PayPal is a payment system for online billing where virtual money is transferred. In this system
, the buyer and merchant have an account with PayPal. The account of the buyer is managed by transfers from his own current account as a credit account, or when depositing the credit card account as a credit account. For transfers, PayPal retrieves amounts due from this account and transfers them to the merch
ant's account. Themoney is transferred from the merchant's account to the merchant's current account via bank transfer.
PayPal appears during the payment process by displaying a PayPal window in which the online customer enters his PayPal account data. The transaction is confirmed to the customer by PayPal, at the same time PayPal gives feedback to the online shop, which can use this feedback to transfer the goods or services. An alternative for paying on the internet is the virtual currency Bitcoin.