PayPal

Definition

PayPal is an online payment system that enables users to securely transfer money and make payments over the Internet without sharing financial details directly with merchants. It acts as an intermediary service between individuals and businesses, facilitating transactions through its platform.

Related terms

E: commerce - The buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions.

Digital Wallet:

A digital system that stores users' payment information for various payment methods and websites, allowing users to make transactions quickly without entering their details each time.

Encryption:

The process of converting information or data into a code, especially to prevent unauthorized access, ensuring that sensitive information such as financial transactions are secure during transmission