Report on PayPal
General Information about PayPal
PayPal is an online money transfer company based in America. It is a world largest company that operates online payment systems. PayPal Company was started in 1988 as security software developer. It was founded by Max Levchin, Ken Howery, Peter Thiel, and Luke Nodek. It was later launched in 1999 as a fund transfer service at Confinity (Brian, 2015).
In the year 2000, Confinity combined with an online banking company, X.com which was founded by Elon Musk. Later, X.com terminated its banking services and focused on operations of PayPal. In the end, X.com was rebranded as PayPal in 2002. In the same year, PayPal had it Initial Public Offer when it became the fully owned subsidiary of eBay.
PayPal is a web-based internet application that allows secure transfer of money between user accounts. For one to join PayPal and send money he or she does not need to pay anything but there are some charges for the users who wish to receive funds. As a security company, it uses its advanced systems that prevent fraud and enhance secure transactions. The company also relies on the infrastructures of other financial institutions such as the debit card.
Almost eighty per cent of eBay auctions use PayPal payments method. PayPal was a default choice for eBay users, and the operations were completed by eBay’s subsidiary such as Yahoo, Billpoint, Western Union, and Google Checkout. These subsidiary companies were closed in 2004 (Damon, 2007).
As of 2016, the company transfers over twenty-six currencies across two hundred nations. It has over one-eighty million active users. It allows users to send and hold money in twenty-six currencies globally. Through PayPal, the customers can send or receive funds for online auctions from websites such as eBay, buy or sell goods, or receive donations or send donations. PayPal links with over fifteen thousand financial institutions across the world. The company has over one thousand merchants that allow the users to settle bills, and they include companies such as ZARA, Samsung, British Airways, kiddie care, BBC Children in Need and many more.
References
Brian, M., (2015). PayPal makes it even easier to call in your debt. Engadget. Retrieved from https://www.engadget.com/2015/09/01/paypal-me/
Damon, W., (2007). Pro PayPal E-Commerce. New York: Apress.
General Information about PayPal
PayPal is an online money transfer company based in America. It is a world largest company that operates online payment systems. PayPal Company was started in 1988 as security software developer. It was founded by Max Levchin, Ken Howery, Peter Thiel, and Luke Nodek. It was later launched in 1999 as a fund transfer service at Confinity (Brian, 2015).
In the year 2000, Confinity combined with an online banking company, X.com which was founded by Elon Musk. Later, X.com terminated its banking services and focused on operations of PayPal. In the end, X.com was rebranded as PayPal in 2002. In the same year, PayPal had it Initial Public Offer when it became the fully owned subsidiary of eBay.
PayPal is a web-based internet application that allows secure transfer of money between user accounts. For one to join PayPal and send money he or she does not need to pay anything but there are some charges for the users who wish to receive funds. As a security company, it uses its advanced systems that prevent fraud and enhance secure transactions. The company also relies on the infrastructures of other financial institutions such as the debit card.
Almost eighty per cent of eBay auctions use PayPal payments method. PayPal was a default choice for eBay users, and the operations were completed by eBay’s subsidiary such as Yahoo, Billpoint, Western Union, and Google Checkout. These subsidiary companies were closed in 2004 (Damon, 2007).
As of 2016, the company transfers over twenty-six currencies across two hundred nations. It has over one-eighty million active users. It allows users to send and hold money in twenty-six currencies globally. Through PayPal, the customers can send or receive funds for online auctions from websites such as eBay, buy or sell goods, or receive donations or send donations. PayPal links with over fifteen thousand financial institutions across the world. The company has over one thousand merchants that allow the users to settle bills, and they include companies such as ZARA, Samsung, British Airways, kiddie care, BBC Children in Need and many more.
References
Brian, M., (2015). PayPal makes it even easier to call in your debt. Engadget. Retrieved from https://www.engadget.com/2015/09/01/paypal-me/
Damon, W., (2007). Pro PayPal E-Commerce. New York: Apress.