eBay uses PayPal as a payment intermediary for online auction them. Previously, eBay had bought Billpoint in May 1999 and make it as a payment intermediary only recognized by eBay, although the option to use other payment methods are permitted. In February 2000, on average there are around 200,000 per day of supply of goods that use PayPal, which uses Billpoint whereas only 4,000 course offerings. Even in April 2000, there have been more than one million bids using PayPal.
Finally in 2002, eBay acquired PayPal for $ 1.5 billion. eBay later remove services payments through PayPal Billpoint to increase potency. Many of the major competitors went bankrupt or PayPal sold, such as Citibank c2it which closed in late 2003, Yahoo PayDirect which closed in late 2004, and Western Union's BidPay service which closed in 2005. Another PayPal competitor that still survive today, among others, AlertPay, Liberty Reserve, WebMoney and Moneybookers.
In the first quarter of 2006, total transactions made through PayPal to U.S. $ 8 billion, up 41% from year to year.
Today, PayPal has become the world's largest payment instrument with more than 153 million accounts. PayPal can be used in 190 countries and 17 different currencies around the world. PayPal also support e-commerce transactions by enabling global locations, currencies, and different languages around the world.
Is Paypal more secure than other means of payment online?
Wisdom written protection for buyers who use Paypal stating buyers using Paypal can make complaints within 60 days if the buyer has not received the goods ordered or if goods ordered does not fit the description the seller notified. If the buyer uses a credit card will get a refund from their credit card company.PayPal also protects the seller from a refund or complain depending on the circumstances and evidence, written for the seller protection policy is designed to protect sellers from buyers who claim claimed to have sent money there is no record of proof of payment, every purchase using Paypal there is always a record of proof of payment in your Paypal account sender and receiver of money, as evidence if it is true there has been a money transfer. This became the major advantages of PayPal and no other payment instrument that has this facility.
How It Works PayPal?
As a broker in online transactions, PayPal makes sending money to someone in just the "mail recipient". The other party can not see the credit card information or bank account. This becomes excess PayPal in maintaining security of personal data users.
Should be prepared?
To send or receive money via PayPal, no need sophisticated tools or other payment documents. That need to be prepared only:1. email.2. funds from both PayPal balance, credit card or bank account.
What is the PayPal fee?There is no charge to list PayPal as well as for transfers from Bank Account to PayPal Account.Users will be charged a small fee to:* Personal PayPal account, will be charged if you accept payment by credit card.* Premier or Business account, will cost you each receive a payment.