Everything You Need To Know About PayPal

By Sanesh Mathew | October 19, 2019

PayPal is an online payments system which lets you pay merchants for purchases, send money and accept online payments made to you. Read on to know more.

Everything You Need To Know About PayPal

You have heard of PayPal, right? If you haven’t, then this article is exclusively for you. And, if you have but haven’t tried it yet, then this article is for you too.

Online payments, digital wallets and Credit Cards, saw a phenomenal increase in adoption during the demonetisation wave that swept the country in November 2016. Curious to know more about the whole digital payments landscape in India? Read this.

Although PayPal made its entrance as an online payment system back in 1998, it launched its domestic operations in India only in 2017. Being fairly new, it is not a wonder that Paypal isn’t as popular a payments option as its competitors such as Paytm and Amazon Pay. However, it does offer quite a lot of benefits which as consumers we should be taking advantage of. And it’s fairly simple to sign up for PayPal and use the various services it offers.

Here’s a simple step-by-step guide on how to get started with PayPal.

About PayPal

To put it simply, PayPal is an online payments system offered by the American digital payments company, PayPal Holdings Inc., which lets you pay merchants for purchases, send money and accept online payments made to you.

Like we mentioned earlier, PayPal was established in 1998 and was offering cross-border payment services across the globe and domestic services in certain markets. However, it was only in 2017 that it started domestic operations in India. Prior to this, PayPal was only offering cross-border payments for Indian merchants. But since the launch of domestic operations, PayPal now offers payment options for both merchants and customers for domestic as well as international transactions.

Additional Reading: 8 Instant Money Transfer Solutions You Didn’t Know About

Benefits

With PayPal, you can buy or sell online without any worries. It is fast, safe and easy. Here are some of the other benefits that you can enjoy with a PayPal account:

180-day buyer protection

It’s a first-of-its-kind refund option offered by PayPal that gives online buyers the opportunity to file a refund dispute within 180 days in case the items they ordered do not match the description, is defective, or doesn’t get delivered. Let’s quickly look at the purchases that are covered and not.

Covered:

  • Getting a used item instead of a new one that was ordered
  • Not getting all the items that you ordered
  • Getting another item instead of the one ordered
  • Damaged items, even if the item was damaged during transit
  • Knock-off items instead of original

Not covered:

  • Prepaid cards and gift cards
  • Real estate and motorised vehicles
  • Manufacturing-related machinery
  • Products that violate PayPal’s policies
  • In-person purchases
  • Financial products and investments
  • Donations

*Kindly check PayPal’s website for a more comprehensive list.

Just one account for all transactions

With PayPal, you just need one account for all your global and domestic transactions. Just so you know, PayPal is accepted by 19 million merchants across the globe.

One Touch™ payments

Sign up for a PayPal account and then activate One Touch to skip having to enter your login details every time you make a purchase with PayPal. With One Touch, you can shop faster without compromising on security. Even with One Touch, PayPal offers the same buyer protection and fraud protection.

It’s totally secure

Enjoy worry-free shopping with PayPal. It’s completely safe. Your financial details are completely safe with PayPal. They do not share it, not even with sellers.

How to use PayPal

No rocket science here! It’s simple. You can use PayPal online as well as on your mobile. Here’s how to set up and use PayPal:

1: Sign up

The first step is to sign up for PayPal. You’ll need an email ID to create a PayPal account. Sign up is completely free and takes just a few minutes.

2: Link your Credit or Debit Card

You’ll need to link your Credit or Debit Card with your PayPal account to use it. Don’t worry, your card details are completely safe with PayPal and you’ll need to do this linking just once. You’ll not be asked for your card details thereafter. Card details required to link with PayPal are your card number, card expiry date and card CVV number.

3: Select PayPal as your preferred payment option

When you’re making payments for your purchases, you’ll be asked to choose your preferred mode of payment. At this juncture, choose PayPal to check out faster and safely, while getting to enjoy amazing offers every now and then.

Simple, isn’t it? On making payments with PayPal, you’ll also receive email receipts of your purchases.

Additional Reading: 5-Point Checklist To Ensure Safe Online Payments This Festive Season

Start your PayPal journey with BankBazaar

PayPal is indeed a simple, safe and convenient option to pay for your purchases online. So, why don’t you start your PayPal journey via BankBazaar? It’s super easy. Just follow the steps below:

Step 1:

Click on the PayPal banner on the BankBazaar website or mobile site (see screenshots).

 BankBazaar homepage – Desktop

Everything You Need To Know About PayPal

BankBazaar homepage – Mobile site

Everything You Need To Know About PayPal

Step 2:

If you are new to BankBazaar, then you’ll be required to fill in a few details – personal and residential. Post this, you’ll be directed to PayPal’s ‘Create Account’ page where you’ll be required to enter your email address and a password to complete the sign up.  If you aren’t new to BankBazaar, you’ll be directly taken to PayPal’s ‘Create Account’ page.

Everything You Need To Know About PayPal    Everything You Need To Know About PayPal       Everything You Need To Know About PayPal

Step 3:

Finally, you’ve to add your Credit or Debit Card to your PayPal account. All you need is to enter your card number, expiry date and CVV number (the three-digit number at the back of the card). Once you’ve linked your card, you wouldn’t be asked for your card details in future transactions.

Everything You Need To Know About PayPal

And, lo, you’ve successfully activated your PayPal account.

Latest offer on PayPal

Currently, PayPal is running an exclusive offer for first-time users of PayPal India. Pay with PayPal on eligible domestic merchants such as BookMyShow, Myntra, SonyLIV, EaseMyTrip.com, Bewakoof, UrbanClap and more and get up to 100% cashback voucher on your first-ever transaction via PayPal. The value of the cashback voucher depends on the merchant. You can check out the available deals on PayPal India’s website.

Exclusive deals with PayPal

PayPal is accepted in over 200 markets globally by 19 million merchants. It is trusted by over 250 million customers across the world. Here’s a quick look at some really great deals you can take advantage of by signing up with PayPal:

Brand Offer (For new users) Validity
BookMyShow 100% cashback voucher (up to Rs. 500) 31st December 2019
Myntra 50 % cashback voucher (up to Rs. 600) 31st December 2019
SonyLiv 100% cashback voucher on SonyLIV’s annual pack worth Rs. 499 15th November 2019
Abhibus 50% cashback voucher 10th November 2019
EaseMyTrip.com 100% cashback (up to Rs. 1,150 off) on minimum spend of Rs. 2,500 30th November 2019
Bewakoof 50% cashback voucher 13th November 2019
UrbanClap Flat Rs. 250 cashback voucher 22nd December 2019

*The above-listed offers are available only for new users and on their first-ever PayPal transaction. Also, these offers are as of 8th November, 2019, and are subject to change in the future. Kindly refer to PayPal India’s website for the updated list of offers.

Additional Reading: How To Use Digital Wallets Effectively For Online Transactions

So, are you ready to get started with PayPal? Well, waste no time, then! Just click the link below to get started.

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.
Category: BankBazaar Online payment systems
Sanesh Mathew

About Sanesh Mathew

A talkative sleepyhead, Sanesh, enjoys watching horror movies, listening to music, reading all things related to personal finance and wandering aimlessly (walking meditation, he calls it!). He refers to himself as a 'simple human being with a rather chaotic mind'.

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