Paypal In Nepal: – Paypal is the leading and trusted online payment services across the globe. The demand for PayPal is increasing day by day. We can send and receive money via PayPal at any time and everywhere all around the world. But the problem may arise when it comes to Paypal verification.
Some Asian countries including Nepal still can’t verify their PayPal account. As we know here in Nepal, millions of Paypal users are searching for its solution. Before we can verify PayPal using Payoneer MasterCard. But now Paypal no longer works with Payoneer.
By this, we Nepali PayPal users are facing more PayPal verification problem. In this tutorial, I’m going to give you some working tips to verify your PayPal account.
Table of Contents
Everything You Want to Know About Paypal Account & Services In Nepal
What is PayPal?
PayPal is an online payment system that supports online money transfers between PayPal users, which simplifies sending and receiving money online anywhere.
PayPal is an American company that operates as a payment gateway for people who work online, suppliers, e-commerce sites and others who charge a small commission for a successful transaction.
Whenever online money transactions are needed, people’s first choice is PayPal because it’s safe for every transaction.
PayPal in Nepal
Speaking for Nepal, PayPal is not compatible with our country. Sad to say, but reality is reality. There are many different reasons why he was blocked or unsupported in Nepal.
The policies of Nepal Rastra Bank are one of the main reasons and you can guess, because we know how things are going here in Nepal. It is difficult for people who work online and have to send and receive money online.
Many people work online to earn money and face a problem where their money is blocked, people cannot claim it because of an inadequate banking identity. What are people doing to solve this problem?
Where there is a problem there is a solution unless it is a crime. You can always choose alternative ways of doing things.
PayPal is a simple website which helps people to purchase and get money online. It helps in making the online transactions easier. PayPal was established in 1998 in the month of December. Max Levchin, Luke Nosek, Ken Howery and Peter Thiel were the founder of this site. So here we discuss All PayPal in Nepal.
This website began to start a money transfer service at confinity from 1999. Later in the year 2000, confinity got combined with an online banking company called “X.com” which was founded by Elon Musk.
In the same year, the CEO of X.com Company and the founder Musk had a conflict regarding the company, as a result, Harris left the company. After the 4 months of conflict, Musk decided to discontinue other Internet Banking operations of X.com and decided to clearly focus on PayPal money service. Later, the company “X.com” was renamed “PayPal”. The headquarter of this company is located in North San Jose Innovation, California.
Currently, PayPal has about 218 million active registered accounts and runs in 202 markets. The major services of PayPal are it allows the users to make the financial transactions online by giving them the capacity to both the businesses and individuals to transfer funds electronically.
A person having a PayPal account can receive and send money for online action on websites like eBay, or donate money or receive money, purchase or sell goods and services. The best part is it is not even compulsory to have a PayPal account to use some limited services.
PayPal Company hasn’t allowed making PayPal account all the countries. There are certain numbers of countries that come on PayPal’s list of allowed countries and Nepal is one of them. Only limited numbers of countries which are on the company’s list are allowed to open a PayPal account.
Once they create the account, they can start the online transactions like sending money, receiving payments, purchasing goods and services through their account. There are certain rules before you create a PayPal account.
Number one is a person should at least be 18 years old to have a PayPal account which means the people with lower age cannot make the verified PayPal account.
It’s not that there are no any services for young age people, PayPal Company has student account as well but with only limited features for them. One should be at least 13 years to hold a student PayPal account.
Taking about the PayPal service in Nepal, people here in Nepal cannot make a new verified PayPal account. They have a very few ways to hold the verified account. They can use the verified PayPal account in Nepal by the following procedure.
First, they have to get verified account from United State which can be done only if any of their trustable friends or relatives lives there. In case if a person has a trustable friend living in the united states then that specific friend have to create another student account in the name of his/ her children.
Then that person can give his information in the name of his friend’s child. In this way, one can have a verified PayPal account by living here in Nepal. This verified PayPal can be used for all kind of online transaction i.e. from hotel booking to Shopping and many other things.
For PayPal users in Nepal, certain limitations are set by the policymakers of Nepal Rastra Bank. The limitations are Nepali PayPal users can only send money or buy online, however they cannot receive money.
It means the PayPal users in Nepal cannot accept the money from others, all they can do is buy and spent the money. Another limitation is MasterCard and visa card issued by local banks doesn’t work in PayPal.
The reason for this is because of the policy of Nepal Rastra Bank. Since Nepal is economically weak and developing country, it is annual income is very low as compared with the expenses.
There is a huge difference in between the expenses and income of Nepal. Nepal imports almost 80% of basic needs from other countries whereas the export is very low. So in order to control the outflow of money from Nepal, Nepal Rastra Bank has blocked the international Payments.
The users can use PayPal to pay for an online purchase instead of using credit/debit cards or COD. But this can be done only with the few merchants. It is because PayPal is not accepted by all online merchants. The working Procedure of PayPal is the account of PayPal has an email address and a password associated with it.
The users can the email address and passwords to authorize a payment. It is used for both physical and digital items. Here in Nepal, people mostly use PayPal service to recharge NTC, NCELL, UTL, and ADSL.
There is a specific procedure for it i.e. visiting the site “OnlineRechargeCard.com” and making payment to this site through PayPal. After the payment, the site will provide the recharge pin or make bills paid on behalf of users.
Here in Nepal, there are certain merchants that accept PayPal. One of them is an online bookstore “BetterworldBooks.com”. This is the website where we can buy old books and new books for a fair price and get it shipped for free.
Buyers can choose more than 8 million of used and new books on this site. And the best part is the site does not copy the shipping address from the buyers PayPal address details. There are many online sites like: “Bhatbhatenionline.com”, “meroshopping.com” and much more than that accept PayPal which means we can buy and pay for materials through these sites.
Talking about the People in European countries, there is a wide number of people that use PayPal account and enjoys the services. Since they are very much into technology and most of them their works are done online. In case of Nepal, where people are still unaware of PayPal services.
Many People don’t know the facts like they need PayPal for buying and selling products online, trip making, hotel booking, and enjoying other many services through the net. It is because many Nepalese people are not much into this internet world.
They are not much into this online shopping. Here people prefer to visit the shop directly rather than visiting it on different sites. It is not that no one does online transactions but they are limited in numbers. The good part is this online transaction is growing rapidly nowadays here in Nepal.
Hence, PayPal isn’t very popular here in Nepal and only limited people have a verified PayPal account. Seeing all these conditions we can say that it hasn’t been common in Nepal but can be in coming days.