Introduction:
PayPal - is a global e-commerce business allowing payments and money
transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with
traditional paper methods, such as checks and money orders.
PayPal
-is an acquirer, performing payment processing for
online vendors, auction
sites, and other commercial users, for which it charges a fee. It may also
charge a fee for receiving money, proportional to the amount received. The fees
depend on the currency used, the payment option used, the country of the
sender, the country of the recipient, the amount sent and the recipient’s
account type. In addition, eBay purchases made by credit card through PayPal may incur extra fees
if the buyer and seller use different currencies.
On October 3, 2002, PayPal became a
wholly owned subsidiary of eBay. Its corporate headquarters are in San Jose,
California, United States at eBay’s North First Street satellite office campus.
The company also has significant operations in Omaha,
Nebraska, Scottsdale, Arizona, Charlotte, North Carolina and Austin, Texas in the United States; Chennai in India; Dublin in Ireland; Kleinmachnow in Germany; and Tel Aviv in Israel. From July 2007, PayPal has operated across the European
Union as a Luxembourg-based bank.
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