Ecommerce: Paypal Essay

960 words - 4 pages

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 ...view middle of the document...

During the year 1999, the internet service does not very popular as compared to now. But, PayPal already able to come out with idea that make money transfer in much easier way compare to traditional money transfer method. Overall, there are many advantage of using PayPal such as convenience, easy, fast, secure and so on. (Paypal Introduction, n.d.)

Convenience point as advantage of PayPal, it can be done because customer do not need to go bank, queue and waste time at bank. Customers only need to log in into account PayPal, and do not repeated certain banking information when making payment. Easy and fast because the transaction can be make everywhere, anytime as long as have the internet connectivity. Its bring lot of convenience to customer around the world. By just log in into PayPal account the process of buying and selling can be complete easily. (Paypal Introduction, n.d.) The secure level of online payment services also an advantage of PayPal. It is proven because the active user of PayPal achieve more than 100 million. For instance, PayPal very concerns about the information of their users because PayPal set high priority and few others safeguards have been developed to avoid customer loss of trust toward them. (Marler, 2013)

PayPal know that their customer is concerning about the convenience and security level, so they make their online payment service simple, fast and secure to increase the satisfaction of customer. As results, it can help to meet the demand of two parties, customers and merchants. (Marler, 2013) Also, PayPal is a great value. From buyer point of view, PayPal is great because in same currency, no charges for sending out the payment. But, the competitive exchange rate fees will be apply if the transaction involved two different currencies example buying cosmetic product from Korea and shipping to...

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