Whenever I see an article about paypal, it’s usually one-sided. It shows only the good side or only the bad side, but never the whole package. Usually paypal related articles are set to flame by constant criticisms. People want something that shows the heads and the tails of the coin and not the former only. So, what I did is interview people who shared both bitter and sweet symphonies about their paypal experiences. And for the first time, I am giving you the opportunity to see what’s been hidden to your eyes all along. These are the top reasons you need to consider before using paypal services.
So what is paypal again?
PayPal is an e-commerce business allowing payments and money transfers to be made through the Internet. PayPal serves as an electronic alternative to traditional paper methods such as checks and money orders.
Currently, PayPal operates in 190 markets, and it manages over 184 million accounts (More than 73 million active accounts). PayPal allows customers to send, receive, and hold funds in 19 currencies worldwide. These currencies are the Australian dollar, Canadian dollar, Chinese renminbi yuan (only available for some Chinese accounts, see below), euro, pound sterling, Japanese yen, Czech koruna, Danish krone, Hong Kong dollar, Hungarian forint, Israeli new sheqel, Mexican peso, New Zealand dollar, Norwegian krone, Polish zloty, Singapore dollar, Swedish krona, Swiss franc and U.S. dollar. PayPal operates locally in 13 countries.
Today it’s consider as the DE-FACTO (proclaimed STANDARD) for transferring money ONLINE.
REASONS WHY YOU SHOULD USE PAYPAL
Majority of websites prefer paypal for money transferring
Well-established sites connect through paypal, as a medium for selling products to certain individuals. These websites don’t even have money-transferring system embedded in their website. They just rely on paypal for e-commerce.
Ebay doesn’t accept any money-transferring site other than paypal
Ever dream of building your own online business with Ebay? Well if the answer is YES, then it’s time you trust paypal, because you are required to use it once you become a member on Ebay. The only choice you got on this one is to join or not to join.
SECURITY
Meaning there’s no major report of a credit card account being EXPLOITED with the use of paypal.
You can file a dispute or a trackback
What is a DISPUTE? If the buyer didn’t received a product in a specific duration of time, that person can file a dispute and the money will be return 100%. For sellers, they can file a TRACKBACK meaning when someone filed a dispute against them. Sellers can send a proof (something like a certificate, transfer code, proof of transfer etc.) authenticating a product transaction on their behalf. TRACKBACKS are USED to protect SELLERS from ABUSIVE buyers, so as DISPUTE protecting the BUYERS from the former. In case you ask who will be the JUDGE? well it’s non-other than PAYPAL employees. So you really need to call them!
Transform your website to an e-commerce site with the use of simple HTML codes
Want some donation link inside your blog? Or, how about an instant e-commerce in your site? Well now you can! Just insert a PRE-GENERATED HTML CODE from your paypal account to your website. And voila! once a user clicked that link, that person will be automatically transferred to paypal gateway to pay on your account you have chosen.
Other security features for geeks alike
Paypal uses a 128 bit SSL security encryption. So you want to know how secure is a 128 bit SSL security? see this example:
A 2 bit means 2 raise to the power of 2 so meaning to crack it you need to GENERATE at least 4 combination sounds easy to hack right? well if it’s 128 bit it means 2 raise to the power of 128 which is equal to an estimation of 339 TRILLION combinations. How’s that TOUGH guy?
Also, paypal uses VERISIGN. Today, verisign is the standard seal for VERIFYING the security of a certain WEBSITE. Verisign’s sole purpose is to SCREEN-OUT hackers everyday who DESPERATELY try and exploit weak databases for their own personal gain.
Paypal has the lowest fees for transactions
Other money-transferring websites competing with paypal have unreasonable transaction fee for each transfer their clients commit. I guess common sense will tell you that they are doing these because they are not POPULAR as PAYPAL.
WITHDRAW, DEPOSIT TO YOUR BANK, MAKE A TRANSACTION ANYTIME
I guess this one is self-explanatory already 
Paypal offers good discount to major brands
Want a Dell Laptop with a 20% Discount? or How about a Nike shox for 30-40% Discount? I don’t know ’bout you, but I think this kind of offer is SWEET 
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153 million accounts worldwide and availabe in 190 countries
Millions of people are joining paypal. I bet the quality of the service paypal provide is unmatchable on their league. 
Now, for those anti-paypal protagonist who wants to see a different view about paypal. Please check page 2 of this post below.
Pages: 1 2
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August 7th, 2009 at 3:09 am
sir, first time that I see this blog. Would like to ask if you have used alertpay before?
August 7th, 2009 at 3:48 am
yep, actually cya ung sinasabi kong “alternative” if you read my post. but so far, the gap is still big when you compare alertpay to BIG PAYPAL.
January 2nd, 2010 at 9:29 am
2 to the 128th power is waaaay bigger than 388 trillion.
March 27th, 2010 at 2:44 am
I like your random, unsourced quotes. Lends the article a good feel.
For a nice alternative, try http://www.merchantinc.com/
It just works directly with your own account, unlike PayPal, which not only holds your money for you, but is not held any standard bank rules.
Check out some horror stories here: http://www.paypalsucks.com/
And, as Mike said, 2 to the 128th power is nowhere near 388 trillion, or 3.88*10^14.
2 to the 128th power is roughly 3.4 x 10^38. You're off by a factor of 876 sextillion.