What is PayPal commonly used for?

PayPal is predominantly used for electronic money transfers, which allows individuals and businesses to send and receive payments online securely. It operates as an online payment system that facilitates transactions without the need for direct bank transfers or carrying cash. This capability makes it a popular choice for online shopping, freelance work payments, and transactions on various e-commerce platforms.

In contrast, options involving in-store product exchange, cash withdrawals, or providing credit services do not accurately describe PayPal's primary functionalities. PayPal does not typically serve as a method for exchanging physical products in-store, nor does it allow users to withdraw cash directly from ATMs in the way traditional banks do. While PayPal offers services that can be related to credit—such as promoting credit options through its platform—its main role is focused on enabling secure electronic money transfers rather than being a credit service provider.