Discuss Forum
1. Paypal is a
- A. Bank
- B. Bank
- C. Bank
- D. Bank
Answer: Option B
Explanation:
PayPal is an online payment service and a mobile wallet that allows users to send and receive money and pay for goods and services online securely without sharing financial information directly with the recipient. It acts as a secure intermediary, linking to a user's bank account or credit card to facilitate transactions for both individuals and businesses.
- For individuals: It's a way to send money to friends and family or pay for items online, using just a login instead of entering card details for every transaction.
- For businesses: It's a tool to accept payments from customers, with options for business accounts that can accept payments and donations.
- How it works: Users can link their bank accounts or credit cards to their PayPal account, and then use their PayPal login to complete purchases or send payments.
- Security: PayPal works by moving the payment from your linked account to the merchant without revealing your full financial details.
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