Should I use Paypal wallet for international payment ?
1. Who should not use Paypal e-wallet?
- Those who have no need to buy a service or a product in another country.
- Those who do not want to receive money, transfer money from one country to another.
2. Reasons to use Paypal e-wallet
- Safety: Paypal is a world-famous intermediary payment service with strong investment and the support of leading security experts in the world, so it is very safe and reliable. The user protection policy is very strict so that the right to buy and sell benefits is enforced fairly. Therefore, buyers often rarely lose money and can get back the money lost through a few steps to make lawsuits. This is the basis for making people feel secure when making transactions, Paypal mediates all disputes very well.
- Quick and easy: The service system is simple, convenient, easy to use, just a few simple steps to transfer money, receive money, deposit money into an account, withdraw money to banks in water within minutes.
- Popularity: Many companies and individuals around the world use Paypal as a channel to receive cross-border payments in transactions. Therefore, most websites of these companies and individuals support payment via Paypal.
- International payment trend: Today the trend of cashless shopping is a modern trend, cross-border shopping, business, and payment are no more borders. Therefore, people will use Paypal as a must-have trend to solve problems related to payment safely, easily, quickly and simply as possible.
- Easy to integrate into Website, Mobile: Backstage system support for other applications such as Website, Mobile is very good, very complete, very rich, very easy for any application development. Fast integration.
3. How to use Paypal e-wallet?
- Conditions to join Paypal: have 1 email account, 1 domestic bank account.
- Paypal has 2 basic types of accounts that are personal and business type. Those who provide services or sell products should register a business account and integrate Paypal payment tool into Website, Mobile.
- After registering to open a Paypal account, you need to confirm your account via email address, either via your registered phone number, possibly via the newly added bank account information, or maybe via Visa card, Master has just been added. The confirmation needs to be done before making the transaction.
- Before depositing money into Paypal, you need to add a bank account to it, after a few steps of confirmation, you can deposit money into Paypal through this bank account to buy services and products.
- You can also top up Paypal through Visa, Master card by adding card information to Paypal account, also through a few confirmation steps, you can recharge and buy services and products.
- Paying money from a bank account or from Visa or Master cards costs a small amount of foreign currency conversion fee.
- You can transfer money from Paypal account to another Paypal account very easily via email account, if the same country, there is no charge, but other countries, it may cost a little fee.
- You can have multiple Paypal accounts with different email accounts.
- You can withdraw money from Paypal to your local bank account with a little fee per withdrawal. At present, if withdrawing money to Vietnamese banks, the withdrawal fee is about VND 60,000 / time. If you transfer the wrong account, the refund fee back to the Paypal account is 70,000 VND / time. Therefore pay attention to this place to avoid additional charges. Withdrawal completion time is less than 7 days, usually 2 to 4 days.
- If you use a business account to provide some services, or sell some products and have Paypal payment tools integrated on the Website, Mobile, when receiving money from customers you will have to pay 2 types of fees. : 1 is a fixed fee of $ 0.3 + 4.4% of the value of the service, product each time customers pay you. Therefore, you should consider the price of services and products to ensure you achieve the best profit. This fee schedule is subject to change by Paypal policy, you can find the fee schedule on Paypal.com for more details in the business process.
4. Some attention when using Paypal
- The first information is First name and Last name, will be written without accents, you see where is the First name, it is my name, and where is the Last name, it is Last name, my middle name.
- Full name on the face of the bank card, Visa card, Master card and on the Paypal account must be exactly the same in order, not change the order of words, for example, Nguyen Van A on the bank account is on Paypal, on Visa card, Master is also Nguyen Van A. If the order of words is not normal, Paypal will not allow withdrawals. In Paypal, you can change the order of your name, so you can change it later.
- Need to distinguish the bank account number and the registration number on the face of Visa card, Master (usually 16 digits) are 2 completely different types. The 16-digit number line on the Visa, Master's card is usually required to enter the payment information when we pay