# Introduction to PayPal Payments (/archive/paypal-payments-standard/admin/intro)



> **Warning:** This product is [deprecated](/archive/product-lifecycle) and should not be used for new integrations. Use [Payment Links and Buttons](/payment-links-buttons/overview) instead. For information about migrating, visit the [Upgrade Hub](https://developer.paypal.com/upgrade/wps/guide/).

New merchants may benefit from the following introductory payments information.

## Authorization and Capture [#authorization-and-capture]

Authorization and capture, or Auth/Capture, is specific to direct credit card payments. It allows you to authorize the availability of funds for a transaction but delay the capture of funds until a later time. This is often useful for merchants who have a delayed order fulfillment process. Auth/Capture also enables merchants to modify the original authorization amount due to order changes occurring after the initial order is placed, such as taxes, shipping or gratuity. ([More about authorization and capture with PayPal Express Checkout](/archive/paypal-payments-standard/admin/auth-capture))

## Recurring Payments [#recurring-payments]

PayPal Recurring Payments allows you to bill a buyer for a fixed amount of money on a fixed schedule. ([More about recurring payments with PayPal Express Checkout](/archive/express-checkout/integration-guide/ECRecurringPayments))

> **Note:** **Note:** You can also set up another form of recurring payments using [reference transactions]() to handle payments for varying amounts of money on a varying schedule.

## Reference Transactions [#reference-transactions]

A reference transaction is a financial transaction from which subsequent transactions can be derived. For example, a buyer purchases an item on your site, and you use the PayPal transaction ID or *reference transaction ID* later to initiate another transaction. Reference transactions and billing agreements also enable you to handle recurring payments for varying amounts of money on a varying schedule. ([More about reference transactions with PayPal Express Checkout](/archive/express-checkout/integration-guide/ECReferenceTxns))

## Refunds [#refunds]

You can issue a full or partial refund for a transaction. The refund process you use differs if the refund is issued within 180 days of payment or after 180 days from payment. ([More about refunds](/archive/paypal-payments-standard/admin/refunds))

## Reporting [#reporting]

PayPal provides you with various reports to help you run your business. ([More about reporting](/v5/reports))