PayPal was born as a merger between X.com and Confinity in the year 2000. The two companies offered payment services through email. To date PayPal has 232 million accounts in all the countries it operates. PayPal is an e-commerce payment option that is widely used across the world. PayPal allows clients to transfer money and make payments online. Online money transfer options have revolutionized money transactions across the world.
PayPal also allows for fast seamless money transfer between countries. The company charges a fee on every transaction made. The proportion of the fee depends on the amount transferred, and the country transactions are made between. Other than making online marketing, PayPal has developed options where clients can make in actual shopping outlets.
PayPal Popular Online Payment Method
There are numerous reasons as to why PayPal is a popular payment method. First, PayPal offers its clients with an opportunity to make secure payments for their online purchases. With PayPal, customers can shop in thousands of online stores and be sure that their financial information is not disclosed to other parties other than those authorized to access it. The second reason is the fact that PayPal payments are acceptable worldwide.
This means that regardless where you are you can make transaction using PayPal even when in a foreign country. PayPal is available in 193 countries across the world. Thirdly, sending money on PayPal is easy and fast. When sending money through PayPal, you require the email address of the recipient. If the recipient does not have an account, he or she can sign in when they receive payment. Signing up is easy and takes a short period.
PayPal has been criticized for being fraudulent. PayPal has been subject to online fraud perpetrated by a hacker who hack accounts and transfer money. Many customers have complained that the payment system is not secure.