PayPal

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App Version: 1.00
Category: Payment Gateways

Short Description:

PayPal is an international e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as checks and money orders. It is subject to the US economic sanction list, and subject to other rules and interventions required by US laws or government.

In Details:

About PayPal

PayPal is the safer, easier way to pay and get paid online. The service allows anyone to pay in any way they prefer, including through credit cards, bank accounts, PayPal Smart Connect or account balances, without sharing financial information.

PayPal has quickly become a global leader in online payment solutions with more than 153 million accounts worldwide. Available in 190 markets and 24 currencies around the world, PayPal enables global ecommerce by making payments possible across different locations, currencies, and languages.

Security

Security token

Security token is an additional precaution against fraud. A user account tied to a security key has a modified login process. The account holder enters his or her login ID and password as normal, but is then prompted to enter a six-digit code provided by a credit card sized hardware security key or a text message sent to the account holder's mobile phone. For convenience, the user may append the code generated by the hardware key to his or her password in the login screen. 

MTAN

It is also possible to use a mobile phone to receive an MTAN (Mobile Transaction Authentication Number) via SMS. Use of a security code that is sent to the account holder's mobile phone is currently free.

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