PayPal is an online financial service that offer a safer, easier way to pay and get paid. Its service allows anyone to pay in any way they prefer, including through credit cards, bank accounts, PayPal Smart Connect or account balances, without sharing financial information.
Globally, PayPal remains the leader in online payment solutions with more than 267 million accounts worldwide. It’s available in 202 countries and 25 currencies around the world and enables global ecommerce by making payments possible across different locations, currencies, and languages.
From the internet industry and the business community, the company has received more than 20 awards for excellence, most recently the 2006 Webby Award for Best Financial Services Site and the 2006 Webby People’s Voice Award for Best Financial Services Site.
Located in San Jose, California, PayPal was founded in 1998.
Here, are some facts you need to know about the PayPal online payment system.
- Daniel Schulman is the CEO of PayPal online payment company.
- Elon Musk, Peter Thiel, Max Levchin, Ken Howery, Luke Nosek and Yu Pan are PayPal Co-Founders.
- PayPal was established in December 1998 under the name Confinity by Peter Thiel and Max Levchin .
- The online payment platform offers individuals and businesses low cost services.
- The company offers a variety of related services which includes debit cards for payments, credit card readers for small merchants, and lines of credit.
- They have three categories of accounts: personal, premier and business; PayPal’s core functions, business and premier accounts provide these options: Accepting debit and credit card payments, Allowing senders to set up recurring payments (subscriptions), Unlimited use of a PayPal ATM/debit card.
- They consider a very secure method of sending online payment.
- The company has been its own since 2015.
Reasons to Use PayPal
- PayPal offers a high level of credit card security for an online payment.
- It’s one of the largest online payment services in the world.
- You can send money to friends and relations across the globe, with just a click.
- PayPal mobile application makes online shopping and transfer easier.
- PayPal is cost free, no processing fees, service charges and annual membership fees.
- They offer special discounts to customers that shop with PayPal at selected retailers.
- Gives its user multiple payment options (Customers can input multiple cards or bank accounts).
- Users can receive funds in more than 100 currencies, withdraw funds in 56 currencies and also hold balances in 25 currencies.
- Provides safe means for online shopping.
How to Create PayPal Online Payment Account
- Visit PayPal official website.
- Click on the “sign up for free” button to create an account using your e-mail address and password.
- Fill in the necessary information in the box provided and click next.
- Securely add your cards.
- Click the PayPal button to check out with just an e-mail address and password.