PayPal offers businesses and consumers alike the ability to accept and make payments for goods and services as well as deposit checks without needing to go to the bank. If you are in the US the advantages of using PayPal are even better owing to the fact that you can send money to family and friends for free.
While you can manage your account from the website, PayPal mobile apps offer a greater level of convenience as well as features that the website doesn’t offer such as the ability to accept and make payments by touching a mobile device to a NFC enabled payment device.
Android PayPal App – For Consumers
Here is a free, secure and convenient way to send money to your friends as a gift or funds to a merchant to pay for goods and services – it is also ideal for managing your PayPal account and it certainly more convenient than going to the bank to send funds to someone or depositing a check to yourself.
Common Uses of Paypal
- Send money as a gift, split the bill, or repay a friend
- Deposit a check to your PayPal account by photographing the check with the app
- Check your balance, withdraw money, or view past transactions at anytime
- Request Money with an NFC-enabled phone
- Use the PayPal local feature to find nearby businesses that accept PayPal as payment (US only)
PayPal InStore – Merchants and Consumers
PayPal Instore is a payment solution for consumers. With it you can make in-store payments for goods and services – you can also use it at some vending machines as well with your mobile. PayPal Instore is built on NFC technology, which allows you to pay by simply swiping your mobile over the payment terminal and confirm the payment – for purchases from vending machines; you can send money directly to the machine from your mobile.
PayPal Instore is a part of the company’s push to serve small businesses by helping them attract customers who have PayPal accounts. PayPal Instore complements the PayPal Here solution, which is a mobile payment solution for merchants that includes a free app and a thumb-sized card reader for your smartphone and lets merchants accept multiple forms of payments from wherever the business is located.
Security Concerns?
I, like many other consumers have been apprehensive about making my monetary accounts accessible from a mobile device, but there are security features built into PayPal’s mobile apps. For one, NFC requires that only works within a distance of 4cm or less, so there is little hope of someone trying to hack your device from across the room.
PayPal has over 100 millions customers, which testifies to just how useful many of those users find the service. I too have used the service for years and I have never had a problem with them. I have sent and receive many payments without and issue neither have I had a problem getting my money in a timely manner when I make a withdrawal.
Some transactions do attract a fee, but they are generally on par with what you are charged by other services. If you are in the US, many, if not all your transaction could be free. On the Merchant side the 1% cash back means you could end up paying less in merchant fees as well.
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