Paypal can be used to send & receive payments online. After signing up for a Paypal account with with an active email account, money can be send, you can choose to fund your payments from your PayPal account balance, a credit card, or your bank account. Paypal then notifies the recipient via an email about the payment made to their account from you.
Payments made through Paypal:
Buyer selects PayPal as a payment option on your website or eBay listing.
Buyer chooses to pay with a credit card, bank account, or other source.
Money is deposited into your PayPal account.
You can transfer money from your PayPal account to your bank account, or spend it online.
Purchase made through Paypal:
>> Select paypal as the payment mode during checkout on a merchant website or eBay.
>> Fund your PayPal purchase with a credit card, bank account, or other source.
>> Paypal make a secure fund transfer & the money is deposited in the merchants PayPal account.