If you own a business or are thinking about starting one, you've probably heard of PayPal. You may have used it as a customer a few times as well. However, now that you're in business, you might be curious about what the well-known platform has to offer in terms of payment options. For more than a decade, PayPal has been involved in electronic payments.
It's an online banking service that allows you to pay for items using a secure online account. Simply enter your bank account, credit card, or debit card information, and choose which of your cards or accounts PayPal should use when making payment. PayPal can be used to not only pay for items but also to obtain money. Your earnings are saved in your PayPal account and can be used to make purchases.
If you're new to payment gateways, here are some of their most popular features and capabilities:
- They enable payment for goods and services both online and in person.
- They facilitate the sending and receiving of money.
- They provide a number of digital security and payment security options.
- They charge a variable or fixed fee for their services, or a combination of the two.
Why do businesses and individuals in UAE use PayPal?
Although many online payment services are available these days, including Stripe, Square, Visa Checkout, Masterpass, 2Checkout, Apple Pay, and Google Pay, PayPal has a few advantages that others do not. To begin with, it is well-known and widely accepted due to its age, even among smaller retailers. PayPal is a payment option on thousands of websites, including those that do not accept Apple Pay or other digital financial services. Its consumer security features can also ensure that you receive a refund if an online purchase does not arrive or does not match the seller's description. This is especially helpful when purchasing items on eBay, where shop guarantees are not always available.
How to open a PayPal account in UAE?
It is simple to open a PayPal account.
- Go to PayPal.com and select the Sign-up option.
- You'll be asked whether you want to create a personal or business account before proceeding. But remember to bring your bank, credit, or debit card information.
- Enter the credit and debit card information from your bank. You will be able to submit and receive payments from other banks if you open a PayPal account in the UAE. You can also transfer funds from your PayPal account to a UAE bank account or a credit or debit card.
- You must provide information from your national ID card in order to open a PayPal account in the UAE. Following that, confirm your email address, and you will receive a confirmation email from PayPal.
- The next step is to add a bank account, which will be used to deposit and withdraw funds.
- Choose the intent code from the list. Select the reason for which you wish to receive payments on your PayPal account.
How to Withdraw Money from Your PayPal Account in UAE?
Following the allocation of funds to your PayPal account, the next step is to withdraw them. Simply follow the instructions, and you will be able to withdraw funds from your PayPal account in the UAE with ease.
- Look for the option to 'Transfer to your bank account,' which should be just below the PayPal balance.
- Choose your bank account and then click Next.
- Next, enter the number to be deleted and click the Next button.
Finally, review the transfer and press the Transfer Now button.
When withdrawing funds from your PayPal account in the UAE, keep the following in mind:
- You will not be able to revoke a withdrawal request if you have already requested one.
- The minimum amount that can be transferred to another bank's account is AED 41.74.
- Don't worry if the transaction takes up to 3-5 business days.
- You will not be able to withdraw money using a debit, credit, or prepaid card.
PayPal has Android and iOS apps available on Google Play and the App Store, respectively. Customers use the PayPal app to send, receive, and access their money in a secure manner. You must, of course, have a PayPal account to use the app.
How to Get PayPal Card in UAE
A lot of people are asking this question: Does PayPal have a debit or Credit Card in UAE? The Answer is No! PayPal as of July 2022, does not have direct or credit card in UAE. However, you can connect your VISA or Mastercard debit or credit card to PayPal and shop with it anywhere in UAE. Once PayPal Card is available in UAE, you will be able to get it from major malls in Dubai, Abu Dhabi and all over UAE.