1.Open new document

Open new document, Write any word.

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After that open an image.

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2.Process

Copy the image.
Now, press Ctrl + Click on thumbnail of text layer, So you’ll have a dotted line around the word.

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3.Final step

Go to Edit > Paste special > Paste into. You’ll have a text with background like this.

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You can change the size of image by Ctrl + T.