Gone are the days when opportunities of earning money were only limited to office work;in the past one had to travel to a workplace and work there from 9 in the morning to 5 in the evening to earn livelihood. The innovations of technology have paved the way for advancements that were beyond the imagination.
The business world works on the principle where one person works for the other and in exchange, the latter pays him or her with something. In earlier times, barter trade was the monetary compensation of the day and workers were paid with food and everyday stuff. Later, paper money became the norm of the day. Now, transactions are carried out via internet without any need for paper money exchange between the parties.
Online e-commerce payments
Today, freelancers work online and their employers pay them online. This mode of payment does not involve any paper money. E-commerce payments paid online include money transfers. Cheques and money orders are also being largely used as payment methods, but beyond doubt, online e-commerce payments are the most preferred methods, both for the employees and the employers, who work at distance.
PayPal is an online e-commerce payment method that is used to send payments worldwide. All the money transfer via internet largely takes place through PayPal. PayPal started its operation at the end of 1998 and ever since it has been improving its service offerings and expanding its business. PayPal inc has a blue logo in two tones: dark blue followed by light blue.
History of PayPal
PayPal started from California (United States) in June 1998 but stared regular operations in December that year. It adheres to all US laws and interventions. In 2002, eBay acquired PayPal. Today it is operational almost all around the globe and is available in multiple languages. Since 2012, David Marcus is the president of PayPal inc.
PayPal is a huge success. Alone in 2012, this subsidiary earned around 5.6 billion US dollars. 193 countries across globe have the facility of PayPal and till date, it exceeds 143 million active users; this is way above PayPal’s competitors. Another outstanding feature of PayPal’s worldwide success is that it is available in 26 different currencies. It has the main website of www.PayPal.combut the website is available in 80 countries in local versions. In 2008, 8% of world e-commerce was conducted via PayPal. It is a USA based subsidiary so countries that appear on US economic list (and a few other countries) do not yet operate with PayPal.
Services offered by PayPal
• The world renowned service of PayPal that has made it famous around the globe is sending and receiving of payments. It eases the process of payment transfer to international clients and also funds transfer to bank accounts.
• Another significant service offered by PayPal is Student Accounts whereby parents of students deposit a fixed amount to their offspring’s accounts and the students are able to utilize that payment via debit cards or withdrawals. This was a huge innovative step by PayPal.
• After it had seen tremendous commercial success, in end 2009, PayPal became open source and let others use its source code. It was something that others did not even dream about. The objective behind this move was to allow peer-to-peer monetary operations with other similar service providers.
• PayPal labs are an amazing experimentation place where innovative projects and incredible ideas are turned into reality. PayPal labs have resulted in several successes like Facebook donations, PayPal blog, MySpace payment widgets and storefront applications among others.
• Since PayPal is a subsidiary of eBay, so whenever you sell or buy anything from eBay, you can do so with the funds available in your PayPal account. This will earn you discounts and special offers too.
PayPal in Pakistan
PayPal is not currently available in Pakistan. Although PayPal has service centers and technology centers in neighboring country India, but it is not operating in Pakistan as yet; but this does not change the fact that there is a lot of demand for services of PayPal in Pakistan as a lot of Pakistanis are collaborating with foreign markets and during the process they need to send and receive payments of PayPal in Pakistan from other countries. There are a small percentage of people who own PayPal accounts, and that too verified ones.
Create account of PayPal in Pakistan
Signing up for PayPal is totally fuss free and easy process. The best thing is that they charge money for using their services, but there are no charges for signing up to their services. Anyone from anywhere in the world can sign up from PayPal’s website; even people from countries where PayPal is not available can easily do this, like PayPal in Pakistan is not available. But the real problem lies in the fact that account of PayPal in Pakistan does not make any account active till it is verified, and the residents of the countries where their service is not available will not be able to verify the account.
Verified account of PayPal in Pakistan
A lot of people are using bypass methods to get verified accounts of PayPal in Pakistan. In order to verify your account with PayPal in Pakistan, a person needs a bank account in a foreign country (a country where PayPal is available), provide email address and a phone number of that country that can be used for verification purposes.
Sources of PayPal in Pakistan
There are four different ways of getting verified account of PayPal in Pakistan:
1. Normally the people who own account of PayPal in Pakistan are the ones who own bank accounts outside Pakistan, like the businessmen etc.
2. The second method that is commonly used is that people take favor from friends and/or family residing outside Pakistan and use their information for verifying their accounts of PayPal in Pakistan.
3. If you browse the internet for PayPal in Pakistan, you will find websites claiming that they can get you verified account of PayPal in Pakistan with complete guarantee. Some of these may be valid services, but the rest are total scam. They charge fees (variable, but normally less than $50) for verifying the accounts of PayPal in Pakistan.
4. There is a debit master card available, known as Payoneer, who provide a bypass method to verify PayPal account in Pakistan. You need to get a Payoneer Debit Master Card which is also prepaid. Once you successfully get it, the next thing is to apply for ‘US Payment service’ from this Master Card for PayPal in Pakistan. This also involves a go around method, but somehow it is workable for those who need this service.
Why use PayPal in Pakistan?
Now that you are familiar with several ways through which you can get a account of PayPal in Pakistan, some of you might be wondering why it is worth the effort, so here is the answer:
Safe and secure PayPal in Pakistan
The best thing about PayPal that makes it the preferred e-commerce payment mode all around the world is that they keep safety of their system their utmost priority. They take every care to make sure that they security and protection of PayPal accounts is not compromised.
Security of the PayPal is also evident from the fact that once you have linked your PayPal in Pakistan account with your debit or credit card, then whenever you are paying for something, you do not need to re enter the debit or credit card information. You can securely provide the PayPal account info and you are good to go!
Fast services of Pay Pal In Pakistan
Payments made through PayPal reach the destination within minimum time as compared to other services. Also the payments can be easily withdrawn to local banks as well. When you bypass entering your personal information, you can shop and pay quickly and securely.
Easy to use Pay Pal In Pakistan
PayPal in Pakistan eases your worries by letting you keep things simple with just an email account and its passwords. You can forget the hassle of remembering your lengthy numbers for cards and their secret pass codes.
Reliable Payments through Pay Pal
Payments made through PayPal are reliable and once you have completed the process carefully then you can sit back and relax and there is no need to worry about them at all. Their system is reliable and you do not hear random excuses of ‘system is down’ or ‘temporarily unavailable’ from the PayPal servers.
PayPal is acknowledged mode of e-commerce payments in almost all countries of the world. With worldwide network, you can conduct business or monetary transactions with anyone and everyone in any corner of the world.
PayPal also gives you the facility to make donations to charitable organizations, so you can also avail this opportunity with PayPal account as well.
If you have PayPal in Pakistan, it eases you of worries about expanding your business or your freelance work outside the boundaries of Pakistan. Now you can easily work for foreign employers or hire foreign employees, without worrying about how you will send or receive payments for international work.
Now you know everything that you need to know about PayPal and account of PayPal in Pakistan.