August 10, 2010

Paypal- Brief Overview

PayPal employee shtuttle
PayPal is an e-commerce business allowing payments and money transfers to be made through the Internet. PayPal serves as an electronic alternative to traditional paper methods such as checks and money orders.

A PayPal account can be funded with an electronic debit from a bank account or by a credit card. The recipient of a PayPal transfer can either request a check from PayPal, establish their own PayPal deposit account or request a transfer to their bank account. PayPal is an example of a payment intermediary service that facilitates worldwide e-commerce.

PayPal performs payment processing for online vendors, auction sites, and other commercial users, for which it charges a fee. It sometimes also charges a transaction fee for receiving money (a percentage of the amount sent plus an additional fixed amount). The fees charged depend on the currency used, the payment option used, the country of the sender, the country of the recipient, the amount sent and the recipient's account type. In addition, eBay purchases made by credit card through PayPal may incur a "foreign transaction fee" if the seller is located in another country, as credit card issuers are automatically informed of the seller's country of origin.

On October 3, 2002, PayPal became a wholly owned subsidiary of eBay. Its corporate headquarters are in San Jose, California, United States at eBay's North First Street satellite office campus. The company also has significant operations in Omaha, Nebraska; Scottsdale, Arizona; and Austin, Texas in the U.S., Chennai, Dublin, Berlin and Tel-Aviv. As of July 2007, across Europe, PayPal also operates as a Luxembourg-based bank.

In which countries does PayPal exist?
PayPal is available in 190 countries and regions. Currently, PayPal offers localized websites for the following countries:
Belgium -
Canada -
China -
Germany -
France -
Hong Kong -
Ireland -
Italy -
Mexico -
Netherlands -
Poland -
Singapore -
Spain -
Switzerland -
United Kingdom -

What can I do with PayPal?
PayPal is the faster, safer way to pay online. You can send money without sharing your financial information. All your transactions are available in your PayPal history so you can easily track your online spending.

Depending on your country of residence, you may be able to add funds from your bank account, accept credit card funded payments, and request money online. You can view the Worldwide page for more information.

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