PayPal is a service that allows you to pay online by using money in your PayPal account, your bank account or with a credit card. It’s important to treat it like any other financial account and to make sure that you monitor it carefully.
As the world’s largest online payment service, over 100 million people use PayPal to buy products and services online.
What are the benefits of using PayPal?
PayPal limits the number of merchants who have direct access to your credit card number, while giving you the same card rewards.
Buying online generally means that you have to worry about identity theft. It comes as no surprise that PayPal is a big target for cyber-crime.
With PayPal, your worries can be allayed by the fact that the service never gives your financial information to merchants. By paying with PayPal, you keep your credit card information private.
When using the service, there is no risk of having your purchase declined.
The service is free, so you don’t have to worry about paying various costly fees. There are no annual membership fees, no processing fees and no service charges.
PayPal offers convenience, especially when using mobile form of payment. Using the PayPal app on iPhone, you can transfer, send money, pay bills, review your transaction history and make purchases. To confirm any purchases you use a PIN.
Credit cards also provide convenient payment solutions. Allowing users to make purchases even if they don’t have access to cash, credit cards make it easier for people to pay in cases of emergency.
In recent years, there have been numerous reports about credit card fraud on the rise. Fraudsters continue to use advanced methods to steal credit card information to make fraudulent transactions. This has made many people wary of using credit cards- something that has had a major influence on the comparison between a credit card or PayPal.
When trying to decide which option is safer between using a credit card or PayPal, you need to make an informed choice based on how frequently you use either service as well as safety measures in place for both. You also need to consider your spending habits.