Ecommerce: Paypal

From an analytical prospective, explain why do you think PayPal has been so successful throughout the world?

PayPal had become the largest, faster and secure online payment system. It is founded in the year 1998 that provided services of transfer money from one another via internet. It started to provide internet payment services in 1999. At first PayPal named as Confinity. In 2001, the name had been changed from Confinity to PayPal. Unluckily, in 2002, eBay successes bought PayPal with US $ 1.5 million. Now, PayPal can said as successful online payment system which recognised by everyone around the world. It is because PayPal have more than 132 million active accounts and operates in 193 worldwide markets. Also, PayPal providing 26 currencies around the world that enabling customers to send, receive and hold funds. PayPal a successful globalization services handled around 8 million of payment every day. In 2012, PayPal which is under eBay organization had contributed 40% of eBay Inc’s revenues. (PayPal, n.d.)

PayPal can be said as the leader of secure and convenience online service. It is because PayPal have many year experiences in this field and cooperate with many partners for survival. (Paypal Introduction, n.d.) To sign up an account of PayPal is very easy and fast its only takes few minutes. Customers must provide a valid debit or credit cards number and linked it with own account. PayPal not only a platform for transferring money to sellers, it also can be used for online donations. However, PayPal is not free. In order to enjoy the convenience service, a small percentage of money for every transfer is contributed to PayPal. The benefits of transferring money via PayPal will be more safety because PayPal able to keep the information of senders and receivers properly. (Marler, 2013)

The reason why PayPal can be successful throughout the world will be it know what will be the trend and very innovative because started to implement the online...