Mobile digital wallet
The PayPal Mobile Cash app is an internet-based digital wallet that allows you to add your credit card or debit card information to your personal PayPal account. The information is stored in your profile so you can use it whenever you’re ready to make a purchase online or in a brick-and-mortar store. Storing your payment details in your phone allows you to complete your transactions quickly and safely; only the app will have direct access to your bank account. To use the PayPal Mobile Cash app for Android, download it on any smartphone running Android 5.0 or newer.
What is PayPal?
PayPal is a platform for shoppers and businesses to speed up the process of making online purchases while hiding crucial financial information from merchants. As a digital payment service, it’s in charge of securing your banking information or credit card number so you can use it for future purchases. Android users, for example, can select PayPal as their preferred payment method for Google Pay Send.
The application also allows you to receive money from other users which is also known as person-to-person payment. Other ways of receiving money on the app are availing a cash advance from your credit card and receiving checks mailed to you. Once the amount has been successfully deposited to your account, you will receive a push notification immediately. Transactions associated with online payments and P2P payments are usually free.
Note that money sent to your personal PayPal account is not held as a balance. It makes up for this by allowing users to open a cash account. PayPal Cash accounts are automatically linked to your main account and will hold any money transferred to you by your bank or via check. This will serve as another channel for you to send money to non-PayPal users, make purchases, and so on.
Is PayPal safe?
Whether you use the mobile app or the website, PayPal keeps its users secure with end-to-end encryption and rigorous security updates on their data servers. They also specific terms and conditions for their users. One is the Buyer Protection program. This protects you - the buyer- when the store fails to deliver the item you already paid for. Once approved, PayPal will reverse the charges and credit it to your account.
As a preventative measure, you can complete your PayPal purchase with a credit card rather than your bank account, debit card, or PayPal balance. This is because the Buyer Protection program does not approve all cancellations so you can opt to dispute the transaction with your card issuer instead. What PayPal doesn’t have is concrete terms that protect those receiving money. The outcome will vary on how much proof you’re able to provide, and the conditions of your transaction.
Send, receive, and hold funds anywhere
PayPal for mobile offers a quick way for you to fulfill your online transactions. It’s convenient to use as your banking or card information is already stored in your profile. Purchases will only be final when you select PayPal as your mode of payment or provide your PayPal information at the store. The program itself can protect your information with point-to-point encryption and security updates; however, PayPal Holdings Inc cannot guarantee a refund for failed acquisitions or trades made online.