I have been using the online payment from PayPal for many years. I find it to be very convenient, but really wish they had more competition so I have something else to choose from. If you use PayPal to receive money, be cautious about chargebacks from the buyer. Deposit the guarantees PayPal has, you can still get burned once in a while with chargebacks.

On the up side, the ability for an individual to be able to receive credit card payment is just plain convenient.

PayPal is a must if you like to buy or sell stuff online (and who doesn't?), especially on eBay.

Just remember to avoid accepting payment in a foreign currency, because their exchange rate absolutely sucks.