There are many online payment systems out there, but none quite so successful as the online giant that is Paypal. The brand is now recognized in almost every country around the globe, with the ability to send and receive money in many different currencies. The company came about in the late 90’s and since its foundings has gone through its fair share of ups and downs, however like many businesses, it has learned from these mistakes and grown every stronger. PlayNpay has created a unique infographic that will tell you everything that you need to know about this successful company, including a timeline and many fun facts.
Between the years of 2000 and 2002, PayPal saw a rapid growth, it was here that the company announced its first entry as a public listing. In July 2002, the online giant, eBay, bought PayPal for $1.5 billion. This business move proved to be a huge turning point for the online payment service as it becomes one of the major online payment systems that was used by the majority of eBay's customer base. You can find out more about how eBay changed the history of PayPal at playnpay.co.uk.
Seeing as there are so many online payment services out there, what makes PayPal so successful? There are many factors that have contributed to 43% of all online consumers having used PayPal at least once to make a purchase over the internet. One of which is the security that it offers. People are often very wary when it comes to entering confidential information like bank details online, and PayPal essentially removes the need to repeatedly enter this information. Not only that, but the company also provides buyer and seller protection. For example, if a customer has purchased an item online that doesn't arrive, they PayPal can reimburse the customer, including the cost of postage and packaging. Seller protection applies if a company is sent an unauthorized payment, such as from a hacked account or if the buyer claims that they never received their item, PayPal can cover the full amount of the payment.
Paypal helps to keep things simple, and that is just one of the many things that its customers love about it. No longer do customers have to go through a lengthy checkout process, in just a few clicks they can make payments through their PayPal account when shopping online. It is also possible to make payments to monthly bills and subscriptions through PayPal.
What makes the company stand out from other Online payment systems is the ability for customers to rack up rewards when they pay. In order to gain rewards, customers simply have to link their credit cards with their PayPal accounts in order to receive rewards with every transaction that they make with PayPal. You don’t have to have a balance in your PayPal account in order to use it, you can choose the payment method that you want to use, from a linked credit card, debit card or various other payment accounts.
These are just a few of the benefits and features that have helped PayPal stand out from other online payment systems and make it one of the most frequently used systems on the web. There are perks for both online businesses and customers alike, and it is this fact that makes PayPal one of the biggest online payment systems successes over recent years. To find out more simply head to PlayNpay and take a look at their infographic, packed full of tips, tricks, history and more.