All Paypal users want to be able to make their purchases from any store online, and what is more important, they want their purchases to be quick, simple, and hassle-free. So the need to have a product that meets the needs of users is crucial. Let us know ‘What Is The PayPal key?’.
It was with this in mind that it was decided to create the Paypal key. It is a product that works as a virtual card in any store that can accept a MasterCard. It has 16 digits and you can also use your mobile device to make purchases with it.
How can you make your purchases with the Paypal key?
Step 1
As expected, the first thing you should do is register to start shopping. Then you go to the shopping cart and click where it says “Proceed to payment”.
Step 2
When doing so, you will be asked for the payment method you want to use, and you will choose the option “Add a credit or debit card”. If you want to obtain the Paypal key, you only need the app or you can also use the browser.
Step 3
Now it’s time to enter your 16-digit password in the “Card number” section. Also, enter your name on the card along with the appropriate expiration date for your Paypal key.
Step 4
The last step is just to add the card and then make your purchases. Do not forget that these insurance steps coincide with that of other online stores. You will only need the card number, either debit or credit, and enter your Paypal key
As you can see, the procedure is quite simple and safe, and it also won’t take you long.
Recommendations to use your Paypal key
Remember that your Paypal key is a representation of your Paypal wallet. This means that you can place it as a payment method in your bank account.
As MasterCard was the one who developed it, then you can use it only where MasterCard is accepted. This way, when you receive your MasterCard receipts, you will also see the purchases you made with your Paypal key.
If you will have any kind of problem with your Paypal key, do not forget that you can go to the resolution center and make a report of it.
Benefits of creating
1. You can use it to pay in certain stores with the money you have in your PayPal account.
2. Your data will not be shared with anyone.
3. As it is virtual, it will not occupy physical space of any kind.
4. Nor can it be lost or stolen by friends of others.
5. You access the points programs without problems.
6. The operations carried out are protected by the Paypal Purchase Protection.
7. In the places where you cannot buy with Paypal, the Paypal key if it allowed you to do so.
8. If you want to change the payment method, you can do it without any problem.
Disadvantages
• It is only available for some Paypal clients and specifically in the United States.
• It has certain limitations regarding its use with cards such as Apple pay, Samsung pay, or American Express.
Payment alternatives to the Paypal Key
Here I mention the most recognized alternatives: Amazon Pay, Google Pay, WePay, Payoneer, FastSpring, Bolt, PaySimple, and Stripe, among others.
Now, if we talk about making international payments. BlueSnap, Stripe, and 2Checkout are the best that we recommend for you.
On the subject of security, Bolt, Shopify Payments, and FastSpring are the most recommended due to the security options they provide to their users.
If we refer to the cost of fees, Payline offers you a rate of 2.25%, one of the lowest in the market. Another option is FastSpring which can offer you fixed costs.
Does it have any cost?
The answer is no, it’s completely free and you won’t be charged maintenance fees either. They also do not charge you to register or use it within the United States. But if you use it to market outside the country, there will be a cost of 1.1% to carry out the operation.
Top up your Paypal key
First of all, you should know that your Paypal key is not a prepaid card where you can deposit money unlimitedly. The card is linked to your Paypal account and the payment methods associated with it.
The time it takes to obtain your Paypal key
After filling out the application form you will be able to access it immediately. You will receive a notification with the payment information and from now on you can use it.
Paypal key suspension
The Paypal key was officially suspended on April 20, 2022. The reason for the suspension was to focus on the credit card and make improvements to other services. So, any operation you carry out after this date will be denied.
Conclusion
It was designed to facilitate any purchasing operation that Paypal users would like to carry out virtually. Its use was quite simple, fast, and effective. Users could not lose it or be stolen and it did not take up physical space in anyone’s wallet. But it had its drawbacks like it wasn’t available to everyone. Only for users within the United States, until it was discontinued in April of this year.
Frequent questions
1. Can I buy in person with a Paypal key?
You can’t because it’s a virtual card and not a physical one.
2. Can I get several Paypal keys?
Yes, but only if you have several Paypal accounts since you can only have one Paypal key per account.
3. Is the PayPal key available for all countries?
No, it was only issued for use in the United States until its discontinuation date on April 20, 2022.
4. What rewards did the use of the Paypal key give you?
If you have chosen your credit card as payment support for the Paypal key if you could earn points by making purchases with it. What’s more, you could get 5% cash back on that purchase.
