In August 1991, there was only one website in existence: the World Wide Web (W3) project page. It had no graphics, just text on a white background with lots of hyperlinks. Fast-forward to today, there are over 1.5 billion websites. There are numerous reasons why people go online, some of which we shall address below:
- 71% of people use the web to buy products
- 53% use the internet for online banking
- 38% pay bills
- 35% play online games
- 26% participate in auctions
- 18% submit a donation to charity
- 15% sell something
Perks of Using PayPal
Almost everyone who has performed any of the above tasks over the years has likely used PayPal. First founded as a security software developer in 1998, PayPal changed its business model to a web-based all-digital wallet. In 2000, it added money transfer and payment processing to its services. Through various acquisitions, PayPal has become one of the most trusted alternative payment systems in the world. It’s particularly useful in five areas: online purchasing, money transfers, banking, auctions and marketplaces, and entertainment.
Safe Shopping Online
Online shopping is a necessity, not a luxury as it was years ago. To enjoy shopping online, you previously had to add your credit card and bank information. With PayPal’s long experience in online transaction security, your information is now well protected. When making online purchases, simply use PayPal as your payment option: you won’t need to reveal your financial information. The exchange transaction occurs on PayPal’s servers; thus, adding another layer of security. It can’t get easier than that!
PayPal is focused on improving the user’s buying experience. It acquired Honey Science, a browser extension that helps users find deals, coupons, and promotional codes. eBay is the biggest auction site on the web, with over 100 million buyer and seller accounts. PayPal is a trusted partner of eBay, among other large global online vendors such as Amazon, Ali Express, Mercado Libre, Rakuten, TaoBao, JD.com, Etsy, and Walmart. It’s one of the most preferred payment options because of its strong reputation for reliable service and secure processing.
Financial Convenience & Flexibility
With Paypal, money transfers are a breeze. Parents can send money to their college kids without worry. Having partnered with Xoom, PayPal is now available in more international locations. People can access their accounts from wherever they are to pay bills and collect invoices. Cash can be scheduled for pickup at reputable worldwide locations or delivered to a specific home address. You can even add service minutes to cell phones through PayPal.
Although PayPal is not a bank, it does function like one. In the US, PayPal account holders can deposit payroll and government checks directly into their PayPal accounts. The PayPal Debit MasterCard allows account holders to withdraw money and manage other transactions from nationwide ATMs. The card can be used globally by travelers and business people who are keen on convenience and security. For people who cannot access a full-service bank, PayPal is an excellent option.
Gaming at Your Fingertips
Online and mobile gaming has surged in popularity in recent years. Before players can download apps or join massively multiplayer games, they have to pay a fee. According to VentureBeat, 26% of players use PayPal. Gaming sites have to be pre-approved before they can utilize the PayPal payment platform. This rule applies to all companies doing business with PayPal. For legit online casino PayPal transactions are fast and secure for deposits and withdrawals. Top gaming platforms like Xbox, Twitch, PlayStation, the Apple App Store, and Steam use PayPal.
PayPal’s secure and trustworthy network has propelled the company to its current position as a principal global financial product provider. Today, it has 325 million active account holders. PayPal is not resting on its laurels and continues to make smart moves. It is future-proofing its services and products while expanding through strategic partnerships into the Asia-Pacific and Latin American markets. For many users, PayPal is reliable, convenient, and ubiquitous, and that’s just the way they like it.