Teentrepreneur.com: Another problem that you will encounter as a young entrepreneur is the process of sending and receiving money online. Standard payment methods such as cheques, postal orders or cash just wont be good enough today in a world of speed. What happens if you need a website designer to do a job in 1 day? You won’t be able to send a cheque as it would take up to 14 days. This is where online money comes into play and this is what Ill be talking about in this article
When eBay was launched in September 1995 there was a great need for a new, innovative service that would allow buyers and sellers to send and receive payment easily and quickly. So many people use credit cards in shops that it would have been silly to not allow them to use them online. Thus Paypal and similar sites such as WorldPay and Nochex were born!
The idea behind a site such as Paypal is very simple. All you do is create an account and link the account to your main bank or credit card account. Therefore when you want to buy something, you can use funds from your bank account, and when you want to receive payment, other people can send you money using their credit card.
How To Pay and Receive Money Online [Teentrepreneur.com]
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