Much has been said about the explosion of the e-commerce due to the arrival of Covid-19. For this to become a reality, it was essential to have a reliable payment system for both customers and merchants. One of the most popular options is PayPal.
According to their own website, PayPal It has more than 360 million active users around the world and accepts 100 currencies. The company was founded in 1998, in the United States; in 2000 it merged with Elon Musk’s online banking company: X.com. Its headquarters are located in Silicon Valley, California and is listed on the New York Stock Exchange. Currently PayPal Is property of eBay.
Despite not being a bank, it is governed by the rules of the United States Department of the Treasury and, among other regulations, PayPal is obliged to prevent money laundering transactions.
What is Paypal?
It is a service of pay on line, also called a payment gateway or payment aggregator, which uses the internet. It works like a bridge, exemplifying it would be something like this: a person sends money to another or to a company without having their data such as card number or CLABE, just email that you use in PayPal. The payment arrives at the profile of the person who is collecting and the funds can be used from there or transferred to a bank account.
Among the advantages of using PayPal is it so:
- Receive credit and debit card payments through your Standard Payment solution
- Security against information theft or hacking
- Minor commissions for receiving transfers, especially international ones
- It is a consolidated brand that generates trust
- The account is opened through the internet without the need to go to a physical space
- Easy to install on a website
When you log in to PayPal With a unique email and password for each client, it is possible to review transactions, add bank cards to receive and make payments, request clarifications and more.
How to integrate PayPal to a website?
The easiest way is by configuring a button from the Paypal platform. A code is generated, which is copied and pasted into the website. Under this option, people who make a transaction on the site where it was installed will be removed from the page in question and taken to PayPal to pay. There’s no need learn about Web programming.
The other option that makes customers stay on the site where they are making the purchase is called PayPal Check out. In this case, it is required to know about how to program a website and its different functions.
other ways to integrate paypal on a website, it is whether it is made on the Wix platform or on WordPress adding Woocommerce as an e-commerce solution. In these two modes, it is possible to add the special PayPal function.
PayPal and cryptocurrencies
Starting in June 2022, PayPal will allow the transfer of crypto assets, including bitcoin, to external wallets, almost two years after it opened its platform to digital currencies. This option is only available to some users in the United States.
Other payment gateways other than PayPal
PayPal is not the only system of transactions over the internet. Other payment methods are:
- Payment Marketa solution belonging to Mercado Libre, which also offers a physical terminal for card payments.
- alipay, developed by the Chinese e-commerce site Alibaba. Accepts 18 coins and can be used from a smartwatch.
- GooglePaya system for payments from tablets or smartwatches, replaces the use of electronic signatures or magnetic stripes on bank cards.
- ApplePayis compatible with iPhone phones from version 6, it can also be used through iPad.
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