The mission of PayPal from the beginning was to build the most secure and effective way for people to transfer money on the Internet. What was initially a simple idea has grown into the world’s largest option for sending money online. If you have ever sold or purchased anything on the Web, you have most likely used, or definitely heard of PayPal.
Paypal Number One Online Payment Gateway
What made PayPal such and instant success was the idea of immediate payment. When the option to sell products and services on the Web was born, there needed to be a way for people to safely transfer money. No matter how you sold something, if the person was not physically in the same place where you were, they had to either send a money order, pay for a bank transfer, or mail you a check.
Protecting Yourself When Selling Online
Even when expedited mailing services were used, most people exercised good common sense and waited for the check to clear the bank. It could days, even weeks to complete a deal. With the speed at which business could be conducted on a worldwide basis, there had to be a solution. During the holiday season late in 1998, four men expanded on a successful idea to implement security applications for hand-held devices and their brainchild PayPal was born.
Paypal’s Massive Expansion
PayPal merged with one of the wealthiest banking institutions in the world in 2000 and expanded their operations to include a PayPal credit card. Customers were no longer restricted to balances in a PayPal account to make purchases. Now customers can buy and sell almost anything using all major credit cards and then safely transfer of those funds into a PayPal account.
PayPal account holders can transfer outstanding balances in their PayPal account directly to a bank account, usually in less than 48 hours. Friends and family can now send money to people without the hassle of going to a physical bank or wire transfer location to pay and send the cash. Money can be sent to anyone with a PayPal account from a bank, or from another PayPal account holder. Money can then be easily transferred to a bank account and withdrawn as cash.
Call Paypal for Queries About Your Account
Moreover, speaking of banking options, PayPal has evolved into an online bank of sorts. Account holders can sign up for a PayPal ATM/Debit card, which means monies deposited into your PayPal account are accessible on demand. As soon as the payment for an item is posted to your PayPal customer service area, as quickly as you can get to an ATM machine you can have the money. The days of, “the checks in the mail” as it relates to buying and selling on the Internet, are long gone.
Before PayPal, conducting business on the Internet was either susceptible to fraud, or took days to finalize. Now, buyers and sellers can agree on a price and close the deal almost immediately. PayPal started out as a way to ease online commerce and today it is one of the leading financial institutions in the world.