PayPal is a good example of the alternative to credit card payment, providing the payment link between buyers and sellers. PayPal is commonly us to settle purchases made on internet auction sites such as eBay. In recent years, PayPal ha become one of the internet’s most popular payment systems.
A user has to open an account with PayPal to be able to pay and receive money. The account then should be funded with credit or debit cards, electronic wire transfers or by other methods.
It is more economical for PayPal that the account is funded from the consumer’s bank account as it costs very little to process the transaction.
PayPal acts as a merchant in a card funded transaction and pays the merchant service commission to its acquiring bank.
PayPal made it possible; for an HTML developer to accept online credit card payments from any web page without requiring the years of programming skills necessary to install credit card processing software on a web server.
PayPal payment system
