Top 15 Essential Paypal Facts – Must Read

PayPal is one of the top-rated global online payment systems for both performing transactions and receiving cash for the service, which is a computerized option to conventional systems. It is known for its speed and system’s ease of usage. The client can locate the system just managing his PayPal description. After confirmation, payment can be paid for the products or services, sent to a different PayPal account (customer’s account).

Paypal has been one of the major sources for the online transaction as it provides enough security and also has refund policies so no one can scam you in any case, as Teams at PayPal are adjusted for reviewing purposes.

We’ll cover many PayPal facts which are essential for reviewing whether you are running a business or using it for your transactions. Let’s have a look at these factors which can deepen your understanding about it or just arbitrarily amaze you.

  1. PayPal is a sort of agent between the merchant and consumer, which is subject to money transfer securely.
  2. The Paypal service has been administering since 1998 intending to match the best transfer payment assistance for business holders.
  3. Many personalities are responsible for making such an awesome platform, let’s have a look at the names of personages, who are behind the existence of Paypal.

These are the PayPal founders:

  • Yu Pan
  • MaxLevchin
  • Peter Thiel
  • Luke Nosek
  • Ken Howery
  • Elon Musk

  1. The Paypal Headquarters are located at different places including  California, San Jose, and the US.
  2. Paypal has its very own official site and is rated as one of the most-visited sites. Because every service by Paypal is provided on the official site.
  3. Paypal provides convenient signup and requires only a few samples of information for creating the account. You just need to provide the email address and the password for signing up on Paypal. And another PayPal fact is that you can use the same email id on any other platform you need.
  4. This service was also used by e-Bay when it was on the initial scale, basically for the payment method there. It is unusual that most of the personalities who had worked at PayPal when it was established, after working left it when the proprietor changed because of e-Bay diverse working policies.

After that, they made a relationship with other companies and achieve a positive success rate. The most famous one is the establishment of YouTube which was developed by the 3 Paypal employees who left the company.

  1. PayPal is one of the companies, which has subsidiary businesses. Paypal has many subsidiaries or daughter companies as many apps have a transaction reference through Paypal. One of them is Venmo.
  2. A famous personality behind Paypal is Mr. Scott Thompson, you must have already perceived that it is the CEO of the company.
  3. There are few countries where online payments are restricted with strict policies, like some of the European countries. But the Paypal facilitates them with the ease to pay and receive via service without cutting down the country’s policies. So, even if you are planning to buy a smartphone online you can make payment via Paypal service.
  4. Paypal is the ideal platform for money transformation, as most of the freelancer needs a platform to make invoices and then get paid for their services. These invoices and bills can easily be generated by this service.
  5. Paypal is an award-winning platform and is holding more than 20 awards from various countries for the consistency of the service. This makes the platform a trusted one.
  6. Paypal has its strict policies and restriction is applied to drugs or sensitive contents for making this platform one of the top-rated payment platforms.
  7. The report conducted in 2015 shows that about 1.2 billion USD is listed under the company’s profit for more than 5 billion payments in a single year. Impressive Paypal facts, it all depends on how the company works and hardworking of the employees.
  8. Paypal also provides a refund policy, as if someone who has been paid but not provided the specific service. The payment can be refunded getting the details reviewed by Paypal Team.

In the online payment system, Paypal always holds the title of “Big Gun”. There are many PayPal facts that are featured in this guide to let you get the relevant information about the service and how it works for your business.