What is PayPal? Everything about Paypal for Iranians

PayPal Or P. Paulone of the largest systems online payment It is the world and unfortunately we Iranians cannot use its services so easily. Transferring and receiving money from all over the world, making international transactions, online purchases, etc. are among the uses of PayPal.

Now PayPal is over 200 The country provides services and almost 90% International stores Directly Buy did Receiving and sending money is one of the other features of this payment system. But these cases are only a small part of the question What is PayPal? are considered In the following, we will review the nuances of this payment system together.

What is PayPal?

PayPal Or PayPalOne Online payment system that allows you to be anywhere in the world instant money and with Low fee Or Free Transfer and receive money from others. PayPal The most popular payment system It is in the world and you can do it International bank account Connect yourself to PayPal to benefit from its services more easily.

Max Levchin, Peter Theil And Luke Nosek A company called Fieldlink in the year 1998 created which was later called Coinfinity and Year 2000 It was renamed as part of a PayPal integration.

security, keep Privacy And Speed The top of PayPal has caused this network the most used Method Internet payment be in the world Unfortunately, the door is closed Iran It does not provide services, and people who have Iranian citizenship cannot benefit from its services; However, there are ways to use PayPal in Iran.

The correct pronunciation of the term “PayPal” is PayPal, but most Persian speakers use the pronunciation of PayPal to facilitate speech.

History of PayPal

The PayPal story of 1998 and creating a company Fieldlink Starts. Luchin, Thiel and Nosek establish this company and shortly after the name of this company to Kevin Finity they change At this stage, the main activity of Coin Finity is in the domain Smart wallets Was.

In March 2000, Kevin Finity with Company X dotcom (X.com) that by Elon Musk and 3 others were established, it will be merged. After many ups and downs, finally in 2001 and when Thiel was the CEO of Kevin Finity, the name of this company was changed to PayPal and with PYPL symbol enters the stock market.

At October 2002big company eBay It buys about 70% of PayPal and practically owns it. After this purchase, PayPal is the main payment method of the eBay site and many famous sites such as yahoo And Google Becomes. eBay also finally decided in 2014 Selling PayPal shares and currently the shares of this company can be traded on the stock exchange.

How does PayPal work?

In other words, it can be said that PayPal is like a wallet It works, with the difference that it provides you with many possibilities. As soon as you top up your account, like a Payment system It will work perfectly for you and you can do it as easily as you can transactions Make your payments, send and receive money, and complete your online purchases using PayPal portals.

PayPal mechanism is very simple. If you are a user residing abroad, just create a free account on the PayPal.com website and then link your PayPal account to your bank or credit card to verify your account. You can also top up your account through intermediary websites apart from the bank.

Unlike interbank transactions, PayPal transactions are done in an integrated manner and through its own system; That is why your transaction is completed and your account balance changes in a fraction of a second.

What is the PayPal fee?

In general, PayPal charges a personal international transaction fee of 5% with a minimum of 99 cents and a maximum of $4.99. However, PayPal's fee calculation system is very complicated. This system has its own fee system for each currency, each type of transaction and each geographical area.

In PayPal, transaction fees are generally deducted from the payer; That is, if you send 100 dollars of money through an international transfer, in the end, 96.02 dollars will reach the recipient. Of course, this fee can be adjusted through the PayPal panel. PayPal charges a separate fee rate for business transactions and amounts above their threshold, which will be displayed to you during the transaction.

Types of PayPal accounts

The accounts of this platform are provided to users in two forms: Personal and Business.

Personal PayPal account

PayPal Personal AccountsFor normal users And real people Designed for PayPal the payment And Get Money And they also use internet shopping. In other words, if you need a fast and reliable platform to send money abroad, these types of accounts are very suitable for you.

PayPal business account

PayPal Business Accounts They have more features than personal accounts. Possible Receive transactions with higher amounts And getting a PayPal payment gateway on your website is one of the features that business accounts provide.

Advantages and disadvantages of PayPal

PayPal benefits

• security in transaction processing;
• support for more than 26 different currencies, including dollars, pounds and euros;
• Many possibilities in both personal and business modes;
• The possibility of receiving loans for users;
• High speed in international and domestic transactions.

Disadvantages of PayPal

• Easy blocking of PayPal accounts, especially for Iranian users;
• complex fee calculation system;
• Restrictions on high-risk goods;
• The high frequency of phishing and fraud attacks;
• Very poor customer support.

Using PayPal in Iran

As we said, you cannot directly use PayPal services in Iran. That's why you have to use intermediary businesses. These businesses will create a PayPal account for you and provide you with the password and email address of the account after authentication.

PayPal has many limitations; For example, in your personal mode in the first month of use, you cannot have more than a certain amount of transactions, and if you reject this limit, you must raise your authentication level, which is not possible for Iranian users.

On the other hand, to get a PayPal business account for your business and get a PayPal portal, your risk is even higher; Because your hands are not tied anywhere, and if your account is blocked, you have to go through Haft Khan Rostam so that your account can be opened!

Why is PayPal blocked in Iran?

Iran's embargo by PayPal dates back to a long time ago. Last years, due to the sanctions of the United States, companies providing payment services were prohibited from serving Iranian users. MasterCard, Visa and PayPal were also among the providers that banned Iranian users from using their services.

On the other hand, PayPal's security system is very strong, and there is a possibility that your account will be restricted in case of IP conflict. In addition, if you intend to make physical purchases (with the ability to send to an address in Iran) using PayPal, your transaction may be limited and placed in “On-hold” mode.

What is the use of PayPal?

International money transfer

Students, expats, and even travelers traveling abroad can easily make international transactions using a PayPal account.

earn money

If you are one of those people who are interested in earning foreign currency and abroad, PayPal account can be a good option to receive your expenses and wages. PayPal is one of the most popular payment methods for freelancers. Content production, graphic work, website design and many other activities can be done “remotely”. If you have trouble getting paid for such activities, PayPal is a great option.

Internet purchases

As mentioned earlier, PayPal is supported as a payment method by many stores and businesses. By having a PayPal account and charging it, you can make your online purchases quickly. Of course, these purchases are mostly virtual and physical purchases are only possible if:

Receive a loan

PayPal also offers lending services to its users. Of course, get rid of the thought that you can get these loans in Iran! Even if you have purchased a verified PayPal account through intermediary sites, you cannot get these loans!

other facilities

PayPal also provides other facilities to its account holders. Instant issuing of invoices, donating money to charitable foundations, converting different currencies and paying by phone are among these facilities. Each of the mentioned features has a private fee rate that will be charged to the user when using it.

Personal PayPal accounts are designed for normal users and natural persons who use PayPal to pay and receive money as well as make online purchases. In other words, if you need a fast and reliable platform to send money abroad, these types of accounts are very suitable for you.

Frequently asked questions