What Is PayPal?
PayPal was founded in 1998 and has it's headquarters in San Jose, California. It is a global e-commerce business enabling payments and money transfers to be made via the internet. PayPal was first employed as the primary paying mechanism for online auction giant 'Ebay.' Since then, it has emerged as its own online bank, extending credit to customers and offering online deposits and withdrawals. Because so many online retailers operate using PayPal as its payment service provider, it operates with a base of deposits similar to any traditional brick-and-mortar bank.
PayPal's internet banking system differentiates itself from competitors through its wide variety of merchant services and online options. Since PayPal originated as an online payment gateway, its integration into both online stores and internet payment methods is top tier. Because of this, it is the preferred method for those who conduct commerce online.
With each passing year, other online banks and payment gateways do their best to compete with PayPal's many online options. Providers such as Google Checkout have started to make headway towards leapfrogging PayPal's status as an industry leader in internet banking for online merchants. However, because of its various credit options and ease of use, PayPal continues to remain on top of the pack.
PayPal must still work, however, to catch up with established banks. Deposit accounts with checking options are only a recent development for PayPal, with interest bearing accounts becoming accessible only within the last fives years. Without greater marketability towards those outside the online merchant industry, PayPal is unlikely to surpass established banks.
PayPal is likely to continue to offer new and improved service to its thousands of online merchants and customers. It will also continue to expand on its conventional banking services. With time, and a proper marketing approach, PayPal has the size, resources, and schema to compete head-on with other major national banks.
Paypal gives you the option to pay by a variety of methods. Instead of having to always have money in your PayPal account, Paypal gives you the option to link your bank account, credit card, or debit card to your PayPal account. Transactions are free for the buyer but the seller does pay a small fee to securely handle your payment.
Now you can take PayPal wherever you go with the new PayPal App for your phone or tablet. You can transfer money to friends or your kids, make a purchase online, receive a payment and check your account balance at anytime and from anywhere. PayPal transactions are secure as each transaction is confirmed by a password or PIN number. PayPal also offers purchase protection. If you are not satisfied with your purchase PayPal will refund the full purchase price plus shipping costs.
PayPal transactions per day number approximately 4 million
PayPal Here™ For Business
With one simple PayPal account you can now accept all major forms of payment whether you are online or on the road.
PayPal Cash Card
The PayPal Cash Card is a Debit Card that can be used with your Personal PayPal account. This card allows you to process online transactions such as cash a check, load cash, do a bank transfer, and direct deposit.
Paypal Debit Card
Simple prepaid debit card that can be used in retail stores and online anywhere Debit MasterCard is accepted. Reload funds to your PayPal Prepaid MasterCard by direct deposit, transfer from your PayPal account or stop by any of the 130,000 NetSpend Reload Network locations nationwide.
Apply online for your new PayPal Prepaid MasterCard® today!
Paypal credit is a digital line of credit that can be used for online purchases. There is no physical card and credit is subject to an approval process.
PayPal Latest News
PayPal Canada recently launched a mobile app which allows users to pay for purchases at select restaurants with their Apple or Android devices.
Carl Icahn has backed off on his idea that eBay should sell off its payment business PayPal, for now. With the appointment of David Dorman to the board they are committed to continuing to drive growth for PayPal and eBay together.
Paypal Account: PayPal
PayPal Merchant: PayPal Business
PayPal Money Transfer: Send Money to Family and Friends