PayPal is a popular means of online payment and payment. Elon Musk is one of the founders of PayPal. PayPal (or PayPal) is currently leading the digital payment system. But many people in our country do not know what PayPal is and its benefits. Because in BangladeshPayPal has not yet started offering them. Maybe PayPal will come to Bangladesh in the next couple of months.

PayPal has more than 360 million users in more than 200 countries around the world. PayPal completed 4 billion transactions in the third quarter of 2020 alone.

Since its inception in 1996, PayPal has opened up new possibilities for online shopping and money transfer. PayPal can be easily used instead of the traditional credit card to pay online. PayPal has a unique role to play in alleviating the suffering of check or wire transfer services.

Anyone can open a free PayPal account and send money to their bank account, credit card or debit card.May add to PayPal account. Let’s find out more about PayPal, the popular online payment system.

What is PayPal – What is PayPal in Bangla

PayPal is an online payment system that we already know about. PayPal is an American multinational company that provides financial services through technology. Money can be sent / received and received online through PayPal.

Bank account, credit card or debit card linked to PayPal accountIncome from PayPal supported stores with bank money using PayPal. PayPal acts as a middleman between banks and merchants. PayPal also ensures the security of payment information.

The service can be used to send money to friends or family members using PayPal as well as receive money from others. These features come in handy in a variety of situations.

PayPal Credit – PayPal Credit

PayPal Credit is an open-end credit service account operated by PayPal. HoweverPayPal credit but not a real credit card. Where PayPal Credit is supported as a payment method, PayPal Credit can be used. Different fees apply to PayPal like credit cards.

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This means that PayPal Credit acts like a virtual credit card, which can only be used at PayPal-supported payment points.

PayPal Cash – PayPal Cash

In 2019, PayPal launched this separate feature called PayPal Cash. All the money in PayPal together is called PayPal Cash.

When someone sends you PayPal money, you can keep it in PayPal Cash account or transfer to bank if you want. Money in a PayPal cash account can be sent to family or friends without the intervention of a bank account.

PayPal Cash Balance can also be availed from online payment services like Google Pay and Samsung Pay.

How PayPal works – PayPal Explained in Bangla

PayPal serves as a service platform between two people who want to exchange money between themselves. It can be used to send money to friends and family without any charge. A small fee is charged for using PayPal on any service or purchase.

A simple PayPal account is enough for personal use. However, for use in business, you have to open a PayPal Business Account. Although PayPal payment can be taken using personal account, business account has different benefits.

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PayPal offers Fraud Protection, enhanced security and encryption features for all transactions, both personal and business.

Advantages and disadvantages of PayPal

Every day, countless buyers and sellers around the world are using PayPal (www.paypal.com) for money transactions. With the advancement of technology, people are moving away from the traditional practice of money transactions and embracing digital payment systems like PayPal.

Let’s find out why PayPal is so popular and why this payment service is used so much. We also know that there are some problems with using PayPal.

Advantage

PayPal is an effective way to pay online. Let’s find out why PayPal is more convenient than other payment systems.

Protection

PayPal provides great protection for payments. The company completes every transaction following a very good encryption system. PayPal Purchase Protection also provides protection on every transaction. This means that in case of any problem, PayPal will help you with a refund or any other way.

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Acceptability

The size of PayPal as a payment service can be gauged by looking at its operations in 203 countries. Payments can be made without having to convert currency using PayPal in any country, which is a huge advantage for travelers.

Speed

You do not have to type bank account number to make payments using PayPal. Any type of PayPal transaction can be done using only the smartphone at hand. So making payments using PayPal is a very quick and easy process.

Reward

PayPal offers rewards based on usage. Just as there are rewards for credit card payments, there are also rewards and offers for PayPal transactions.

PayPal rewards are also available if you use a credit card linked to a PayPal account.

All in one

We already know that bank account, credit card, debit card can be added to PayPal account. As a result, all transactions can be done from PayPal without any hassle. PayPal also has PayPal support in most countries of the world, making PayPal a universal wallet system.

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Difficulty

There are advantages as well as disadvantages of all things. PayPal is no exception. Let’s take a look at some of PayPal’s pitfalls.

Charge

Although PayPal balance can be used to send money to family or friends for free, without any additional charges, PayPal deducts charges for business transactions.

Instantally pay 1% charge for money transfer from PayPal to bank account. Again free bank transfer can be done but it takes some time.

Account freezing

There are many complaints in the name of PayPal in case of freezing the account. Once your PayPal account is frozen, your PayPal account or the money in it will be out of reach until proven innocent.

PayPal Alternatives – PayPal Alternatives in Bangladesh

PayPal is not the only online payment system. In addition to PayPal, there are many other popular payment systems. Let’s find out about some of PayPal’s alternative services.

Pioneer

In the country Freelancing Due to its growing popularity and the lack of PayPal, it is quite popular as an online payment system Pioneer. Can be used in any country that accepts MasterCard Pioneer. Also from local bank or ATM boothPioneer balance can be cashed out. To open a Pioneer account Click here.

Development

Development Almost everyone knows about. The most popular and most popular digital money transaction system in Bangladesh is bKash. Any type of transaction can be done within the country Development account Uses. Money can also be transacted with banks using bKash.