Online payment and e-commerce platforms have been increasing in population making sending and receiving payments either for businesses and trades. Of these platforms that offer the online payment services, PayPal has been one of the popular of them. To get started on the platform is just free and the account set up isn’t a daunting process. This article will give a brief insight on PayPal and how to create login details.

What’s PayPal and How Does it Work

PayPal

PayPal is an online platform electronic that help businesses and trades to make payments through transfers. The company was fully established in 2002 in America. It currently operates in  up to 202 markets and has 377 million active, registered accounts. PayPal allows customers to send, receive, and hold funds in 25 currencies worldwide.

Setting up a PayPal account is free and easy-to-use. It works on all devices be it Desktop, PC, Mac, iOS or Android. Though the service is free to use but charges fees for sellers, international transactions and for sending money with a credit or debit card, however, any purchases made in the United States with the PayPal service are free.

PayPal majorly offers two types of accounts, which are Business and Personal Accounts. The type of account to use depends on what you want to be using the service for. The personal account is for individuals who want to buy and sell items on a personal basis, while the business account for business related transactions.

What Are The Uses Of PayPal

The following are basically what you can use PayPal for:

• It is use to send or receive payments for online transactions.
• It is use to purchase or sell goods and services.
• It can be used to make or receive donations.
• It can as well be used to exchange cash with someone.

What are the Types of PayPal Accounts

There are basically two types of PayPal accounts, which depends on the types of transactions which you want to use the platform for. These are:

1. Personal Accounts: This PayPal account is for individuals who wishes to send or receive payments for personal purposes. These purposes can be splitting of dinner bills or rental charges etc. The account can also be used by casual sellers or non-business owners as well.

2. Business Accounts: This account is the type that is recommended for merchants or businesses who are duly registered or with a group/company name. It offers business specific features, for instance it allows up to 200 employees limited access to your account. It is free to set up and use, just like a personal account.

Also Read: Top Best Accounting Software For Small Business And Start-Ups

What Are The Documents Needed To Create A Login Details For PayPal Account

There are now many things needed to create an account on PayPal. To be specific, the things you will need in creating a PayPal account are:

• Email Address
• Telephone number
• Debit Card
• Credit Card
• Account Number

How to Create a Login Details for a PayPal Account

Creating a PayPal account will give you the permission to use the platform to perform any of the services it offers. The steps to create a PayPal account are below:

Step 1: Launch your browser and visit PayPal’s website

Step 2:  Then on the homepage, click the Sign-Up button the top-right corner.

Step 3: Select the account type you want to be using for transactions

Step 4: Then, enter your phone number and verify the number using the link sent to you.

Step 5: Proceed and fill your personal information which include name and email address

Step 6: Now, create a password and click “continue”.

Step 7: Click “Get Started” button to add your debit or credit card information.

Step 8: Go to your email address and click on the link sent to your email address to verify the email address. That’s all.

How to Verify A PayPal Account

Verifying an account on PayPal is to add bank details to the account, before you can be allowed to start using the funds. This is done by just providing the information on your debit/credit card in order to link your bank account with the PayPal account. The steps to follow are below:

Step 1: Step 1: Launch your browser and log into your PayPal account via the website

Step 2: Navigate and click “Pay & Get Paid tab”

Step 3: Then select “Banks & Cards” under the “Wallet” as seen

Step 4: Select the bank account or card you want to verify.

Step 5: Check your bank account or credit card activity for PayPal’s deposit.

Step 6: Now, confirm your account. Use the 4-digit code sent if you are using debit/credit card or use two deposit amounts, if you are using bank account.

Step 7: That’s all. You can now send and receive payment on PayPal.

Conclusion

PayPal is one of the leading platforms that allows users to send and receive payment electronically within and across borders. It is suitable for personal and well as business purposes. The service is easy to use and user-friendly. However, to be able to have access to the service, you need to create an account. This account can only be used for payment or receive payment only if it has been verified. Verification is simply connecting ones bank account or debit/credit card inform to the PayPal account created. It is that simple. Now that you’ve known how to create and verify a PayPal account, why not create one.