How Does Paypal Work ?

Paypal was founded in 1998 in California and bought over by eBay in 2002. Currently it already has over 50 million account holders worldwide and it is probably going to grow even bigger in due time when the rest of the world catches up.

Paypal is a payment processing gateway that enables buying and selling over the internet securely and fast. Do note that PayPal is not legally a bank and they are privately owned payment processing company still.

If you are a seller, you can use Paypal to receive payment from customers all over the world.

If you are a buyer, you can use Paypal to safely pay merchants all over the world.

Paypal allows secure transactions to take place without revealing your financial details to the merchants.

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Signing up for a PayPal account is free. Really... But of course there is a limitation to the free accounts.

3 types of Paypal Accounts are available :
Personal
Premier
Business

Hey, in just minutes you sign up, you can already start sending money worldwide!

Basically there's no charge by Paypal to send money. But there is some transaction fees that are applied when Premier and Business Account holders receive money.

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The internet is really a great big open marketplace. If you cannot use Paypal, there are always other alternative payment processors you can use to conduct your businesses. Depending on what you are selling, you can opt for the following payment gateways instead :

1. Clickbank
Clickbank has been around for the longest time. It is not purely an payment gateway but it has a affiliate marketplace as well. If you are selling a digital product, then Clickbank is an excellent alternative to Paypal. Plus there is a major advantage that your product is exposed to other affiliates who may help you sell.