PayPal: 20 Interesting Facts, Statistics and Figures

Posted on November 29th, 2016 by Quertime Writer in Web Tools

In 21st century the humanity can’t imagine the life without e-commerce. It has a huge impact on people’s decisions, and I consider it to be a big reason enough why e-commerce can no longer be ignored. Today, product’s perfect quality and relevant price do not guarantee its producer a success.

E-commerce – a system which every businessman must pay attention to and consider it when starting any activity. And one of the most important elements of e-commerce is its payment systems. While different devices give an opportunity to buy the product without leaving your home, payment system cares about money transactions. E-commerce is completely impossible without electronic payment system. Imagine a situation when you have already chosen your item on eBay so press a button to order, but there isn’t any payment system to provide you with money transfer service. It would be hard a little to finish your point, wouldn’t it?

What is PayPal?

PayPal – is one of the biggest worldwide online payment system, that is an electronic alternative to traditional methods. It is known for its quickness and easiness. The customer can access the system just using his PayPal account. After verification, money can be paid for the commodity or service, sent to another PayPal customer or received to the account.

Let me present you some interesting statistics and facts about PayPal, which can deepen your knowledge about it or simply positively surprise.

1. Nowadays e-commerce is a vital part of business. In case of its proper and effective using you have an opportunity to expand the market and to offer better service than your competitor.

2. PayPal is a kind of intermediary between the seller and buyer, which is responsible for money transfer.

3. The service is operating since 1998 with the purpose to become a transfer money service between the parts.

4. It is always interesting to find out the names of people, who are the main point where everything has started from. Enjoy the names of PayPal founders – Yu Pan, MaxLevchin, Peter Thiel, Luke Nosek, Ken Howery, Elon Musk.

5. The headquarters are located inSan Jose, California, United States.

6. The service has its own website – and it is one of the top visited sites in the world.

7. The email address and the password – the only two things you need to enter your account. It is easy and universally as you can create and use the same address that in other apps on your device.

8. In 2002 the service was acquired by eBay and now it is a basic online payment method there. It is interesting that some people who had worked at PayPal from its establishment left it when the owner changed because of eBay business policy. After that they became successful with other companies. The most impressive example is YouTube platform, which was found by three ex-employees of PayPal.

9. PayPal – is one of the organizations, which has the subsidiary companies. Many people can’t even guess that some of mobile applications can have any connection to PayPal service. I am speaking about Venmo, for example.

10. Mr. Scott Thompson – the name, which is popular between PayPal employees, clients and partners. You must already guess it is the president of the organization.

11. There are some features of application in different countries. For example, the customers from European countries can’t enjoy all the benefits of using the financial service American can do. They can’t cash out the money from his or her online wallet, but it is possible to pay for products on various websites using money, so if he wants to buy a laptop in the internet store PayPal will be an appropriate service in this case.

12. Speaking about the Europe, in Crimea the service shut down because of international policy concerning Russian Federation. There is the similar situation in some other countries of the world. The residents, who use the application in their business hope that all the restrictions will disappear in nearest future.

13. Despite the most popular and most frequently used currencies are USD, EUR, JPY, GBR, AUD and others, the service supports 26 different currencies. It is very comfortable seeing the customer can choose the most appropriate way to keep or send the money.

14. Today a lot of people work as freelancers or combine the major job and part-time job. PayPal is a perfect way to receive money from another member of Freelancer Community. In case you create the task and search for performers – your employees can be paid with a help of PayPal service.

15. PayPal has been awarded for its convenience by different communities, and it holds more than 20 awards. This proves, that the service is really a vital part of people nowadays life and it gets better and better every year.

16. The organization has its own principles and foundations of activity. It doesn’t work with things which can be associated with violence, cruelty, drugs etc.

17. 188 million users, 15 800 employees, almost 5 billion payments performed in 2015, $1.22 billion of company’s profit. Impressive facts, do you agree? It is the result of hard work of many people, who care about the company and its future development.

18. PayPal centers and offices are located in California, Nebraska, Arizona, Texas, Singapore, Germany, Ireland, China India, Malaysia and many others. People of different nationalities work in successful company.

19. In the European Union, the company conducts its activity through PayPal bank, which is located inLuxembourg.

20. PayPal is a real find for online shoppers, who are hunting for bargains days and nights. And not only shoes or barbeque can be bought with a help of your online wallet, why can’t be a new car bought pressing the button? The time is so limited today and shopping in malls takes so much efforts and even money. Choose an appropriate moment, find the product you need, compare prices and other terms, press the button and receive your order in some days or weeks.

It is said that the role of e-commerce will increase year by year, same as online transfer services will also develop and become available across the world for every consumer. If you still are not the PayPal user and feel the service can be beneficial in your business life or can just ease your casual life – make your move and register your account.

Author: Walter Hurley

Walter Hurley is a content writer at Edubirdie.com wishing to become a professional writer. Passionate about words, texts, and literature. He enjoys sharing his thoughts with large audiences.