PayPal HereTM
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2. Introduction of Group Project
2.1 Company, Offering, and Target Market
The company for which this project is based is PayPal Here, a product of PayPal, Inc., which is a subsidiary of eBay, Inc. PayPal Here, which has only had an exclusive release in March 2012, is an innovative mobile payment solution that includes a free mobile application and a triangular plug-in card reader for mobile phones.
The mobile business solution was designed to provide small business owners (in-store, off-line, online and on-the-go mobile businesses) a faster, cheaper, and more efficient method to get paid. PayPal Here will allow small businesses to accept multiple forms of
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It inherited PayPal’s reputation as leader in secure electronic transaction processing. Finally, PayPal Here is a free application; the card reader costs nothing after acceptance into the project, and PayPal charges low flat rates per transaction without the added costs of a monthly fee.
Since PayPal is interested in penetrating the mobile market, their goals include the widespread release of PayPal Here since it is currently only in exclusive release. By having its first mobile payment device, they are hopeful that this will be very successful in competing against Square. This will help contribute to the corporate mission and goals because they are continuing to include many different options of payments. Having a mobile payment option will especially be beneficial to small businesses, giving them a variety of different methods for payment.
As mentioned above, the corporate mission of PayPal is to be the most secure, cost-effective and convenient payment solution online. By expanding to small businesses in physical locations, that mission can change from just being the best online, to the best online and in physical stores.
Section 3 – Industry Dynamics
3.1 - In what stage of the product life cycle (PLC) is the group-project industry?
The NAICS (North American Industry Classification System) Code for the project is 522320 as it describes financial transactions processing, reserve, and clearinghouse activities.[4] In
Comparing the President of the United States to the King of England is like comparing renewable energy to fossil fuels, one is better for the people, and one has an almost absolute power. The anti-federalists argued that the President would be similar to an elected monarch, which is false due to a variety of reasons. The President of the United States does have several powers similar to the King of England, but they are to a much smaller extent. Hamilton is correct that the President of the United States is not an elected monarch, due to the President having to rely on congress, and the President not having complete power over any other branch.
Paypal is more than likely the most widely used payment service program used today. This payment service has over 60 million users worldwide and there are over 190 countries that use it for money transactions. Paypal was created by Ken Howery, Max Levchin, Elon Musk, Luke Nosek and Peter Thiel. These innovators saw the opportunity to create an online business that would eventually be used around the world. It is strictly an e-commerce business that is completely internet dependant. The company was founded in 1998 during the Dot-Com bubble but was able to make it out alive with little discrepancies. Working with Ebay, paypal was able to build its success very quickly. This payment service generates a whopping $4 billion dollars year
If you need to pay for some service or product, pay by Paypal. It is very reliable and trusted company.
Q4: On the merchant side, to what extent should paypal emphasize the recruitment of large, established online retailers versus small and midsized merchants? what changes, if any, should be made to pricing terms, product features and other policies ?
Each and every client of web administrations may be a "player" of eBay. Along these lines, there are an endless number of suppliers and everybody can offer something as a potential supplier for eBay. EBay plan of action gives an administration that brings the purchasers and vendors together. The suppliers don 't have much power aside from on account of the exchange of the top of the line things at the end of the day costly products: land or autos or types of gear. It is clear that both the purchasers and merchants need insurance for their things (Cheng, 2005, p. 159). eBay utilizes PayPal as a part of a request to accommodate smooth and brisk installment of things where the vendors need to get their cash rapidly. Be that as it may, it is entangled to offer costly where the suppliers have more power. Keeping in mind the end goal to encourage the offering costly things, eBay acquired Skype where to side can without much of a stretch import and trade information. The suppliers all in all don 't have much power unless they are managing the top of the line things.
PaySimple is a complete billing and payment solution that includes payment acceptance, customer data management, billing automation, payment vault and PCI compliance and a free mobile app. This program is also integrated with the Book Simple program shown above at no extra charge. Additionally, PaySimple also allows for unlimited customer data, invoice billing, recurring payments, as well as payment and appointment reminders, branded online payment forms and users.
PayPal enables you to pay without the seller ever seeing your bank account or credit card numbers. Learn more. PayPal is a leader in anti fraud technology. We use state-of-the-art technology to help prevent fraud, and our expert staff monitors transactions 24/7, enabling you to pay safely.
d) Electronic Fund Transfer. Electric funds transfer (EFT) provides for payments and collections by transferring financial information electronically. PayPal offer online payments and money transfer among businesses and individuals, nationally and internationally, in various currencies, requiring only that recipients have an e-mail address.
Scam products, money fraud , user claims of not receiving the exact product or not receiving it at all are various examples of the complaint emails received by ebay customer support employees. This article which is written by Amelia Murray demonstrates deliberately these type of scams and money fraud issues and exposes the reader to a number of guidelines that ebay sellers and buyers should follow to protect them from future online business defraudation. Paypal is a famous service which is used by business to transfer money between people and business online. As a buyer, it is more secure to process your sale transaction through Paypal when you buy stuff online from ebay since you guarantee getting back your money in case you got defrauded.
Alipay’s core service is an escrow service which solves the concerns related to settlement risk between buyer and seller. In this system, after a buyer commits himself/herself to an online transaction, his/her payment is held in an Alipay account until he receives the product ordered. After the product is received the buyer notifies Alipay and the payment is then forwarded on to the seller. As of December 2006, Alipay had 33 million registered users. (Source: “Alipay - 33 Million Registered Users,” www.imnewswatch.com, February 5, 2007) PayPal was a leading online payment company purchased by eBay in mid-2002. In June 2007, PayPal had 143 million user accounts across the world. Through PayPal, individuals and businesses could send or receive money over the Internet. PayPal supported payments in US Dollars, Canadian Dollars, Australian Dollars, Euros, Pounds Sterling, and Japanese Yen. Buyers could also pay for their online purchases on various e-commerce websites and auction sites like eBay using the balance in their PayPal account. Though this mode of transaction was quick, there were also a number of complaints from disgruntled PayPal users. Most of the complaints were related to the dispute resolution procedures of PayPal. In eBay China, transaction fees used to be charged as a percentage of the value of completed sales. This ranged from RMB 10 for a sale worth RMB 500 to RMB 115 for one worth RMB 20,000 (Source: “EBay China
PayPal is a system which customers can use to pay electronically and securely for goods over the Internet. Small, medium and corporate
The online payment marketplace is experiencing an explosion of innovative ideas, plans, and announcements, which one commentator has likened to a “goat rodeo”, a chaotic situation in which powerful players with different agendas compete with one another for public acceptance, and above all, huge potential revenues. Others liken the payment marketplace to a battle among the four platform titans Apple, Google, Facebook, and Amazon. Each of these titans have their own versions of a future payment system that challenges the other players. And let’s not forget PayPal, the reigning power in alternative online payment, or the credit card companies who process over 70% of online payments, or the
. Mobile payment users >190 MM in2012, which is over3 % of total mobile users worldwide a level considered as "mainstream”
For service providers, Mobile banking offers the next surest way to achieve growth. Countries like Korea where mobile penetration is nearing saturation, mobile banking is helping service providers increase revenues from the now static subscriber base. Also service providers are increasingly using the complexity of their supported mobile banking services to attract new customers and retain old ones.
When online commerce first emerged, many consumers were wary of supplying their credit cards and giving their personal information to online stores. This led to the development of websites such as Paypal, which restricts the access a retailer has to one’s credit card number (Einstein). The threat of fraud has always been a worry for online consumers, but consumers face the same threats when shopping in a brick and mortar store (Chadwick).