PayPal operates in 202 countries and 25 currencies. The benefits are exponential as users can transfer funds electronically to individuals or businesses across jurisdictions, irrespective of currency. This is beneficial for businesses selling products or services online and users who wish to make purchases online.
PayPal is so simple to use, making it extremely attractive. To set up an account, a user registers online and registers their e-mail address. A user does not even need to enter their bank account details. The user's registered e-mail address is all they need to reference when receiving payments to their PayPal account.
To withdraw funds from PayPal, a user needs to verify their cheque or credit card. To verify the account, PayPal will deduct a small amount from the card (which will be reversed). Users can have multiple accounts on their profile. Users view their balance in their e-wallet and select the value to send to a linked account.
