Mobile wallets have exploded in popularity over the past decade. As more commerce moves online, digital apps enableconsumers to store payment information in one secure hub for web, in-app and even contactless checkout.
Industry leader PayPal pioneered the digital wallet concept when they released their app back in 2013. Since then, total users have swelled to a whopping 426 million worldwide as of 2021.
And consumer reception keeps growing:
| Year | New PayPal Accounts Added |
|---|---|
| 2017 | 86 million |
| 2018 | 39 million |
| 2019 | 37 million |
| 2020 | 72 million |
With one-touch payments and money transfers all in one spot, it‘s no wonder PayPal has become a favorite digital wallet for online shoppers and gig workers.
But to tap into the app‘s full potential, you need to understand how to store your preferred credit cards, debit cards, and bank accounts within your PayPal wallet. This guide will teach you how!
Why Bother Adding Cards to PayPal?
First, let‘s discuss why you should take the time to upload your payment info into your PayPal app wallet:
Convenience
PayPal pulls your stored card and bank details automatically at checkout. No more wasting time hunting down the right card to pay!
Security
Leading security protocols and fraud teams protect your payments within PayPal‘s cybervault. No more worrying about lost or stolen plastic!
Rewards Maximization
Since your funding sources all live in your PayPal wallet, you can strategically pick certain cards for certain transactions to maximize points, miles, and cash back.
Acceptance
While only some merchants welcome Amex or Discover cards, most ecommerce sites accept PayPal. So your wallet cards gain wider acceptance!
When compared to other popular payment wallet apps, PayPal comes out ahead:
| Digital Wallet App | Payment Network Acceptance | Top Security Protocols | Rewards Programs |
|---|---|---|---|
| PayPal | Universal | 256-bit encryption, 2-factor auth, AI fraud analytics | Many cards eligible |
| Apple Pay | Visa, MC, Amex, Discover | Tokenization, Face/Fingerprint ID, Data separation | Varies by card |
| Google Pay | MC, Visa, Amex, Discover | Tokenization, Fraud protection | Varies by card |
| Samsung Pay | MC, Visa, Amex, Discover | Tokenization, Samsung Knox security | Varies by card |
Now that you‘ve seen the perks of stowing cards in your PayPal wallet, let‘s run through setting up new payment methods step-by-step.
Step 1: Download the PayPal App & Log In
If you don‘t already have the PayPal app on your iPhone, Android or tablet, download it from your device‘s app store. The signup process is quick and free for personal accounts.
As soon as the app finishes installing, log into your existing PayPal account by entering your email address and password associated with your profile.
You may then receive a 6-digit security code via text or email to provide two-factor authentication. This extra login verification helps keep hackers out of PayPal accounts.
Step 2: Navigate to the Wallet Tab
Now you should see PayPal‘s main account screen. Look toward the bottom of the display for a row of tab buttons, including Home, Payments, Finances and Wallet.
Select the Wallet tab on the far right. This houses your stored payment sources ready for use when shopping online.
Within your wallet, you can:
- View payment history
- Access PayPal‘s own debit and credit cards
- Manage Direct Deposit for gig payments
- Plus link new funding sources – the subject of our how-to!
Step 3: Tap "Add Bank or Card"
Toward the top of the wallet screen you should see a few self-explanatory options like PayPal Balance, PayPal Credit, and PayPal Debit Card. Look for the button labeled:
Add bank or card
Go ahead and tap this option to start linking another payment source to your PayPal wallet.
This will launch the setup process to securely connect your financial account.
Step 4: Choose Funding Source
After tapping the add button, PayPal will display three categories to choose from when adding accounts:
- Bank accounts
- Debit and credit cards
- Amex Send accounts
Select which type of payment method you want to link up. For our example, we‘ll pick debit and credit cards.
You can repeat this process to add accounts from multiple categories to your wallet – up to 8 total funding sources.
Just remember, linking a bank account instead takes 2-3 business days before you can use it for PayPal payments. So I suggest starting with cards for instant-use capability.
Step 5: Enter Card Details
After picking debit/credit card as your funding choice, you‘ll need to provide the necessary card credentials for PayPal to record.
You can either:
- Manually enter the card number, expiration date, and CCV code
- Scan your card via smartphone camera and the details will automatically populate
I prefer the scanning feature – it reduces mistakes from typos!
Once submitted successfully, PayPal will connect your card behind the scenes to their records and advanced security protections.
It may take an hour or so before the linked card appears in your PayPal wallet‘s list of available funding sources. Then you‘re all set to use it for online payments!
PayPal Wallet Management Tips
After setting up new payment cards or bank accounts, keep these PayPal wallet management basics in mind:
Default Funding Source
Within wallet settings, you can drag-and-drop to rearrange your linked payment methods and select which one acts as primary auto-payment at checkout.
Limits
PayPal places limits on how much money can flow through new accounts, with increases over time as you establish legitimacy. Verify limits under the Wallet tab‘s Account Status menu.
Security Checks
Occasionally PayPal will ask you to confirm ownership of linked accounts. This adds protection against fraudulent links or takeovers. Expect random tiny deposits on card statements which you must then enter amounts for on PayPal to validate ownership.
Backups
Just like a physical wallet, keep an ongoing record of your PayPal wallet contents somewhere secure outside your phone. Jot down your card details and take screenshots of your source list in case you ever lose device access.
Let Me Know If You Have Any Other PayPal Questions!
I hope this start-to-finish tutorial has helped demystify the process of adding your cards into the PayPal payments wallet for easy access anytime you shop online.
Drop your PayPal or online payments questions in the comments below! I‘m happy to create more guides to manage your digital wallet smartly and securely.
