Ques : What is PayPal ?

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 This is also electronic payment system in which money is transferred between the

accounts. It is analogous to net banking. To use PayPal, you have to open a PayPal
account associated to your credit card or your bank account. However, a user can pay
without giving, the credit card number during the transaction. The following is the process
of validating the account particulars:

• Customer gives PayPal account number,
• PayPal transfers small amount to the account,
• Customer confirms the payment amount,
• If correct, authentication is treated as successful, and
• PayPal sends email to both the payment sender and receiver of the

• Easy to use, and
• No Credit card is required.

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