email to the address you’ve provided. Once verified, you’ll be asked to attach a credit card, a debit card or a bank account number to work in tandem with your PayPal account. You can make purchases in two different ways.

One way is to top up your PayPal account with a limited amount of funds which you can then draw from every time you make a payment or you can use PayPal to withdraw a payment directly from your bank account – these payments or deposits are instantaneous. If money is paid into your PayPal account, you can withdraw it to your credit card or to your bank account – withdrawing to your credit card takes 1 to 2 business days and withdrawing to your bank account takes up to 24hrs. PayPal does charge fees for transactions, but you should keep in mind that you’re paying a minimum fee for maximum peace of mind.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes.