What is PayPal: This an online platform that gives individual and business a low – cost or affordable service, to enable 2FA on your account makes it more secured and decline the entering of hackers. PayPal helps to make payment between parties via online transfer so easy.
It gives a room for customers to create an account on its platform which is connected to a user’s credit card or checking account.
It is a very secured way of sending online payment and PayPal has been running it own company since 2015.
In as much as identification and proof of fund are confirmed, then users can begin to send or record payment from other PayPal account online or via the company’s app.
HISTORY OF PAYPAL
The first form of PayPal was launched in the late 1990s by confinity.
The company merged with X.com – an online banking company and officially took the PayPal name in 2001. It broke into the mainstream when it appeared as a payment facilitator for eBay auctions. The service became so popular that eBay decided to acquire PayPal in 2002, making it the official transfer service for tit website. In 2015, PayPal was spun off as an independent company. Company shares trade on the Nasdaq under the ticker symbol PYPL.
Advantages of using PayPal
====> PayPal is a famous site for transferring fund between people and business online
====> PayPal is very easy to use
====> It is also friendly when you have an account on PayPal
====> You can buy the stuff from online stores and receiving and transferring money from one account to another
====> Using PayPal is free, it does not include any funds likes service charges, membership fees.
====> PayPal give special discount for the customer
Disadvantages of using PayPal
====> PayPal is very vulnerable to fraud; many times, fund will be refunded even after the bought items has been shipped and delivered.
====> Lack of good customers arise when you have problem with a payment
How to use PayPal
As we have discus earlier that one can uses PayPal to shop on many websites and transfer money quickly to anyone with an email address and to start using PayPal will need to sign up for your personal or business account, which means we have two types of account when it comes to PayPal.
- Personal PayPal account
- Business PayPal Account
Personal PayPal account is only meant for online shopping and sending money to friends and relations
Business PayPal Account is majorly used for business and it allow up to 200 employee and to offer some other special benefit,
How to set up PayPal Account
====> Firstly, visit PayPal website and click on sign up
====> Choose the Account type either personal or business account, then click on continue
====> Put in your name, email address, and password, then click on continue
====> Then add your address and other required information and click on continue
====> There is another dropdown menu, though this menu is optional, click the blue button (Get started), add your credit card information and click add card.
====> Verify your email address sent to you from PayPal
Note: To confirm that your PayPal account is properly set up, you will need to verify your account
How to verify a PayPal Account
====> Click the wallet tab, then choose the card you want to verify
====> Click the confirm card and small amount will be charge to your card
====> Go to your credit card statement and write down the four digits code sent to you from PayPal
====> Click the wallet tab in PayPal once again
====> Select the card you want to verify
====> Enter the four digits code and click confirm
How to enable 2FA on PayPal Account
2FA is a short way of writing two factor authentication and it is a way of adding a stronger security to your PayPal account to chase away hijackers from your account and this can be achieved via two ways
====> Via text messages (SMS)
====> Via a phone application
Importance of 2FA on your PayPal Account
====> It allows to achieve multiple layer security that decline hackers that can gain access to your account
====> It acts as an alert when there is an attempt as you receive a coded to your mobile or app each time you want to login
To enable 2FA for your PayPal account via Authentication App
====> First thing is to login to your PayPal account if you have and if you do not have you need to create one.
====> Then click on ‘cog’ settings icon
====> Then click on your profile which take you to profile setting page
====> Click on the update button in between 2 – step verification section
====> Then choose one out of the option given to you “Text me a code”, “Use and Authentication App” or use a security key
====> After your selection then click on set it up
Note: If you are using send me a code, then you will need to add your phone number to generate your 2FA code (OTP)
====> Then click next to confirm that you are the real owner of the PayPal account
====> Then add your backup device and click on Done.
How to Disable to 2FA on your PayPal Account
To disable 2FA on your PayPal account is very simple if you try the following steps
====> Log in to your Account
====> Go to security option
=====> put in your phone number for your OTP
====> Then disable it.
As we have discussed that PayPal is an online platform that give an affordable services when it comes to money transfer either between business parties or relatives. That is why it is very advisable to enable 2FA on your account for more security to stop the entering of hackers.