Can I Use a Credit Card With PayPal?

By Rhonda Campbell

  • Overview

    More than 100,000 websites use PayPal. The company's official website notes that, "PayPal has quickly become a global leader in online payment solutions with more than 164 million accounts worldwide. Available in 190 markets and 17 currencies around the world, PayPal enables global ecommerce by making payments possible across different locations, currencies and languages." Part of what has made PayPal successful in the ecommerce business is the various ways the company allows vendors to send and receive payment.
    Can I Use a Credit Card With PayPal?
  • History

    PayPal started in 1998. The company is located in San Jose, California. Its founders are Elon Musk, Peter Thiel and Max Levchinis. The company was initially called Confinity. Four years after PayPal was founded, it was acquired by eBay.
  • Payment Methods

    Three types of accounts are available through PayPal--Personal, Premier and Business. Each of the three accounts allows individuals to send and receive money from customers and family and friends. Users will need to sign up for a free PayPal account to start sending and receiving money. Charities can send and receive charitable donations through PayPal. It takes approximately five to 10 minutes to sign up for a PayPal account. When you create your PayPal account, you will sign up with a primary credit card or bank checking account. You can easily change the method of payment in the future on new purchases that you make. PayPal accepts major credit cards. In addition, PayPal accepts debit cards and payment via personal banking accounts. You can also make a payment using the telephone or the Internet. The company also allows users to make multiple or mass payments. This option is beneficial for small businesses that pay multiple persons for project or contractual work.

  • Significance

    PayPal allows you to receive monies through your website, by signing into PayPal, with the click of an email link or via the telephone. The firm is known around the world.
  • Benefits

    PayPal allows account holders to keep a record of all monies sent and received to and from a single account. When preparing taxes this electronic record keeping can save time. It also provides the additional comfort of having a second party record keeper for monies transferred in and out of your account. PayPal also verifies the address of customers who purchase your products which offers additional security to your bottom line. If you send regular weekly or monthly bills, you can create invoices using PayPal and set the invoices to go out to customers at a specified time to customers. You can send the invoices via PayPal, Quickbooks or Outlook.
  • Considerations

    PayPal charges a small fee to receive monies irregardless of the method of payment that you use. Depending on the type of account and the method of payment received that you have, fees range from 1.9 to 4.9 percent per transaction.
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