Over the past decade, Russians have become much more likely to use e-wallets for purchases in Runet online stores and foreign trade portals. PayPal payment system has become especially popular among buyers, which has established itself as a reliable intermediary in electronic financial transactions.
The history of the PayPal payment system began in March 2000. The payment system was an invention of a group of American students, among whom was an emigrant from the Soviet Union - Max Levchin. The creation process was led by Elon Musk, the future CEO of PayPal.
The development was a tremendous success. Literally from the first month of work of the PayPal system, large electronic auctions, among which was the well-known eBay, began to use it for settlements with buyers.
In 2002, the owners of the eBay auction acquired a controlling stake in the payment system and became the owners of PayPal. The two companies merged. By the beginning of 2012, 190 countries of the world could use this electronic system for settlements. Through the PayPal system, buyers were able to freely pay with online stores in the currencies of 24 countries. Dollars were freely converted into yuan, shillings into dollars, dollars into rubles, etc. All transactions were carried out automatically in the payment system.
In 2015, the corporation split. Today these are two large and reputable companies - eBay and PayPal.
In the modern electronic market, PayPal is the largest debit payment system operating in more than 200 countries of the world, including Russia, Turkey, Ukraine, Palestine, Japan, and India. In some countries, such as the USA, Luxembourg, Australia, PayPal is licensed by the National Bank to carry out financial transactions.
In Russia, the most reputable banks in the country - VTB 24, Sberbank, Alfa-Bank - successfully interact with the payment system. Using the cards of these banks, users can freely make purchases on foreign trading platforms and in some Russian online stores. You can transfer money to the electronic wallet account of the PayPal payment system through the online services of banks whose clients are the buyer.
How can Sberbank customers fund their PayPal account through the Sberbank Online service? Let's consider in more detail.
It is important to note that this is only possible if the owner of the electronic wallet and the bank card (credit cards are preferred) are the same person.
To make a money transfer (replenish an account from a bank card or purchase goods), you must create an account in the PayPal payment system. Then linking (in other words "connect") a bank card to your PayPal account is a necessary procedure for activating the wallet. Wait for approval from the system and make purchases on the Internet, indicating in the settlement with the supplier the payment method (among all possible) - PayPal electronic wallet.
Let's take a closer look at the stages of registration on the PayPal website.
To activate an Internet wallet, you need to go to the PayPal.com website, select the "Register" button. In the window that opens, fill in the columns: personal data, contact information, additional information about the payer.
Secondly, at the request of the system, fill in the information about the bank card. To do this, you need to select the "Add or confirm card" button. In the columns you need to enter the number, card expiration date, card type (Visa, Maestro, MasterCard) and a three-digit security CVC code located on the back. If the data is entered correctly, the binding will take place automatically. But this is not the end of the procedure for linking a card to an account.
After filling in the required parameters, the user will have to confirm his identity and ability to pay. To do this, you need to click on the "Account" button, click on the card and select the "Confirm" item. The confirmation procedure is paid. Two dollars will be debited from the card account to the wallet account one time.
Data verification is carried out within four days. A four-digit password is sent to the mobile phone specified during registration. It must be entered into a special field on the official website of the PayPal payment system within two days to complete the linking of the card.
It will not be possible to make purchases in the online stores of foreign partners, as well as to replenish the PayPal wallet through online services, without losses. For each replenishment of the wallet account, 10 rubles will be debited from the card and an additional 3-4% will be charged. Interest will also be charged when paying for goods to foreign online stores and converting currencies.
Despite the somewhat laborious registration and linking of a bank card on the PayPal.com website, users all over the world prefer the PayPal payment system.
