How to Make Money Through PayPal

Video Transcript

"Hello my name is Luis Estrada and I am a software developer. In this video I'll show you how to make money through paypal. Paypal is an intermediary between people allowing payments and money transfers to be completed through the internet. Paypal serves as an electronic alternative to traditional paper methods such as checks and money orders. A lot of people worry about the management of their credit card information when they buy on an on line store. If you are a new or small on line business you might not have enough brand recognition for customers to trust you with their credit card information. Also managing your customer's credit card information can be an expensive and difficult thing to achieve. If your user's data falls into the wrong hands you could be held responsible and face legal problems. Paypal is an easy solution for you and your customers. Paypal is a person-to-person service. The service allows anyone with an e-mail address to transfer funds electronically to someone else that also has an e-mail address. The initiator of an electronic's funds transfer via paypal must first register with and fund their paypal account. A paypal account can be funded with a check, money order, an electronic debit from a bank account or a credit card. The recipient of a paypal transfer can either request a check from paypal, establish their own paypal deposit account or request a transfer to their bank account. Paypal is an example of a payment intermediary service that facilitates worldwide e-commerce. Paypal performs payment processing for on line vendors, auction sites, and other commercial users for which it charges the fee. The fees charged dependent on other things is on the payment option used, the amount sent and the recipient's account type. On paypal you can create personal and business accounts. The entry level service is called website payment standard and its transaction fees are from 1.9 to 2.9% depending on the monthly revenue generated by your on line store. In the next video I'll show you how to start your own paypal account so that you can start receiving payments on your websites. I'm Luis Estrada and I've just showed you how to make money with your websites."