Established in 1998 in California, PayPal has grown into a widely used global platform for both peer-to-peer (P2P) and business-to-business (B2B) transactions. Currently, it serves 435 million customers worldwide, enabling seamless and secure financial transactions. Additionally, PayPal offers debit and credit cards, which can be used internationally with various banks.

Creating a PayPal account is free for both personal and business users, with no initial setup charges. The company generates revenue by applying a 2.99% fee on chargebacks and transaction fees for B2B payments, which range from 1.9% to 3.49%. For users who require faster fund transfers, PayPal provides an expedited transfer service at a 1% fee.

Many users appreciate PayPal for its affordability, user-friendly design, and easy navigation, making account creation straightforward. However, one key registration requirement is providing personal details such as a phone number, which may raise privacy concerns for some individuals.

Pros and Cons of Using PayPal

With over two decades of experience, PayPal has built a solid reputation as a reliable financial platform. Its mobile app, available on both iOS and Android, ensures fast and convenient transactions.

Pros of PayPal

• No bank account is required to create an account or receive payments, though linking a bank account or debit/credit card is optional.
• Supports payments in over 100 currencies, allows withdrawals in more than 50 currencies, and enables funds to be held in over 25 currencies.
• Employs advanced encryption for data security and provides fund recovery options in cases of fraud.
• Mobile-friendly design with a simple interface for sending, receiving, and managing money efficiently.

Cons of PayPal

• The web version has fewer features compared to the mobile app.
• Standard fund transfers can take up to two business days unless the 1% fast-transfer fee is paid.
• Transaction fees can be relatively high, and customer service may sometimes be difficult to reach.

Despite its security features and user-friendly experience, PayPal’s transaction fees, potential delays, and customer support challenges may be deterrents for some users.

How to Set Up a PayPal Account

To register a PayPal account, users must provide personal details such as their full name, phone number, and residential address, which is a standard requirement for payment platforms. Below is a step-by-step guide to the process:

1. Choose an account type and select your country.
2. Provide your phone number, location, and other necessary details.
3. Receive a confirmation code via SMS.
4. Enter the code and click “Confirm” to complete the setup.

Once the process is complete, your PayPal account is ready for use, allowing for quick and secure online transactions.

Creating a PayPal Account Without a Personal Phone Number

Some users are hesitant to share personal details like phone numbers due to privacy concerns. While PayPal employs strong security measures, occasional breaches have led privacy-conscious individuals to seek alternatives for phone number verification.

One effective solution is using a PayPal account with a Cambodia Virtual number to register for PayPal without revealing your number. PVApins offers a reliable way to receive SMS online for account setup while maintaining privacy. Here’s how to use PVApins:

1. Go to PVAPins.com and create an account.

2.  Deposit funds into your PVApins account.

3.  Select the Cambodia virtual number service PayPal.
4.  Copy the virtual number provided by PVAPins.
5.  Open PayPal and begin the registration process.
6.  When prompted for a phone number, paste the virtual number from    PVAPins.
7. Wait for the verification code to arrive at your virtual number.
8.  Return to PVAPins, refresh the page, and retrieve the verification code.
9.  Enter the code into PayPal to verify your number.