To open a PayPal account, you must provide your name, address, phone number, and email address. In order to make payments using PayPal, you must provide a credit card, or debit card, or bank account information.
PayPal also asks that you choose two different security questions to answer (such as your city of birth or your pet's name).
This information is necessary for PayPal to process transactions, issue a new password if you forget or lose your password, protect you against credit card fraud and checking account fraud, and to contact you should the need arise in administering your account.
It is quick and easy.