|Peter Thiel, Max Levchin, Ken Howery, Luke Nosek, Yu Pan|
WEBSITE REGISTRATION DATE
15th, July, 1999
Payment Gateway Website
24+ Million USD
About Paypal Company
PayPal Holdings, Inc. is an American company that facilitates payments between parties through an online money transfer system. Paypal company was established in December 1998 as Confinity, PayPal had its public offering in 2002. Founders of Paypal are Peter Thiel, Max Levchin, Ken Howery, Luke Nosek, Yu Pan. After its public launch, it has now become a wholly- owned subsidiary of eBay. It serves payment systems as well as credit cards. PayPal has now become the third most popular payment method as of December 2020. The majority of online retailers across the world are now accepting these forms of payments.
About PayPal Services
As per reports in 2020, PayPal operates in around 202 markets and has now 305 million active users across the world with their registered accounts. PayPal now allows its customers to send, receive and hold funds in around 25 currencies. PayPal offers its services and solutions for both personal and business transactions.
Online financial transactions can be made using PayPal. Through PayPal, users can receive or send money for online transactions from websites like eBay, Amazon, etc. Purchase of goods and services, money donations, receiving amounts, and many more services are part of PayPal. PayPal also offers its users to set the currency conversion option in their account settings, for the money send or receive in other countries.
In November 2009, PayPal opened its platform worldwide for peer-to-peer online transactions, allowing other organizations across the world to get access to its code and use its infrastructure. PayPal now also offers Credit services, which allows customers to shop online in almost the same way as if in their traditional credit cards. PayPal Credit can be used to transfer the funds virtually anywhere where PayPal is accepted.
For using PayPal, users just need their email address or mobile number to sign up for the account. Users must provide their credit card, debit card, or bank account details to complete the setup. PayPal verifies the user before the service can be availed by the user. PayPal attempts to make transactions safer by providing a form of payment that does not require disclosing the person’s bank account details or credit or debit card number to the retailer.
Hence, the money is secure, user privacy is protected and transactions are faster than other traditional ones. PayPal launched its app for iOS and Android devices in 2013. It expanded its user base and mobile app capabilities by allowing users to search for nearby shops or merchants accepting PayPal payments. As of 2021, PayPal started a new service allowing users to use cryptocurrencies to shop 26 million merchants on their networks such as Bitcoin, Litecoin, Ethereum, and Bitcoin Cash.
PayPal Fund is a registered charity supported by PayPal. It streamlines donations to non-profit organizations across the world.
Benefits Of Using PayPal
The most important of all is to know about PayPal’s service benefits. Hence, let’s list them one by one:-
1. Users can shop millions of stores worldwide
2. Users can fly through checkout securely
3. Link and pay with a card of choice
4. All in one secure account
5. Earn rewards from favorite cards
6. Shipping refunded in case of returning a purchase
7. Shopping online without any hesitation
8. Buyer protection
9. Fraud monitoring
10. 24*7 services
About PayPal Features
● Accepts Payments Online: Paypal completely accepts payment online at your fingertips. You can carry your own mini bank in your pockets on the go.
● Barcode Scanning: To receive or make payments to an online merchant or nearby shops, users can scan the barcode provided to individuals user and pay securely and fastly.
● Bill Me Later: It is one of the convenient and secure payment methods designed for purchasing on the Web. Using PayPal Credit, you can purchase the products and pay the bills later just like a traditional credit card.
● Credit Card Reader: PayPal offers merchants the privilege to securely accept payments using credit card readers also. It is a service that allows accepting credit card payments using a reader that is plugged into your device. It is one of the Point of Scale (POS) systems and tracks all the sales in one place.
● Express Checkout: The customer can visit any website and select the items he wants to purchase. He can log in to the PayPal account while payment and confirm the purchase and hence use the express check out services.
● Inventory Tracking: Users can set their inventory tracking for their PayPal payment button and hence automatically receive alerts on the email or by SMS when the inventory runs low.
● Online Invoicing: Users can create and send online invoices from the PayPal app or website using a link to the invoice with your clients. This helps users in tracking their budgets and monthly expenses efficiently.
● PCI Compliance: PayPal offers Payment Card Industry compliance with ease and security. Users ensure that all the companies, stores, and users store process, and transmit card information and maintain a secure environment.
● Shopping Cart: PayPal has an exciting feature to track and list down your shopping cart. Users can set their site for quick eCommerce from online stores. It works by connecting the website to PayPal hence customers can make a faster purchase on products.
● Virtual Terminal: Users can process their debit or credit card payments received by their phone using authorization such as Card-not-present. Using a virtual Terminal, users can accept cards virtually from anywhere at any time. Users can use any device and manage their orders with easy to read reports.
● Variety Of Devices Support: PayPal has a large number of devices support such as android or ios smartphones, tablets, laptops, PCs. You just need to use the same log in id and password for accessing your account from anywhere.
● Easy To Use And Secure: Buyers and Sellers find PayPal easy to use and the most secure way for online payment. Financial information is securely encrypted.
Hence, PayPal has been fueled by access to all kinds of financial services and transactions. Through a combination of technological innovation and strategic partnerships, PayPal has now created better ways to manage and transfer money. Users have the flexibility and choice when sending payments and can avail of exclusive offers all around the world in one place.
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