What is PayPal?
Founded by Max Levchin and Peter Theil in 1998, PayPal became the internet online solution for secure payment processing services for customers who became members. With advanced technology, PayPal became worldwide offering the most up-to-date secure financial transaction service available growing its members in the millions before it was sold to eBay in 2002. basically PayPal offer way to pay online without exposing your credit card details.
PayPal is the easy way to send and receive money online and pay for merchandise. Customer personal information stays in one place avoiding possible identity theft. Customers can join for free and attach their bank accounts and credit cards to their PayPal account. PayPal offers its own debit card giving it still another method of spending monies or withdrawing monies from the account. The ability to receive and send money to other people with an email address fast took the place of other businesses with high cost fees.
There are fees charged for certain transactions. If money is sent to friends or family and funded through the bank account or money in the PayPal account, there is no fee. If a transaction is funded through a credit or debit account, a fee will be charged to the receiver of the money. The PayPal account can be funded by the customer’s bank account if the customer wishes not to use a credit card for a transaction.
One of the biggest advantages of a PayPal account is the free protection. If something is purchased and when it arrives, is damaged or not what you bought or just simply, unsatisfactory, PayPal will back the customer and assist in the return of customer money.
With technology in full blossom now, PayPal offers applications for various cell phones that can receive internet service. Applications for the I Pad, Blackberry and Android are presently available.
PayPal assists small businesses in offering standard processing hosts. Payment gateways can often be very expensive and PayPal offers a solution to the small or new businesses with little or no expense. The small business website attaches small buttons to their order forms which the customer can click on. The button routes the customer to their PayPal account to pay for merchandise. The merchant never sees the customers’ personal information. They also offer Credit Card Merchant services for the larger ecommerce businesses.
Since 1998, more and more businesses have taken advantage of offering the PayPal payment gateway to customers and have made the internet a safer, more secure experience for customers.
PayPal suggesting secure and easy to implement solution for business to accept credit cards on their web site. here you can find more info about this option: Build Your Online Business With PayPal