Knowledgebase: Shop Module
What is PayPal?
Posted by on 21 December 2010 03:34 PM

What is PayPal?

PayPal is a method for sending and receiving money via the Internet. It has the longest and best track record for secure financial transactions and has a close relationship to the well known E-Bay auction services. Opening a PayPal account is simple and, once opened, the account is ready to take payments from your website. All transactions are completely secure and PayPal accepts all major credit cards. All that is necessary to take payments is the email address used to setup the PayPal account. When a customer goes to make a payment, NE1 automatically takes that customer to the PayPal checkout. Money is transferred to your PayPal account (minus a small percentage for PayPal) and a record of the transaction becomes available through your PayPal reports. A Paypal business account is free to sign-up, however, there is a fee for processing orders, usually around 3%