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The world of online payments

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george rooney
The world of online payments

Long are gone the days when people used to go to the banks to cash their cheques. Long are gone the days when people used to make their payments through cash.

Nowadays, the world has gone far ahead than it was twenty years ago. People hardly go to the banks anymore. We now have smart phones. And Apps which help us transfer payments from the comfort of our homes. And the idea of transferring payments, sending and/or receiving, is very appealing to everyone in general because it’s probably the safest way of doing it. Firstly, it doesn’t take up much of your time and secondly since you’re doing it sitting in the safe and secure environment of your own house, the chances of you getting robbed are close to none.

One of most popular apps for transferring money, all over the world is PayPal. They were one of first online services to transfer cash using an online platform. Seeing the rise in demand for such a service there are many businesses who wanted tap into this market and create an app like PayPal.

Reasons to create an app like PayPal?

Before you want to recreate something like PayPal you should first know what it actually is. PayPal operates in more than two hundred markets all over the world. The number of active accounts on PayPal have reached Two hundred and seventy seven million. PayPal users can use its services and draw their money in more than fifty currencies and can have up to twenty five different currencies in one account. One of the best features for PayPal’s success is that there is no sign up fees or cancellation charges. Their service is for free. Plus you can also link your debit cards and credit cards and your bank accounts to PayPal.

Nowadays, many businesses are also using PayPal as a medium of sending payments. Many of the companies who have businesses online and are running affiliate programs also pay through PayPal.

Looking at all these features it is very clear why PayPal has turned in to such a big success. And these aren’t the only features that make PayPal such a successful payment transfer platforms. One also say that PayPal is one the pioneers of providing such a platform and it is safe to assume that they also took the first movers advantage in the market.

 

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