We will seem at a case for explaining about the payment methods. PayPal is an e-commerce business permiting payments and money transfers to be completed throughout the Internet. PayPal serves as an electronic alternative to conventional paper technique such as checks and money orders.
A PayPal account can be sponsor with an electronic debit from a bank account or by a credit card. The receiver of a PayPal transfer can either request a check from PayPal, set up their own PayPal deposit account or request a transfer to their bank account. PayPal is an pattern of a payment intermediary service that make easy worldwide e- commerce.
PayPal carry out payment processing for online vendors, sale sites, and other commercial users, for which it charges a fee. It occasionally also charges a transaction fee for receiving money (a percentage of the amount sent plus an extra fixed amount). The fees charged depend on the currency used, the payment option used, the country of the sender, the country of the receiver, the amount sent and the receiver's account type. On October 3, 2002, PayPal became a completely owned supplementary of eBay. Its corporate head office are in San Jose, California, United States at eBay's North First Street satellite office campus. The company also has important operations in Omaha, Nebraska; Scottsdale, Arizona; and Austin, Texas in the U.S.; India; Dublin, Ireland; and Berlin, Germany, and now also in Tel-Aviv, Israel after PayPal obtained an Israeli startup called FraudSciences for $169 million. As of July 2007, across Europe, PayPal as well operates as a Luxembourg- based bank.
at present, PayPal work in 190 markets, and it runs over 175 million accounts
(70 million active accounts). PayPal permits customers to send, receive, and hold funds in 19 currencies universal. These currencies are the Australian dollar, Canadian dollar, Chinese renminbi yuan (only accessible for some Chinese accounts, see below), euro, pound sterling, Japanese yen, Czech koruna, Danish krone, Hong Kong dollar, Hungarian forint, Israeli new sheqel, Mexican peso, New Zealand dollar, Norwegian krone, Polish zloty, Singapore dollar, Swedish krona, Swiss franc and U.S. dollar. PayPal operates close by in 13 countries.
inhabitants in 190 markets can make use of PayPal in their local markets to send money online. These new markets consist of Peru, Indonesia, the Philippines, Croatia, Fiji, Vietnam and Jordan. A absolute list can be viewed at PayPal's website.
PayPal revenues for Q4 2008 were $623 million, up 11 percent year in excess of year. 45 percent of revenues in Q4 were from worldwide markets. PayPal's Total Payment Volume (TPV), the whole value of transactions in Q4 2008 was nearly $16 billion, up 14 percent year over year and for the first time PayPal's TPV off eBay go beyond volume on eBay. PayPal's Total Payment Volume in 2008 stand for almost 9 percent of global e-commerce and 15 percent of US e-commerce
In China PayPal offers two kinds of accounts:
- PayPal.com accounts, for sending and receiving money to/from other PayPal.com accounts. All non-Chinese accounts are PayPal.com accounts, so these accounts might be used to send money worldwide.
- PayPal.cn accounts, for sending and receiving money to and from further PayPal.cn accounts.
It is not possible to send money between PayPal.cn accounts and PayPal.com accounts, so PayPal.cn accounts are efficiently not capable to make international payments. For PayPal.cn, the only maintained currency is the renminbi.
though PayPal's corporate headquarters are situated in San Jose, PayPal's operations center is situated near Omaha, Nebraska, where the company employs other than 2,000 people as of 2007. PayPal's international head office is located in Dublin, Ireland. The company also lately opened a technology center in Scottsdale, Arizona. Its Asia Pacific operation center is place in Shanghai China.
The PayPal Buyer Protection Policy states that customers may file a buyer complaint within 45 days if they did not accept an item or if the item they purchased was extensively not as explained. If the buyer used a credit card, they may get a repayment via chargeback from their credit card company.
According to PayPal, it defends sellers in a restricted fashion by means of the Seller Protection Policy. In common the Seller Protection Policy is proposed to guard the seller from certain kinds of chargebacks or objections if seller meets convinced conditions as well as proof of delivery to the buyer. PayPal states the Seller Protection Policy is "designed to care for sellers beside claims by buyers of illegal payments and next to claims of non-receipt of any merchandise". reminder that this contrasts with the consumer safety they claim to offer. This policy should be understand writing carefully before pretentious protection. In exacting the Seller Protection Policy comprises a list of "Exclusions" which itself includes "Intangible goods", "Claims for receiving of goods 'not as described'" and "Total reversals over the annual limit". There are also other limitations in terms of the sale itself, the payment technique and the target country the item is shipped to (simply having a tracking method is not enough to guarantee the Seller security Policy is in effect). A class-action lawsuit was filed against PayPal, days following the company's successful original public offering.