How does this payment method work?

The PayPal account is a virtual account: The identity of the account is defined by the PayPal member's email address, so there is no account number. The account can be used to make payments to third parties and receive payments from third parties. In this process, PayPal acts as a service provider for the transfer.

A fundamental advantage of PayPal - as well as of other micropayment systems - is that payments made via PayPal are immediately credited to the payee and thus, for example, the otherwise usual bank processing time for a bank transfer is eliminated. Purchases made in an online store can thus be paid very quickly. This shortens the delivery time.

PayPal members must register with their personal information; a bank account or credit card is not mandatory. If the PayPal member adds a bank account, PayPal will perform a test transfer to the specified account to verify it. After that, PayPal members can send money to any email address in the supported countries.

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