PayPal is the safer, easierway to send money overseas, make payment online without revealing your creditcard number.PayPal is an e-commercebusiness allowing payment and money transfer transactions to be made throughthe internet. This serves as the bestalternative to a traditional method of sending money overseas.
PayPal performs paymentprocessing for online vendors, auction sites, and other commercial users forwhich it charges a fee. It may also charge a fee for receiving money. Feesdepend upon the currency being used, the country of the sender, the recipient andthe type of the account used.
PayPal operates in 190markets, and manages more than 232 million accounts and more than 87 million ofthem active. PayPal allows sending, receiving, and holding funds in 24currencies worldwide including The Philippines (Philippines
PayPal is now widely used inall e-commerce transaction, though this is not classified as a bank in the United States USA
Signing up PayPal is no riskat all; it offers a security protection against fraud. A user account ties to asecurity key. The account holder enterstheir login ID and password but then you are prompted to press the button forthe six digit security key.
PayPal mobile transaction isalso possible. Through the use of MTAN (Mobile Transaction AuthenticationNumber) via SMS but then there are possible security threats to older mobilehandsets.
What is best for PayPal isthat account holder's private information is marginally protected under onefederal law. Since PayPal is a financialinstitution under the Gramm-Leach- Bliley Act (GLB), it cannot disclose itsaccount holders' non- public personal information unless the account holdersopt in to those disclosures.
* Log in
* Reset their password
* Develop a set of securityquestions (based on the subjective and not the fact)
* Verify location by phone orby mail
Disclaimer:
Information on this article taken from Wikipedia®The Free Encyclopaedia
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