As technology is advancing day by day, it has also changed the way we pay for our services in our daily life.
Now, we often pay online rather than to opt for paying cash to the shopkeeper, using debit & credit card.
So, In this article, I will talk about the most used payment gateway Paypal which was initially started by Max Levchin, Peter Thiel, and Luke Nosek in Dec 1998.
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It permits individuals to make budgetary exchanges online among people and organizations, similarly as with the assistance of Paypal you can undoubtedly send or get installments.
What is PayPal?
PayPal is a computerized payment service that clients can utilize while shopping on the web. PayPal stores payment data, for example, financial balance or charge card numbers, with the goal that clients don’t need to compose the numbers each time they purchase something. PayPal additionally conceals this budgetary data from organizations, adding a layer of security to internet shopping. Independent ventures and huge organizations the same can join PayPal payment into their online checkout measure.
Client assistance – One of the criticisms received at PayPal is their absence of learned help via telephone. You can likewise run into issues, account suspensions, for example, when you get a spike in preparing the volume. There can be a long cycle to redress issues, for example, suspensions
Cross-Border Fees – Accepting installments from worldwide clients can be expensive and cut into your overall revenue. A client may need things to be shipped off the US for instance however if they pay from other nation you will be charged
Divert – If you are on the norm then it tends to be hard to follow your client venture. Clients are shipped off PayPal to finish exchanges and this can slant your Analytics
20 Interesting Facts about PayPal
o As of May 2020, the net worth of Paypal is over $45 Billion.
o In the second quarter of 2020, there are over 346 million active PayPal accounts worldwide, representing 21% of growth.
o In the year 2000, PayPal merged with Elon Musk’s company i.e. X.com an online
o banking company.
o In 2007, the founder’s launched Paypal initial logo, which later revised in the year 2014.
o PayPal is available in 100 currencies.
o Various retail and institutional investors own PayPal stock.
o Now, PayPal has won 5 awards from 2018 to 2019.
o In the year 2014, PayPal achieved the Zinnov Awards under the category ‘High Impact Global Roles.’
o Max Levchin, Peter Thiel, and Luke Nosek established PayPal as Confinity in 1998.
o PayPal’s electronic payments system launched in 1999.
o PayPal IPO was acquired by eBay on Oct 3, 2002, valued at $1.5 billion.
o There are over 22 million active PayPal merchant accounts.
o The most recent and largest PayPal acquisition was on Jan 6, 2020, where PayPal acquired Honey for over $4 Billion.
o In September 2015, PayPal launched its peer-to-peer payment platform “PayPal.Me”, a service that allows users to send a custom link to request funds via text, email, or another messaging platform.
o There are over 19 Million daily visits to PayPal.com.
o There are approx 305 Million active accounts on PayPal.
o PayPal One Touch has approx 70 Million registered users.
o If PayPal was a bank, it would be the 21st-largest bank in the U.S.
o PayPal has the largest global engineering team in India, mainly in Bengaluru, Chennai, and Hyderabad.
o They initially started PayPal with 6 members.
o There are over 18,000 Employees Worldwide.
So, these were some amazing facts about PayPal.
As we know pay pal has been a controversial app and service in history with a lot of criticism, accusations whatnot, in general, PayPal is a fabulous help for little to medium eCommerce vendors. It’s a perceived brand that is confided in the eCommerce world and the “one-contact” checkout accessible in their administration empower dealers to expand their transformations