PayPal is an international business that offers its services for personal and business use. On a personal level, it can be used to send and receive money from friends and pay for purchases online and in stores. On a business level, PayPal offers ways to get paid from online businesses and will even fund a loan, as reported by the PayPal website.
With PayPal, a person can send and receive money online. Money can be sent to anyone who has an email or phone number. They do not have to have an account, as PayPal will send them an alert when the money was sent. Sending money is free if using a bank account or PayPal balance, according to PayPal. If not, a minimal fee is charged.
Paying through PayPal can be done on eBay, in apps, in stores and on websites. To pay on qualified websites and eBay, it's as easy as logging in with the account information and checking out. For apps, download the PayPal app and make sure "Stay logged in for purchases" is on. Then, with one click, purchases can be made in any qualified app.
To pay in stores, use the PayPal app as a replacement wallet. Pull out the PayPal app at qualified stores at the register to login and pay, as is done with online purchases.
To apply for a loan, a business has to make $20,000 or more in sales in a year and process payments through PayPal. Then, once the loan has been acquired, the payments will come out of the PayPal sales directly.