What is PayPal?
Paypal is a payment processing system that will offer you ways of managing the money that you use to spend online. Paypal works with many online merchants and you can use your Paypal funds to shop online as well as pay for goods and services in the secondary market.
Many online bingo sites also accept Paypal as a form of funding in order to set up a gaming account. You can fund your Paypal account with your credit card or checking account, and then those funds are sent to merchants on your behalf on demand. When merchants receive funds from you, they are identified with your email address, and no other personally identifiable information is transmitted, with the exception of the name on your Paypal account, and your shipping address if you choose to send that with your payment.
Paypal is very secure and is a reputable payment processing system. They have been around for over a decade and many merchants have been using Paypal for that amount of time passing large transactions through Paypal. As a buyer, Paypal is absolutely free. It is the merchant that bears the costs of Paypal transactions.
When you register a Paypal account, you will be asked to verify your personal information by confirming your email address, credit card and bank account. This is all done securely. To register your email address, you simply wait for Paypal to send you an email, which takes about 30 seconds. When the email arrives, you click on the unique link that was sent to your email account, that tells the system that you received the email and thus confirms that the email address that you entered belongs to you.
Your credit card number is verified automatically by confirming the zip code that is on the credit card with the zip code that you enter on the Paypal account. There is also a nominal charge of $1 on your card that falls off after a couple days, and this is to make sure that you card that you entered is legitimate. Lastly, confirming your bank account takes a few days, however you can use your Paypal account in the meantime with your credit card. Paypal will deposit two small amounts, under $1.00, into your bank account. You confirm your bank account by confirming the amounts of the deposit, and then Paypal will know that you have access to that bank account. This all is a legitimate safe way to perform transactions online.
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