PayPal

R. Sathiyamoorthi

What is PayPal?

PayPal is an Internet business which allows the transfer of money between email users and merchants.

PayPal is the safer, easier way to pay and get paid online.

PayPal is an eBay company and is made up of three leading online payment services: The PayPal global payments platform, The Payflow Gateway, Bill Me Later.

Business

The service allows members to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts, credit cards or personal financing.

75 million active accounts in 190 markets and 19 currencies around the world, PayPal enables global ecommerce.

PayPal has received more than 20 awards for excellence from the internet industry and the business community -most recently the 2006 Webby Award for Best Financial Services Site and the 2006 Webby People's Voice Award for Best Financial Services Site.

Why Use PayPal?

Faster than sending checks or money orders Industry-leading fraud prevention helps keep you safe Financial information is kept private and secure eBay Tools and Merchant Services are free to use Accepted on eBay and merchant websites Payments can be made locally or in 190 countries and

regions worldwide

How it Works?

Acts as a “middleman” PayPal is not considered a bank because, It doesn’t

hold any physical money. Stated as money service PayPal works as an extra layer as a security feature,

because everyone's information, including credit card numbers, bank account numbers and address, stay with PayPal with other online transactions, that information is transmitted from the buyer to the merchant to the credit card processor.

How it Works?

All the money held in PayPal accounts is placed into one or more bank accounts, where PayPal collects interest.

A basic PayPal account (Personal) is free. User can send funds to anyone with an e-mail address, whether or not they have a PayPal account.

They'll get a message from PayPal about the funds, and then they just have to sign up for their own account.

How it Works?

Account types: Personal Premier Business

For occasional online purchase personal account is the right choice

Payments for users own business, Premier or Business account is more suitable.

Account type can be upgraded in the future / afterwards.

Technologies

The technologies used by PayPal consist of the main security mechanisms that most sites would employ.

PayPal uses HTTPS and SSL to encrypt the data stream when a user establishes a session with the PayPal site.

It is unknown what security mechanisms are used to protect their databases containing information about their customers.

History & Today

Founded in December 1998 by Peter Thiel and Max Levchin in Silicon Valley, California.

Nowadays headquarters are located in San Jose. Early PayPal product development focused on

building functionality to enable people to "beam" money to each other using handheld devices.

In October 2002 PayPal was acquired by eBay. eBay phased out Billpoint and integrated PayPal into

its services

History & Today

Merchant Services Total Payment Volume as percent of Total Payment Volume was approximately 53 percent in Q1 2009.

Bill Me Later Total Payment Volume as percent of Total Payment Volume was approximately 1 percent in Q1 2009.

PayPal transacted about $2,039 in Total Payment Volume every second in Q1 2009.

PayPal accounts contain approximately $3 billion in stored value that is spent every 2 weeks.

Features

PayPal started life as a consumer to consumer money transfer system. 

It soon became the number one payment method for online auctions at ebay and was eventually acquired by ebay in July 2002.

PayPal's popularity was in no small way due to the ease of use, as all that was required to use it was an email address.

Features

PayPal quickly evolved and developed business services allowing merchants to sell goods online.

PayPal doesn't require you to have your own merchant account to start selling online.

The new payment service has a handful of new features designed to make it easier for developers to make money with their applications and services.

Benefits

PayPal makes buying products and services or even sending money as easy as sending email.

It's secure and you don't have to give out your credit card account details to each merchant you buy from.

It's an extra measure of security for your credit card when you buy.

It's an extra measure of security for merchants since they are dealing with verified buyers.

PayPal is now owned by eBay - so security, service and reliability is good and improving each year.

Advantages

Payment is sent directly from one recognized bank account to another account.

Immediate and convenient. Payment is deposited directly into the seller's account. Transfer: Send and Receive is handled in different

actions Fast & Easy Transfers

Thank you