1, PayPal's explanation: PayPal (the brand in Chinese mainland is PayPal) is a wholly-owned subsidiary of Yi Bei Company. Founded by peter thiel and Max Levchin. Is an Internet service provider, headquartered in San Jose, California, USA, which allows the transfer of funds between users who use e-mail to identify themselves, avoiding the traditional methods of mailing checks or remittances. PayPal also cooperates with some e-commerce websites to become one of their payment methods; However, when transferring money through this payment method, PayPal charges a certain handling fee.

2. Payment process:

As long as there is an email address, the payer can log in and open a PayPal account, become its user through verification, and provide credit card or related bank information to increase the account amount, and transfer a certain amount from the account registered at the time of opening the account (such as credit card) to the PayPal account.

When the payer starts the payment procedure to a third party, he must first enter the PayPal account, specify the specific remittance amount, and provide PayPal with the payee's email account.

Then, PayPal sends an email to the merchant or payee to inform them that there are funds waiting to be collected or transferred.

If the merchant or payee is also a PayPal user, the money designated by the payer will be transferred to the payee after the merchant decides to accept it.

If the merchant or the payee doesn't have a PayPal account, the payee can instruct the connecting station to enter the webpage to register and obtain a PayPal account according to the contents of the PayPal mail, and the payee can choose to convert the obtained money into a check and send it to the designated place, transfer it to his personal credit card account or transfer it to another bank account.