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Re: How does PayPal work?



At 05:23 PM 2/7/2001, Allen Fugelseth wrote:
>I have heard about something called PayPal.  What is it and how does it
>work?  I need to send money to the UK and I hear this is a way.  Anybody
>experience out there?

I use paypal a lot to buy things on Ebay.  (Usually ham radio stuff, so is 
on topic.  Recently: Transverter, heliax, 2.4GHz preamp)  I think it is great.

Really speeds up an Ebay transaction because the typical "mail a check" 
method has both the mail delay and the delay while the seller waits to make 
sure the check clears.  Both are eliminated with paypal.

When you tell them to "pay" a seller, they send that person email.  When 
the recipient clicks on a link in the email, he is taken to the paypal web 
page where he signs in, and then can accept the payment.  At that point 
your credit card is charged and the money shows up in the seller's paypal 
account.  He can then have it transferred to his bank account.

There are variations, but that's the basic idea.

You have to have a seller who is comfortable with paypal.  Some folks 
are.  Some are not.  Not much you can do if the seller is not.

As someone else already mentioned, this is all explained on their web page.

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