PayPal: Mobile Cash -
Q&A Submitted By: App User
Seller: PayPal, Inc. (
...)
Category: Finance Reviewed Version: 7.18.2
Download: iOS Android Other Similar Apps: - Dwolla
- Google Wallet
- Venmo
Price: Paid Options PayPal has special features such as Bill Me Later, Barcode Scanner and Credit Card Reader, Express Checkout and Inventory Tracking but you need to pay for using them.
Supported Languages:
PayPal is one of the most famous Online Financing app all over the world. It is an American-company based site for making online payments or money transfer acting as a middleman. Working in most major countries, PayPal is the answer for many high-end online and trading stores and companies as the app charges minimum fees on international transactions, with low converting rates and features like purchase protection and fraud protection.
App Features and Capabilities • Free Transfer of Money: Perform free local transactions with a few clicks. It is as easy as ABC. Any transaction to purchase any item or service is free and secure.
• 24-hour check: Monitor your transactions any time anywhere. PayPal gives all the control in your hands.
• Fraud Proof Transactions: Until the buyer has not confirmed that they have received the product from the seller, the intermediary (PayPal) halts the buyer’s money. Once confirmation is received, PayPal transfers the payment to the seller.
• Fingerprint Unlock: Once activated, the PayPal account can be accessed by the touch of your fingertip, literally.
• Two-Factor Authentication: You can keep an inner app password to ensure no hacking. These feature secure and privatize your account to a maximum.
• PayPal Cash Card: Shop freely at any MasterCard accepting outlet and pay directly with your PayPal balance. PayPal will act like a bank account or a digital wallet so you can be free of carrying cash.
• Special Models: When you are only using PayPal for purchasing, the app is free with all most all the features. But if you using PayPal to sell stuff or receive payments, you will be charged with a small amount. For such customers, there is a variety of options available.
Pros • PayPal is considered the easiest to set up and use for all customers. It is a very simple and relaxed method for creating the account and using it.
• Invoices can be sent and received directly, to and from your PayPal account in matters of minutes. This works as a benefit when shopping and wanting the privacy of exchange.
• The app keeps a proper record of all the transactions from and to your account.
• PayPal is one of the most secure banking apps as it is protected by encryption systems. It is proved that the high-end protection systems resist almost all sorts of hacking. If a hacker is able is to hack any public-facing server the customer data is still protected.
Cons • PayPal has an extremely advanced and intelligent algorithm but sometimes, it detects a false move or suspicious activity, it freezes your account. This can be a big problem if you have a trading account, as the buyers will not be able to make payments to you thus decrease store reliability.
• PayPal is a popular spot for fishers and spammers that try to steal your data using the company name.
• While making payments is free, receiving payments or using PayPal for sale or business purposes is a paid feature. Therefore, if it is a business account, part of your income would go to PayPal for receiving them. The cost is even higher for international sales.
• You are also charged when sending money to most banks.
Other Information to Know The company behind PayPal started in December 1998, with a different name but was turned to PayPal in 2001. Currently, there are close to 286 million users worldwide. PayPal works on all systems, Android, iOS, and Windows, making the app phone friendly. PayPal dioes not work in a few of the countries itself but the company has a number subsideries that work in some of those.
