Alternative Payment Solution: PayPal
PayPal is one of the largest payment service providers globally. It enables digital payments and offers acceptance solutions for consumers and merchants. The company specializes in online payments, mobile and e-commerce, fund transfers, and payment processing. It has expanded its capabilities through the acquisitions of Zong, Paydiant, CyActive, Modest, Braintree, Xoom, Swift Financial, and TIO Networks.
Founded in 1998 in the US, PayPal is now available in more than 200 markets, and is particularly active in the US, the UK, Germany, Australia, and New Zealand. The solution is accepted at 17 million merchants globally and supports all major payment networks including American Express, Visa, Mastercard, UnionPay, and Discover. Following its spinoff from eBay in July 2015, PayPal now operates as an independent publicly traded company.
The PayPal platform (which includes Braintree, Venmo, and Xoom) allows consumers and merchants to receive funds in more than 100 currencies, supports fund withdrawals in 56 currencies, and allows users to hold balances in 25 currencies in their PayPal accounts. It supports access to money on multiple devices, including smartphones and tablets, personal computers and wearables.
The report provides information and insights into alternative payment solution PayPal including -
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