What does PayPal mean?The latest PayPal account Chinese registration application tutorial

OnE-commerceWebsite, buy and sell transactions, as long as you have a PayPal account, everything is fine.

Although many people use PayPal to buy or receive money online, there are still people who don't know what PayPal means, soChen WeiliangHere is a Chinese introduction to PayPal.

What is PayPal?

PayPal is an online payment system (Internet Money Transfer), a company owned by eBay.

• PayPal makes it easy for individuals or businesses to make online payments and receive payments via email.
• A PayPal account is PayPal's most secure online electronic account, which can be used to effectively reduce instances of online fraud.
• Advanced management features in your PayPal account to easily control the details of each transaction.
• Currently, more than 90% of sellers and more than 85% of buyers of cross-border transactions are approved and use PayPal electronic payment service.

Advantages of PayPal

1) The reason why PayPal is superior to other online banks is its strict authentication security mechanism and high security.

2) ImproveSmall tradeThe convenience of cross-border transactions.

3) As the number of people using PayPal increases, the convenience increases.

PayPal Business Account Features

1) low cost

• There are no fixed or monthly fees, no cancellation fees, and no minimum payments.

2) Quick Settings

• Internet entrepreneurs can start using PayPal by signing up for an account in minutes.

3) Safety

• As an industry leader in fraud prevention and risk management, PayPal has a 60%-70% lower fraud loss rate compared to other merchant accounts.

PayPal in the US isInternet marketingEssential tools for practitioners:

• In the US, 3 in 1 online buyers has a PayPal account, and more than 58,000 users sign up for PayPal every day.

PayPal account application steps

Step 1:Sign up for a PayPal account

You must have a PayPal account, if you haven't applied yet, please register ▼

• Chinese people in China can register a PayPal account through the PayPal Chinese page.
• If you are in Malaysia, registering a PayPal account, you can only choose English.
• The registration method for the English version of PayPal is the same as that for the Chinese version of PayPal.

Step 2:Go to the account type selection page

You can choose according to your personal needs:

• shopping account.
• Merchant account (personal or business).

(This tutorial takes PayPal Chinese shopping account as an example)

After selecting an account type, click to create a personal account ▼

The difference between a personal shopping account and a merchant account

Personal Shopping Account:

• Once a personal account is registered, it is a premium account.
• It is suitable for online shopping, foreign trade SOHO collection - create an account in the name of an individual, and withdraw cash to a personal bank card.
• Buyers generally do not need to pay fees, but they may be required to pay currency conversion fees for cross-border transactions.
• Shop at millions of online stores around the world.
• Eligible transactions, enjoy PayPal buyer protection, safe and secure shopping.

Merchant Account:

• Suitable for collection-based individuals and businesses.
• Withdrawal to the corporate account, the company uses.
• Transaction fee, payable only upon successful payment.
• Accept over 203 currencies in 100 markets.
• PayPal sellers can guarantee eligible transactions.

Step 3:Profile Filling Page

• On the personal information filling page, you are reminded that the information here needs to be filled in with real information.
• you have to usegmail, yahoo and other international emails to register your email.
• Don't sign up for 126,163, XNUMX and other emails.

After filling out, please tick the "User Agreement" and click "Agree and Create Account" ▼

Step 4:Bank Card Linking Verified PayPal Account

After clicking and agreeing to create an account, PayPal will prompt us to perform the associated verification account of the bank card.

• Of course, we can choose to link later, but the PayPal account needs to be linked with authentication in order to use it as usual.
• It is recommended that you perform associated authentication directly.

3 Ways to Verify Your PayPal Account

1) PayPal UnionPay Card Authentication:

• This is a new way of certification that you can complete on the day of registration.
• As long as you have a bank card for online banking, just log in to the UnionPay page and confirmcellphone numberinformation can be;
• After some users add it, it prompts that it is not applicable (you can try to delete the bank card and add it again, if not, you can consult customer service).
• If activation fails (probably due toPhone NumberInconsistency or bank card, not opening online banking)

2) PayPal bank account authentication:

• Within China, only China Merchants Bank, Industrial and Commercial Bank of China and China Construction Bank are supported.
• Once the bank card is bound, the PayPal authentication system will make two small payments to your linked bank account within 2-3 business days.
• Then in the Authentication box.Enter 2 small amounts with 2 digits after the decimal point.
• If you have not received two small-amount verified payments from PayPal within 7 working days.
• Please confirm the bank account name, is it the same as your PayPal account?
• Some users may experience inability to recognize multi-syllable words.

3) PayPal credit or debit card authentication:

• Binding your credit card verification can be completed on the same day.
• PayPal authentication system, which will debit your credit card by $1.95.
• The 4-digit code for the transaction, which will be displayed in your credit card account, or by calling credit card customer service.
• Then, enter the 4-digit code in the authentication box to complete the authentication.
• After the verification is successful, $1.95 will be refunded to your PayPal account (if you have not returned more than 24 hours, you can contact a consultant or customer service in time)
• Remarks: The associated bank card must be online banking, or reservedcellphone numberOnly OK.

You can choose one of the 3 methods above for account authentication.

Log in to your personal PayPal account and select Wallet from the top menu bar.

Select Verify credit or debit card to link ▼

Step 5:Verify mobile number

• In China, please enterChinese mobile number, for mobileVerification code.
• We will receive a SMS verification code sent by PayPal.
• If you successfully received the verification code, we can enter the verification code and click Verify.

If you haven't received the verification code, you can click "Resend Verification Code" again to receive and verify ▼

Step 6:PayPal successfully linked and verified the card

After we verify the phone number, we go directly to the verification success page and prompt us that the card has been linked and verified.

At this point, the verification is successful, and then we can click Finish ▼

step 7:Go to Verify Email Address page

After clicking Agree and creating an account, PayPal will go to the Verify Email Address page ▼

• At this point, we will receive an activation email at the email address and we need to check the email and activate the account.

Step 8:Login mailbox, activate email address

Log in to our registered PayPal email address.

You can see the email sent by PayPal in the email ▼

We click "Yes, this is my email address” to activate the email address of the account ▲

After the account is activated, we can log in to the PayPal account and perform account bank card association authentication ▼

We went through the above process and basically our PayPal account was registered.

• When we pay, PayPal first checks our PayPal balance to debit it.
• If there is no balance in PayPal, payment will be made automatically from our linked bank card.
• If the website payment is unsuccessful, the corresponding amount will be refunded to the bound bank card.

The following are 2 product features of PayPal available to Chinese:

1. PayPal account balance.
2. associated bank card.

It is not possible to top up your account in US dollars or RMB in credit cards and bank cards in China (nor at foreign banks in China).

Because of ChinaForexStrict management, only local banks in the United States can recharge US dollars in PayPal accounts.