What is PayPal? How does it work? Can I really pay in installments? And does the prepaid still exist?There are so many questions that revolve around the most used digital payment and money transfer service in the world.
We therefore decided to collect the most common questions to create a little guide to help you understand and use PayPal and all its many features.
Can I pay in installments with PayPal?
This is probably not the very first question you will ask yourself but “Pay in 3 installments”Is the latest feature introduced by the American company.
Some of you may have read it online, others have seen the option appear during the last online shopping sessions. Still others have heard friends, relatives, acquaintances or strangers talk about this possibility.
That’s why we start from this question, because it arouses everyone’s curiosity.
Let’s start with practice. Suppose I want to buy something and decide to do so using PayPal.
I go to the site that interests me, select the object and then arrive at the checkout stage, the one in which I have to make the payment. Select PayPal, log in and you are faced with two options: pay the account immediately or Pay in 3 installments.
By opting for the latter solution you will go against a short procedure that provides for the summary of the amounts due with the relative deadlines, the acceptance of the contractual terms, the choice of the payment method – card or account – and finally the confirmation of all data entered.
Time needed to carry out the operation: about 2 minutes.
In this time frame PayPal also takes care of verifying your eligibility for installments. What does it mean? That in essence, PayPal’s algorithms establish the level of risk and decide whether or not to approve this small loan, relying, if necessary, also on the evaluation of an external partner, CRIF.
Therefore, be aware that not all requests will be approved under PayPal’s internal and / or potentially external controls.
Pay in 3 installments it is of course a conditional option: it is available only for residents in Italy over the age of 18on purchases that go and 30 € a 2000 €. And the “purchases” also include taxes. The Pay in 3 installments service is also available on the pagoPA web platform in this way you can split the cost of the payments you make to the Public Administration.
The installments are spread over two months, this means that you pay the first one immediately, the second one 30 days later and the third one 60 days later.
You can check installments and deadlines directly on the website or through the application. If you want, you can also pay one installment in advance, both or just a portion of the next installment at your convenience. For example, if the next installment is € 10, you can pay € 6 now and, at the end of the 30 days, the remaining € 4.
All this without interest, without management costs and without penalties. In fact, in case of delay you will not have to pay additional contributions.
Also keep in mind that if you miss a deadline, a dedicated team would contact you to understand what the problem is and find a solution.
Finally, we also point out that all eligible purchases made in this way are eligible for the PayPal purchase protection program which helps you if the items do not arrive or do not match the description.
For more information on Pay in 3 by PayPal you can visit the dedicated page.
PayPal Pay in 3 installments: what changes for sellers?
Nothing.
In reality, the merchants do not have to do absolutely anything. First of all, the integration with PayPal already present on the website remains valid and, secondly, PayPal already pays the entire amount to the merchants, thus assuming the risk deriving from any non-payment of the installments.
Merchants will also be able to count on an updated dashboard, which helps them understand how widespread payment in 3 installments is among their customers, and on dedicated banners that invite users to use the new feature.
The possibility of paying in installments also brings with it another advantage: users are led to spend a little more so merchants earn more. But not only that, the payment in installments pushes people to return to the same site, precisely because they know they can count on this option.
In short, for those who have an e-commerce site it is a really useful and interesting novelty.
What is PayPal?
But now it’s time to take a step back.
For some, in fact, PayPal is already a guarantee, a service that is already part of everyday life and that is used for most of the purchases.
Others, on the other hand, are now approaching this world so… what is PayPal?
PayPal is a service that allows you to make purchases, send money and accept payments.
It has existed since 1999, which means that it has been helping its users to transact online for over 20 years.
What are the benefits of PayPal?
Or rather, why should I choose PayPal? In short, if I wanted, I could simply use my credit card on any e-commerce site.
Very true.
However, there are a number of advantages that make PayPal the most convenient solution.
First of all you don’t have to enter your bank or card details every time. You just need to connect them to your account once, after which you will only need your email and password.
PayPal also it is not just for making payments on e-commerce sites. You can use it to split the bill at the restaurant, to send the necessary amount for the purchase of a birthday gift, to pay a small sum to a relative who is abroad … In short, the possibilities are many.
How do I create a PayPal account?
Creating the account is the first step. Go to the website, paypal.com, press Register and choose whether to open a personal or business account.
What changes? Both accounts allow you to send and receive money, but the business account is designed for the professional seller which could enable secondary users.
Once you have chosen the type, you just have to follow the guided procedure by entering the required data. You will also need to choose the password to use. We suggest you opt for something complex and non-trivial, also using numbers and special characters.
Do I have to be of legal age to use PayPal?
Yes, to create a PayPal account you have to be 18 years old.
How do I top up my PayPal account? Can i use cash?
To load your PayPal balance, you need to make a transfer from your bank account. This must be linked to your PayPal account and registered in the SEPA area.
Top-up must be done in EURO.
How you do it? You must log in to your account with email and password, click on Wallet, then on Transfer money and finally Top up your balance.
If you haven’t linked an account yet, you can do so in this area.
If you have already done so, it will show you the data needed to make the transfer. At this point, make the transfer, online or at the bank counter. Once the amount has been credited and the balance updated, you will receive an email from PayPal.
Keep in mind that this operation requires about 1-2 business days.
However, it is not possible to top up the account in cash. However, you can ask other PayPal users to send you money.
How do I pay with PayPal?
Paying with PayPal is very easy.
First of all you have to make sure that this type of payment is accepted. Such as? Most e-commerce have a list, often at the bottom, of the payment methods supported. Alternatively, you will have to go to the checkout stage, where the site asks you how you want to pay.
If you find PayPal, just select it. The site takes you to your account login page. Enter your email and password and then choose the linked funding source you prefer to use. You can in fact use your balance, therefore the money you have in your PayPal account, or ask the service to use a card or a current account connected to your PayPal account.
In fact, within the Wallet you have the possibility to associate one or more cards – credit or debit – to your account, choosing from time to time which one to use for the transaction but without having to re-enter the number, expiry date, CVV and holder. .
In summary: you can pay with your credit card, bank account or debit card. As long as the site you are shopping on supports PayPal.
For Non Pay in 3 installments transactions, PayPal also supports prepaid cards.
How do I send money?
You can send money both via the website and via the app.
On the website you will find the Send button while on the app you have to press the euro symbol and then select Pay.
At this point you must enter the name, username, email address or mobile phone of the recipient; enter the amount, add – if desired – a message, press Continue and choose whether to pay by balance or by card. Finally hit Send payment now and that’s it.
Please note that fees may apply if you use a card. To find out more, you can visit this page.
Can i send money abroad?
Sure. The procedure is exactly that described above.
For transfers outside the European Union it is provided a fixed rate ranging from € 1.99 to € 3.99 €, depending on the recipient’s country of residence.
If sending money involves a …