What is PayPal?

PayPal and Its History 

Our age is full of facilities. There is hardly any department of life that is depriving of the facility. O matter which field we belong to has a facility. If a person is sitting abroad, then he has no stress. The reason is the service that is given to him by the updated and the upgraded technology. He can easily transfer the money to the payment companies. No matter if it is a business or an individual approach the facility has reduced lots of problems. 

PayPal is a type of E-commerce. The company provides the facility for the payments those take place between different parties with the help of internet fund transferring system. The company allows the buyers to make an establishment of the account on the website. The site is connected to the credit card of a user, and the checking account can be linked.  The identifications and funds proof take place, and after that, the user becomes eligible for the receiving and the sending of the payments from and to the PayPal accounts. The online purchasing’s become safe as the company provides the facility of payments that do not require the customer to disclose the bank account number.

It is an American company that operates global payments through the online systems. The system supports the online money transferring those include the money orders and the checks. The company is one of the largest enterprises in all over the world that deals the online payments. The firm operates as a processor of payment for the online vendors, commercial users, and the auctions sites. It also charges a fee for the work. It was established in the year of 1998. In 2002 it had the initial public offerings. Later in the same year, it owned the eBay subsidiary. In 2014 eBay planned to spin off the PayPal and turn into an independent company, and it was done in the year of 2015.

PayPal is not a bank but subjected to the regulations of consumer protections from those the banks are governed. Under the rules of the bank, the liability of an extent of the individual for the unauthorized transactions can be determined, and it is done through the notification that is sent to the bank. On the other hand, the PayPal user has to check their accounts regularly, and on informing the company, it will limit the liability. That is what the difference between the bank and the PayPal Company. As for continuity, the PayPal Company was established in the year of 1998. It was a company to develop the security software for the handled devices those were founded by the individuals Max, Peter, Luke, Ken, etc. 

The company was launched and established as service that transfers money at continuity, and it was funded by the Blue Run Ventures by Malloy in the year of 1999. In the year of 200 and in the month of March the continuity merged with the x.com that is an online banking and was founded by Leon Musk.  Leon was very much optimistic about the successful future of the business of money transfer.  Leon, CEO and the president of the company X.com did not agree on the point, and due to this reason, Harris left the company in 20. In the same year, Leon made the decision. The discoing was about the termination of the company X.com with the backing of other internet operation, and also it started focusing on the papal money services.

 The company X.com was later in 2001 was named as the PayPal. It began expanding throughout the year, and it was still the company decided to take PayPal public in the year of 2002. In the same year, the company adopts the eBay as a key platform to grow.  The aim was to increase the user base due to the requirement for the online payment system on eBay. eBay response was that it would be with its payment services and ballpoints. The papal company fiercely competes for the points and raised a big amount of money.  Until the year of 2010, the company acquired by Bay. The product with the user base grew steadily and better than the parent eBay company.

Till 2014 PayPal got the aggressive moves and entered the latest tertiary those occlude the tools for the payments. For example micro payment, in store payment, mobile payment, international payment or expansions, etc. for the purpose of in stores payments it debuts the hardware and also made collaborations with the mortar and the brick stores. Moreover, it acquired the competitor Braintree and a payment gateway company. Different payment method includes instant transferring, check, PayPal balance, credit cards, etc.  

In 2014 PayPal announced the mobile trendily website worldwide.  The product got further updates in the same years. Like, Google allowed the payment options, wallet optioned. In the same year, the company introduced the passport service to promote the international trade.  In the year of 2014, the PayPal and the eBay company got separated and had their separated CEOs.  In 2015 further updates were introduced and more products were added, and various acquisitions also introduced. Like papal agreed to purchase Doom that is the technology used to transfer money online.

The company focus on the money transfer should take place effectively.  In 2016 many up gradations took place. For example, PayPal with Braintree launched the PayPal commerce. PayPal gives a new design to its application software.  In 2017 the company launched a slack for the payments, and these facilitate the peer to peer transfer. Hence the company has introduced many changes to facilitate the users.