1. DEFINING PAYPAL 1.1 About PayPal PayPal was launched in 1998 as an online transaction method where users can pay and receive money online. It’s located in San Jose, California and eBay acquired it in 2002. Users can pick their preferred payment methods such as credit cards, bank accounts, PayPal balance, PayPal plus credit cards and PayPal buyer accounts do their transactions without revealing their financial information. It has a user base larger than 152 million globally and available in 24 currencies and 203 markets across the world [source: PayPal]. So PayPal is recognized as one of the fastest, safest and easiest way of doing online transactions and already received a number of global awards (more than 20) so far. 1.2 How it Works To use PayPal users need to have a PayPal account. Creating a PayPal account is a fast, easy and free process and just to create Then the PayPal showed up with answers to both these issues. Once the users enter their details they never want to reenter those repeatedly except they want to chance or update those details in which saves a quite a bit of time and minimize the hassle. And most importantly PayPal never share our financial details with the sellers or merchants. It acts like a one safe middle layer and once the users sign up with it with all required details users have the freedom to do their online shopping peacefully without worrying about their most important financial information leaking out. This came as a big relief for the online buyers and they gradually moved into PayPal and now it has an active customer base larger than 153 million globally. Apart from these two features Pay Pal offers some other features as well such as sending and requesting money, paying with the mobile, PayPal credit and sell online. All these features make the users flow into PayPal and PayPal became a disruptive innovation over the previously main online payment method which is credit
FedEx provides shipping services through FedEx Express, Ground, Freight, Custom Critical, Trade Networks, and Supply Chain (FedEx, 2014). Tracking and package management services are available for all services through fedex.com (FedEx, 2014). FedEx also shares knowledge of shipping best practices on its website (FedEx, 2014). FedEx Office is another division of FedEx, where customers have an in-store option for taking care of their shipping, copying, and printing needs (FedEx, 2014). FedEx connects our global economy by linking 99 percent of the world’s GDP (FedEx, 2014). FedEx Express services every US address, as well as 220 other countries (FedEx, 2014). Some of the corporation’s new services include FedEx Delivery Manager and One Rate (FedEx, 2014). FedEx Delivery Manager is a service that is tailored to the needs of the recipient of a package (FedEx, 2014). FedEx One Rate is simply that, flat-rate shipping without the weighing and measuring (FedEx, 2014).
In 2002, PayPal was acquired by eBay. It has quickly become popular. Today the company offers services in thirty-eight
In terms of PayPal’s corporate level strategies, they have focussed on innovation where they are trying to bring new system and feature into their existing technology or product. The process is to cope up with the growing number competitions such as Apple Pay, Google Wallet and other financial institutions and providers. According to Keith Bossey PayPal was the only alternative web and mobile based payment processing provider among a field of 35 competitors to earn ‘Star’ status in their brand equity. They are the only brand used by a majority (53%) of micro to small medium sizes business and private enterprise owners around the world (Fallon, 2014). PayPal’s another corporate strategies was to connects with financial institutions around the world and allows customers to collects payments using a wide range of payment method such as Visa Credit, Online banking etc. It happens regardless of where the business and seller is being located. Despite the split from their parent company eBay in 2015. They have embarked their payment system journey through strategic acquisitions and growth in their strategies (Nunez Enterprises, 2015). At the same time their innovation and emphasis leads one of the profitable business and trying to do their best to serve consumer their services. The report show that they continue to expend their operations covering all seven continents and trying to reach as many consumers as possible to enable easy and faster payment system. According to CEO Dan Schulman PayPal will be providing “full service” to their
The use of credit cards is much more dangerous than use of checks or cash. Paying with cash is very easy; for knowing how
The strategic decision to form an acquisition with Skype in 2005 was made and the deal was said to be worth $2.6 billion. It is argued by eBay that with Skype it is able to create an “un-paralleled e-commerce engine”. This acquisition was a follow up of purchasing PayPal in 2002. Acquiring these prominent companies has allowed eBay to forge greater links on order to dominate specific regions of the world. Thes...
It is easy to use portable and the transactions are done through Internet so very there is very less chances of robbery.
To send $1,000 via Paypal from one account to another, the cost would be $29.30
Setting up an e-commerce store and filling it with products is simple to do. There are plenty of free open source
• Security. Security is a major issue, but all products provide security options: payment-on-accounts are password-protected and have specific buyer-only access rights.
You have a choice of paying by cash, debit card, online account or credit card. If you do not have money in your bank or online accounts, then either you go without, or you use your credit card. But, what about the people who have money in their bank account and still use their credit card.
One of the greatest opportunities for Amazon is an Online Payment System. The online system allows the company to reduce transaction fees and increase ease of use for their customers. Internet sales are increasing at a fast pace. This is a product of increased fuel prices, which make driving to a store less likely, and foreign purchases. This development allows foreign purchases to buy clothing as it becomes more popular abroad. Amazon’s biggest competitors can include retail stores that online stores such as Target, Best Buy, and Walmart among others, these can be considered the most dangerous for them since they have strong market share and can be a direct competitor since they attack the same market. Amazon wish to compete in prices, offering
Inspired by credit cards, they introduced plastic cards as a substitute to the books but this time people had to buy the cards. User base declined drastically. They held on to it when the merchants asked them to come online. Portal followed suit along with its physical card business, Snap deal was hence introduced to the Indian ecommerce industry.
Not only are there many ways to earn free money, they also allow you to receive payments in many forms, from PayPal payments, to checks, gift cards, magazine subscriptions and more. Perhaps the best part of this site is that you do not have to wait to receive payment, there is no minimum requirement to collect. Yes, you can withdraw money even if you have 1 cent in your account.
Mobile payment is payment services operated under financial regulation and performed via a mobile device. Numerous definitions have been introduced by scholars of Mobile Payments field one of the popular “Mobile Payments are payments for goods, services, and bills, invoices with a mobile device (such as a mobile phone, smart-phone, or Personal Digital Assistant) by taking advantage of wireless and other communication technologies (such as mobile telecommunications networks, or proximity technologies)” (Dahlberg et al., 2008)
Due to the increasingly common act of smartphone payment, to protect yourself, be sure to have a password on your phone, and don't leave personal information easily visible on your phone.