PayPal is an electronic payment method, known worldwide. It is present in a large number of online shopping sites and services. It is a payment wallet that allows both paying, sending, and also receiving money. The system is simple and opening an account is quite easy. PayPal now has a very powerful network and occupies a large share of the electronic transactions market. 80% of online transactions belong to PayPal.
PayPal is an online payment system founded in 1998. Its main headquarters are located in San Jose, California. It is managed and owned by the company Paypal Pte Ltd. This firm was created from the merger between X.Com and Confinity. In 2002, it was acquired by Ebay, who recognized that a large portion of their customers were turning to this digital solution. Initially, it was focused on online banking services, but PayPal quickly became an online wallet that experienced impressive success.
In 2015, Ebay decides to break away from Paypal Several acquisitions follow for Paypal Pte Ltd. Among the companies that are acquired include Xoom, Modest, Tio Networks, iZettle, Simility. These acquisitions strengthen its reputation in the field of online transactions, as all of these companies operate in the financial sector. Currently, PayPal has 267 million users. They have access to 24 different currencies and multiple languages.
The payment system offers two types of accounts: an account for individuals and an account for businesses. Each has its own specificities. The first one is dedicated to personal use. It allows for online purchases, as well as services and transfers between PayPal accounts. Account holders can conduct transactions in various currencies using the conversion system.
The business account, for its part, benefits from services adapted to their needs. The platform also has an invoice editing tool to send to clients. Professional solutions are developed by Paypal. Businesses that register up to €50,000 in transactions each month benefit from personalized pricing. It should be noted that the PayPal payment method applies a fee for each transaction made, whether it's for a personal account or a business account.
How to use PayPal at an online casino
PayPal is a payment method used at some online casinos To be able to make a deposit, you must first have an account on the platform. Opening an account is free and can be done through a form and an email address. To fund an account, players can make a transfer from a bank account or a credit or debit card. However, they can choose not to fund the account and to debit the amounts to be deposited to the bank account. In this case, PayPal serves as a relay for players who do not want to disclose their banking information.
To make a deposit, simply select PayPal as the payment method on the dedicated page of the casino. The user will then enter the amount. By clicking, they are redirected to a page that asks for certain information. The transaction is validated and the transfer is immediate. The same procedure is applied for withdrawing winnings from an online casino. However, the processing time is not the same as for a deposit. The duration varies between 3 to 5 days and depends on the casino.
The pros and cons of PayPal
If PayPal records such success, it is thanks to the functions it offers. The processing time for transactions is among the shortest of all online payment solutions. Opening an account is easy enough. The system also offers effective protection. Additionally, consumers benefit from return protection. Sellers are also protected.
However, PayPal does have some disadvantages. Transactions are limited when the account is not verified. Therefore, it is essential to meet the requirements for identity verification and phone number verification. Additionally, for sometimes unclear reasons, PayPal may reject certain transactions and impose restrictions on the account. The wallet is not allowed in certain countries.