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PayPal Review: All about PayPal and its pros and cons

Whether as a business or an individual, you have definitely heard the name PayPal in the world of finance. As one of the most trusted online payment solutions, many businesses offer PayPal as a payment method on their websites to encourage sales. If you want to know all about this popular payment system and how it works, follow the rest of this article.

PayPal Review: All about PayPal and its pros and cons
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PayPal offers easy and reliable payment services for both online and in-person sales, but not all businesses are compatible with its features. This guide is everything you need to know about PayPal, how it works, its security and most importantly pros and cons

What is PayPal and how does it work?

PayPal is perhaps the world’s largest and most well-known payment platform, website and a phone app that enables payments between parties through online money transfers, with thousands of users including small and large retailers world-wide. 

Merchants who accept PayPal will accept PayPal cards in their online or brick-and-mortar stores for their customers to be able to easily pay them without the hassles of carrying or paying with cash. 

However, the verification process that comes with PayPal may appear overwhelming to many since PayPal is quite sensitive about whether the person who is using the account is the rightful owner or not before they can use the service. 

More than that, building a PayPal account and using it will require you to provide an email address, credit card, debit card, or bank account to complete the setup. In case of speed, PayPal transactions are done in a matter of minutes and to where the customer desires, for example to their bank account

Is PayPal safe?

PayPal is generally considered a safe option since it hires end-to-end encryption and two-factor authentication for secure transactions. However, the large community of PayPal users makes it a good platform for scammers world-wide. Therefore, to further protect your funds, you need to be fully aware not to share your private data with anyone. It is still worth mentioning that PayPal will keep an eye on transactions 24/7 and will alert you if it notices a suspicious login or purchase from your account.

See also: What is a paypal invoice and how does it work?

PayPal fees

If you use PayPal to pay for a transaction, using your balance or your linked bank account and the payment is in your home currency, you won’t need to pay any fees. Likewise, no fees are included for sending cash to a friend or relative rather than a business, again in your home currency. 

Another sector in which you are not charged with any fees is when you transfer money to and from PayPal and your bank account. Other than these, you are charged with a  4% currency conversion fee for most of your PayPal transactions and 2,9% plus a fixed fee for your linked to credit card transactions

Want to verify your PayPal account? Visit: How to verify a PayPal account? 

Pros and cons of PayPal 

Pros of using PayPal:

  • The first and foremost advantage of PayPal is that it provides safe and secure means of transferring money and sending payments.
  • PayPal offers diverse financing options for merchants to be able to easily integrate their desired payment solutions and bring to their online store. 
  • PayPal offers both in person and online payment solutions so that no one is left out. 
  • strong merchant support features for its users to better make use of the system. 

Cons of using PayPal: 

  • Due to its large user base, PayPal is a popular target for phishing and scams.
  • There have been many complaints and reports for PayPal’s poor customer service. 
  • PayPal refunds are delayed in most cases and disputes can delay them furthermore. 

Security of PayPal 

According to PayPal, they monitor every transaction 24/7 to help prevent fraud, email phishing and identity theft. “Every transaction is heavily guarded behind our next-level encryption.” says PayPal. 

 If something seems suspicious, PayPal's security specialists team will immediately take care of it to help protect you from fraudulent transactions. PayPal will never ask for any sensitive information from you in an email, so make sure not to share anything outside of what the official PayPal website asks you to. 

PayPal customer support 

The  general issues you might face with PayPal and even transaction disputes can likely be solved through PayPal's Help Center, Community Forums and Resolution Center. To access these features, you'll need to log in your PayPal account. 

By creating a ticket, you can report all PayPal issues and wait for an answer through your email. However, users have been constantly complaining about PayPal customer support and it’s being poor and the team not being responsive enough

Looking for an alternative to PayPal? Visit: PayPal alternatives


PayPal is one of the most popular and widely known payment systems and exchanges across the world. The competitive fees and the reliability of operations make it a good choice for thousands of individuals across the world. If you have chosen PayPal as your payment processor you’ll definitely be in need of a reputable and secure payment processor to bring you the best platforms for your money conversions. Next, it is the convenience that matters to users the most and when it comes to convenience there comes fees

Finding the best service with the best rates is not an easy job, but we recommend you one of the best exchange platforms with the best rates and lowest fees. Using PayPax, you no longer have to leak money on poor rates and high fees. On PayPax everything is clear cut and there are no third parties or banks involved. On PayPax you can simply:

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