Detailed explanation of PayPal payment process and security

As a payment platform under eBay, PayPal not only relies on its parent company eBay, an Internet trading platform that brings together global merchants, to continuously expand its cross-border payment business and enhance its competitiveness in the cross-border third-party payment market, it is also very Pay attention to payment security and provide users with a series of security measures.

PayPal payment process

Account registration

Users need to use their email address as their account name and fill in their credit card number and other relevant information on the registration page. After passing the verification, they will become a PayPal user. In addition, users can also transfer a certain amount of money from the associated credit card to their PayPal account to increase the account balance.

Payment

Users first log in to their PayPal account, fill in the payee’s email address, remittance amount, currency and other information on the payment page, and then choose to pay for the remittance.

Payment Notification

PayPal sends an email to the merchant or payee notifying them of pending payment.

Receive payment

There are two situations for merchants to receive payment: if the receiving merchant is also a PayPal user, the money can be transferred directly to his account; if the merchant is not a PayPal user, he needs to follow the instruction link in the email to enter the PayPal web page and register as a PayPal Users can then choose to deposit the payer’s funds into their PayPal account, credit card or other bank account.

PayPal payment security

Verification of registered user accounts

No matter what type of user account it is, it needs to be associated with a credit card or bank card account and pass verification. For domestic users in the United States, PayPal uses random deposits for verification, that is, two small deposits are randomly transferred to the account of the newly registered user. The user needs to confirm the deposit amount as the account activation code; for users outside the United States, they need to Transfer $1.95 to their PayPal account through a linked bank account and activate the account with a four-digit code.

Guarantee of security technology

PayPal has more than 2,000 technical experts who are responsible for detecting and controlling the security and normal operation of online transactions, and use advanced SSL technology to ensure the information security of both parties to the transaction.

Policies that provide safe transactions

In order to further reduce the security concerns of both parties to the transaction, PayPal provides safe transaction protection policies including buyer protection and seller protection. For example, when the buyer does not receive the goods or the goods received do not match the description, he can appeal to PayPal and obtain the refund guarantee service.

Through the above measures, PayPal not only simplifies the cumbersome procedures of cross-border payments and optimizes users’ cross-border online payment experience, but also provides secure information circulation and online payment channels for both parties to the transaction, which greatly protects users. The security of sensitive information such as credit cards and bank accounts.