PayPal is an online payment platform that allows users to send and receive payments electronically. Users can link their credit/debit cards or bank accounts to a PayPal account, which then acts as a secure intermediary for online transactions. When a user makes a payment through PayPal, the recipient receives the funds in their PayPal account, which they can then transfer to their linked bank account. PayPal also offers buyer and seller protection for eligible transactions, making it a popular choice for online payments.