HOW PAYPAL AND EQUITY Work DETAILED INFORMATION
What is PayPal? This is payment service that allows you to transact money online, buy goods or services online and pay using PayPal services and all your information regarding PayPal will be secured.So how do Paypal And Equity really work?
How PayPal work?
When we have a vendor and a buyer who have PayPal, account they can transfer money and withdraw it instantly. If the purchaser hasn’t registered for a PayPal account, they can still pay the vendor using PayPal, with their ideal card.
The buyer will link this card to their PayPal account.When you buy a product from a vendor who accepts PayPal services this is what will happen; the purchaser will have the amount in his PayPal account, and the required amount will be deducted and credited to the vendor’s PayPal account without revealing important details to the supplier.
The buyer, if he has any remaining amount on his PayPal account, he can deposit it to his bank account to withdraw later. In case the buyer is a Kenyan, they can withdraw the remaining amounts to their qualifying Equity bank account through the Equity bank withdraw service.
How is PayPal account beneficial?
1. PayPal allows you to transfer funds to any person who has a PayPal account.
2. You can receive online payments when you have PayPal and also receive or send money to any individual in the world.
3. The funds can be transferred locally and internationally when using PayPal in a very safe, secure and convenient method without asking for any forms to be filled.
How is PayPal relevant to my business?
1. PayPal attracts a broad audience of people who prefer their services for international money transfer.
2. 188 million customers/vendors use PayPal services, and the service is found in more than 203 countries.
3. It’s easy to register to be an owner of PayPal account, and you can create the account from the web irrespective of where you are.
4. Everyone hates the tiresome feel of filling in the details of the form about your account; PayPal frees you from that.
5. The commission is very affordable.
6. There are all necessarily secured measures put in place to protect your account from fraud and being hacked.
How to create a PayPal account?
1. Visit Paypal
2. On the right-hand side at the top menu of the PayPal tab click ‘Sign Up.’
3. Then next step will be to select your country from the drop-down list, select ‘Kenya.’
4. When asked about the language you want to sign up for, choose the appropriate one according to you.
5. There are two types of PayPal account, business/personal. Select the proper account.
6. Click on the ‘open account’ option.
7. Answer the questioned asked correctly to help you create the account.
8. The email given when creating the account will be asked of you when finishing up the PayPal process.
9. After opening a PayPal account successfully, you have verified if you won the account.
When creating a business account, you have to provide the name of the firm and other related information needed for the company account.
How to verify the PayPal account
1. You must have a working ATM or credit card. Read Nakumatt Global Card: PayPal Verification
2. Sign into your PayPal account and select on getting verified.
3. The details from your card (ATM/credit) will link your PayPal account to your card.
4. The next part is to complete the verification process.
5. A particular minute amount will be deducted from your PayPal account, and it will be returned once you have verified the credit card belongs to you.
6. There will be a security pin number being asked from you, fill in the OTP digits that were provided in the statement reference, to have a verified account.
7. Sometimes the code can delay up to 5-days before it can reflect, on such occasions call the bank’s support that is associated with your card to get help.
What to note;
All ATM cards and credit cards are allowed to be used for the services mentioned here.
Opening a business account will have to make you have a credit card that allows intentional transaction and also online transactions.