Yeah. go to paypal.com make a hotmail account enter your hotmail and make a password in paypal theyll be a button that says sign up on the page. anwser all the questions.... then click verify then itll send u a email to ur hotmail verify it and u can receive payments.
You can receive money without a credit card attached, but you need a credit card or bank account to send money. So basically without one your money is useless.