Pros Cons Using Paypal Account Online Payment System

If you are looking for pros and cons of using PayPal Account, or searching for best and global online payment system. Well in this article I will tell you about PayPal full details, its advantages and disadvantages and PayPal accounts types etc. let’s have look;

What is PayPal?

is the international worldwide global company, which offers you to send and receive money all in the world to same person have account in same company. PayPal company offers you to create different types of account.

The payment of this company is accepting many of big website and e-commerce websites like, Facebook, Twitter, amazon, e-bay and etc. You can add and credit card and debit card into your account to withdraw money from banks.

Pros and Cons Of Online Payment System

Pros of Using PayPal Account

  1. Easy Setup

Creating account in PayPal is very easy and have few simple steps. You don’t need to move anywhere for confirmation or other documents as your county bank ask to you.

  1. Credit and Debit Card

When you sign-in to your PayPal account and insert the data of your bank account and integrate credit card in it. Once the card is accepted you never need to add your card information in it again and again for several time purchasing. So this is very benefit point for the safety of your cards and information.

  1. Send Receive Money

Now you can send and receive money to your relatives, family, friends and children just by one mouse click.

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Because the information of your account is save and secured and you can easily send and receive money in an any emergency.

  1. Online Shopping

Gifts, cloths, shoes, ticketing, Online purchasing and millions of  any other shopping website are supporting the PayPal payment system. This is the one of the best pros in all I am typing and from my experience.

  1. Discount Coupons

Another pros of using online, while shopping through PayPal accounts sometimes company offer the discount coupons and gifts. Through this coupons you can purchase more with discount or sometimes free.

  1. Money Is Save

Money in your PayPal account is safe and secure you can use your account on any computer in the world  and use your money and manage transaction with the help of computer and internet.

  1. Mobility

In the race of mobile phones and technology millions of dollars in your account in your hand. But there are no chance of stolen like money in the house. You can use and sign in to your account from your android and IOS mobile easily with the help of mobile application available in play store or app store.

  1. Customer Support

In case of any problem or in case of need any help the customer care support of PayPal company have the options. By which every user can directly connect to company and make conversation with customer care person.

  1. Transactions

If you connected your account with bank, then you have easily accessibility to transfer money from bank to PayPal and also can withdraw money into your bank account back with paying little fee.

  1. PayPal for Business

In my list this the last pros of using PayPal account. There are special type of account for business persons because in Business plan there is option to access account by more than one persons. The Business PayPal account can be used by two, three or four persons.

Types of Online PayPal Accounts

Personal

Premier

Business

Student

Cons of Using PayPal Account

  1. Freezing Account

When you sign in to your account there are the option of terms and conditions. Also there are the page at the bottom of page. Some peoples are not reading the terms and conditions are the never know these term and making transactions and using accounts. While using like this people brake some rules and in case account has been freeze.

  1. Loss of Account

This is the second cons in the list about PayPal. You always remember your e-mail and password always to access your account. In case you forgot your email address, so it means you loss all your money.

  1. Unsupported Countries

PayPal without doubt worldwide service but the service is not supported in many countries like. Pakistan, Afghanistan, Monaco, Uzbekistan, Iran, West Bank, Cuba, Nigeria, Bangladesh, Egypt, Zimbabwe, Lebanon, Serbia, Ghana, Libya, Syria, Moldova etc. And many other companies and banks.

  1. Loss of Funds

Biggest cons of PayPal account. All through your account is safe but if you are login to your account in mobile and you lost your mobile. In case any other person can transfer your fund from your account. In this case you must change your password of your PayPal account as quickly as you can.

  1. Knowledge and Training

You must bring out little time to know the knowledge and get training. Because this is account and finance related thing and if you do any wrong transaction, it would be loss for company or for you. So this is an advice to use these service must be needed and expert training.

  1. Needed Internet Connection

To access to your account for transfer money you must need the internet connection. Without internet connection you cannot use this facility.

  1. Live Support

As I describe that the company provide the customer support but this is not live customer support. Company is only provide the e-mail conversation, about which you don’t know when you will receive the solution of your problem via email.

  1. Unexpected Shutdown

Let suppose if the company shutdown, I mean the website is closed or company is closed there is high risk that you will loss all your money.

  1. Currency Types

PayPal offer 23 types of currency payments, it excludes some important currencies. The Pakistani rupee is an example. Pakistan is also largest growing economy in the world but customer are find it difficult to pay in Pakistani rupee or currency.

  1. Hold and Deductions

The last cons of the PayPal account using is when you receive money from any other person. According to the company policy they will detect some taxes. And another thing is the company may hold your money to 20 days sometimes.

Alternatives of PayPal

If you are worry about the “Pros and Cons of PayPal”. Don’t think about these pros and cons, there are always alternative of any problem. If you don’t want to use PayPal Services. There are so many online payment system which can help you to send and receive money online on easy ways. Here is list;

  • Google Wallet
  • WePay
  • Skrill
  • Intuit
  • ProPay
  • ClickBank
  • Stripe
  • Payza
  • Payoneer
  • Amazon Payments

Cite this page

Pros Cons Using Paypal Account Online Payment System. (2020, Mar 05). Retrieved from http://paperap.com/pros-cons-using-paypal-account-online-payment-system-paper-example/

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