Home Business Insights & Advice Five reasons why PayPal is the perfect choice for a variety of online payments

Five reasons why PayPal is the perfect choice for a variety of online payments

by John Saunders
29th Dec 20 3:31 pm

A lot of establishments in the bustling London entertainment scene have online counterparts, and this has led to a rise in alternative payment methods like PayPal. One of the biggest contributors to the growth of this modern way of paying has been thanks to the growing bingo scene, a pastime that has a long and rich history in the capital. In addition to gaming, PayPal is a safe and secure option for retail and travel purchases.

It’s fast

One of the first things that many people notice when they start to turn to online transactions is that a lot of businesses will offer a range of payment methods. This includes options like Apple Pay and, of course, PayPal. This is particularly prevalent in the retail industry, where there is fierce competition online. When consumers need to bid for items at sites like ASOS, Misguided, and eBay, it makes sense to choose a payment method that can be much quicker than waiting for a bank to process a payment. Otherwise, there is the risk of missing out on a purchase.

It’s secure

Online fraud, unfortunately, is on the increase so it’s important to do everything possible to stay safe online. Luckily for PayPal users, they have a tried and trusted system to keep hackers out and this includes state-of-the-art encryption technology. They take security so seriously that in 2007 PayPal even acquired the Israeli-owned business Fraud Sciences to have in-house access to the very best advice and protection possible.

So, even though users’ bank details may be stored by PayPal, they will never fall into the wrong hands. With this in mind, Sue Dawson from WDW Bingo explains that: “Paypal is really popular with online bingo players, especially those who are using their phones to play.  It’s so much safer and easier than having to enter card details.”

It’s confidential

An important part of staying secure online is to reveal as little personal information as possible. If a user only needs to let an online business know their PayPal account details, it means that they can keep their identity confidential. It also means that transactions between the consumer and the site are private, with banks and card companies having no access to them at all.

It’s fee-free

Anyone using PayPal can be confident that their transactions won’t simply be fast; there will be no bank charges to pay. The only exception to this may be on occasions when withdrawals are made from an online gaming account to a credit card account, as some issuers may well make a charge for this.

It’s trusted

Last, but by no means least, research has shown that PayPal is the world’s most trusted financial services company, ahead of even Mastercard and Visa as well as the world’s major banks. This means it can be used for more expensive purchases as well as the everyday things. For instances, a number of travel companies including Ryanair and British Airways now accept PayPal payments for their flights.

PayPal has become one of the industry leaders in the financial services industry in a short space of time, and it is only going to get bigger. Because the adoption in London is on the increase, residents in the city need to get accustomed to using it. There are numerous advantages to switching to this payment system.

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