One of the most widely used payments apps, Paypal is an easy-to-use application that allows you to transfer and receive money, both locally, as well as globally. Usually, online buyers who engage in international transactions, prefer PayPal, as it allows users to link their credit and debit cards to their PayPal account. Given the popularity of the application, many are curious to know more about the app and its features. Explained below are some key aspects of PayPal, including information on how to split payments on Paypal.
What is PayPal?
PayPal is an extremely convenient payment app that offers several wonderful features to users. PayPal has simplified the payment process for customers. You can easily use it to pay for your purchases or transfer money to family and friends, without any hassles.
Increasingly, more and more businesses have adopted PayPal as one of the payment channels that are supported by their websites and e-commerce portals. This means a wide array of goods and services can be easily purchased online, by using the PayPal app or web browser. By learning how to split payments on PayPal, you would be able to make the most of this payment service.
How does PayPal work?
In order to proceed with transactions on PayPal, you would have to create an account on the app. The setting up of the account can be done both via the app, as well as via a web browser.
Once you have created an account on PayPal, you would be able to easily transfer and receive money from anyone, whether it is an online vendor, a friend, relative, or a family member. However, to conduct transactions via PayPal, you would require any of the below-mentioned details:
- Your username on PayPal
- Your Mobile phone number
- Your Email address
- Your PayPal.Me link (your personal payment link)
- Your Personal QR code
Highlights of using PayPal
- PayPal provides secure methods of transferring money with PayPal.Me link and QR functionality. Both of these methods are designed to limit the risks involved in the process, particularly if mistakenly, there are some errors made while typing payment information. These methods require just a click or scan, and therefore, the possibility for mistyping is reduced.
- With the PayPal app, you can keep an eye on your expenditure.
- PayPal also allows you to split payments and bills with other people. More information about how to split a payment on PayPal is provided below.
- To access certain functions of PayPal, you would be required to pay a fee.
- The app has a very simplified user interface, and therefore, irrespective of whether you are tech-savvy or not, you can easily operate the app.
- PayPal can be operated on both iOS and Android devices(mobiles and tablets).
- PayPal is one of the most globally used payment applications as it is available in more than 200 countries around the globe. Even though international payments require you to submit a fee, PayPal enables you to regularly conduct international money transactions, without any difficulties.
- When you are using PayPal, you can easily keep several different currencies in your account. You can proceed to transfer or receive payments in other currencies. Furthermore, you can even switch your PayPal balance into another currency, so that you can make payment in that particular currency by using that account balance.
- PayPal provides several different ways of making payments. This includes:
- Transfer of funds through your bank account
- Payment through debit card
- Payment through credit card
- Payment using PayPal account balance
Note: Processing Fee is applicable on payment methods such as credit cards.
How to split payments on PayPal?
PayPal comes with a special feature that allows users to split their bills. This feature is known as the Money Pool. By using this feature, you can accumulate or obtain money from several of your friends, and pay for a certain shared expense like a restaurant bill, whenever you are hanging out with them. You can also collect donations from people using this feature and then proceed to donate the accumulated amount.
By learning how to split a payment on PayPal, you can easily distribute the payment share between your friends, whenever you hang out with them and incur expenses such as restaurant or bar bills. Provided below is the essential information on how to split payments on PayPal.
There are, basically, two methods of splitting payments on PayPal between groups of people, these are:
- Bill Split
- Partner Bill Split
How to split a payment on PayPal using Bill Split:
- Select “send and request”. This option is provided at the top of the page.
- After that, you should select the option of “Request”. Once you have clicked, enter the name of the person with whom you want to share the payment. You will also have to enter the share of the payment amount that the person would have to pay.
- Once you have done that, PayPal will generate a money request for every person that you have selected for bill split.
- Users can utilize Bill Split on both payments that he/she has already made, and the payments that are still outstanding.
- Whenever the option of splitting a bill is available, it would appear in your activity. If you notice “Split this” in your activity, you can click on it to use the Bill Split feature for that particular transaction.
How to split a payment on PayPal using Partner Bill Split:
Before you learn how to split payments on PayPal using Partner Bill Split, do note that this option is only available on certain websites, such as Fandango.com. Below are the steps for using Partner Bill Split:
- As soon as you finish the checkout, you can select the option-”Split with PayPal”. You will be able to log in to your PayPal account.
- After selecting the button, enter the email address of the people you are splitting the bill with and tap “next”.
- You would be able to once again review the bill split so you can check and correct if you have made any mistakes.
- After reviewing, you can select “Request Money”.
- The confirmation page would display the money that you have requested from friends.
- Every one of the people that you have selected, would receive an email that would contain a Pay Now option. They can pay you easily, just by clicking the “Pay Now” button.
Hopefully, the above steps have clarified your doubts and you have learned how to split payments on PayPal. Being one of the most popular payment apps out there, PayPal is making it easier for everyone to transfer and receive money online.