Manage cookies and learn more. About Us PayPal is the safer, easier way to pay and get paid online. Our contact details: E-Mail: enquiry paypal. Luxembourg B If you would like to contact us, you may do so by logging in to your PayPal account here to send us a message that will be sent directly to a suitable team member who will respond to you.
To contact PayPal customer service online, first, a user should log into his or her account. By this method, a user can find a host of articles on any issue faced by him or her. For the CFO: [email protected]. For the CEO: [email protected]. The PayPal portal helps on four major types of issues faced by its customers; account and password related e.
The resolution center mainly solves payment or account-related issues where the direct involvement of customer service is very important. It is an option to call customer service directly if a customer feels like he or she can better explain and discuss the issue on a call rather than on text messaging. For account related problems, PayPal can be contacted at payflow- [email protected].
In , four entrepreneurs Peter Thiel, Luke Nosek, and Max Levchin founded Confinity, a company that provided secure online payment processing services. To continue the existing and expanding further operations of the company, it was necessary to build an application on which this service would be provided, and that application was needed to be launched on a mobile device. So, Palm Pilots was chosen as the device that would support the application as it was one of the most used mobile devices at that time.
It was soon realized that Palm Pilots was not a good platform for this business because not enough people used this device. So, email was chosen as an alternative way that the consumers would use to transfer payment to each other through Confinity.
This decision enabled the company to grow significantly as there was already a demand among e-commerce sites, especially eBay-for a payment service provider.
In , PayPal grew exponentially; its users increased from to 2. Both these moves contributed to the initial growth of PayPal. In the March of , Confinity merged with another startup X.
While initially, it was planned to continue expanding business in both directions, it was soon realized that the online payment service model of Confinity was a much better business model than X. The difference in the culture of both organizations led to the resignation of Peter Theil. Elon Musk became the CEO and started focusing on the online payment processing model. In the October of , Musk was replaced by Theil, and later in , the company was renamed PayPal.
In , PayPal went Public because they were facing a shortage of cash due to their referral marketing campaigns. So, in September the company announced its IPO.
All the efforts of eBay trying to compete with PayPal with its own payment solution services went in vain. During the further years, PayPal acquired many payments processing companies to expand its portfolio in different countries, regions, and industries. Most of these are payment processing services for example Venmo which is a mobile payment processing application. Some companies like Honey Corp which is a discounting company and iZettle which caters to small business solutions helped PayPal is expanding its business in other domains.
In , Carl Icahn, one of the major investors of eBay predicted that separating PayPal from eBay would be very valuable for both companies. In , PayPal separated from eBay and crossed its parent company in value in a very short amount of time. So, this move proved beneficial for both companies. Today, PayPal is still one of the largest payment solutions providing companies and is giving tough competition to its competitors such as MasterCard, Google Wallet, WePay, 2 Checkout, and others.
Growth and profitability is still expected as it enjoys several economic moats over its competitors and has a high customer satisfaction rate. Honey Science corporation is an online coupon and discount providing service and helps its members to save their money online. Recently, it has expanded into a shopping assistant and price tracking service provider. Honey Science Corp has been the largest acquisition by PayPal holdings till now. It serves two main purposes: a better online shopping experience for PayPal members and a better pricing strategy for sellers connected to PayPal.
Its primary target market was the small business industry. Gradually it started proving services such as software maintenance and support and financial solutions to small businesses. PayPal acquired this company mainly to gain influence in the small business industry as a service provider and to expand its service area outside the US to European and South American markets.
Braintree is also an online payment processing service that mainly attempts to automate online payments for sellers. The acquisition of Braintree also allowed PayPal access to Venmo, a mobile peer-to-peer lending application. Xoom Corp. Hyperwallet System Inc. By acquiring Hyperwallet Systems PayPal increased its influence as an E-commerce service provider company.
PayPal allows any business or online sellers to sell their products conveniently and with ease. It also helps its users to request payments from any other user. The final goal of PayPal is to change the way financial transactions are carried out traditionally. For this, the company is focusing on introducing some new and advanced features.
Currently, PayPal is making huge progress and the last year was the most successful year for PayPal in history. Due to this, the company is expected to grow swiftly in the coming years. PayPal earns most of its revenue through the transactions of its customers and by third parties with which it collaborates.
We have already discussed that PayPal also charges a service base fee plus a percentage of the total amount being transacted in some special cases such as a scenario in which currency conversion is necessary or required. So, the revenue of PayPal totally depends on the number of transactions it processes per year and also on the contracts it has with other businesses and companies. This may not seem like a perfect revenue model for a company but only with this model, the revenue of PayPal reaches billions of dollars per annum.
PayPal has loads of active user accounts that use PayPal regularly to send, receive, or request money, and the trade of over 20 million merchants is carried through PayPal. These merchants use PayPal for most of their transactions and PayPal according to their business model, earns a little percentage of the total amount.
One more way in which PayPal earns its revenue is by value-added services. Value-added services include interests of loans, different subscriptions, and receivables etcetera. It offers fast and smooth online payment processing services and especially shines in the areas where PayPal lacks that are providing online money collection and fundraising services. While WePay has been a successful venture, PayPal only needs to incorporate a multi-party transaction system and some other improvements to crush this competitor.
Google Pay provides digital wallets and online payment processing services and was created by Google to enter this industry. It is supported by Android phones, tablets, and smartwatches although it can be accessed by iOS in some countries.
In addition to proving the above-mentioned services, it has extra features such as personal financial services which help in tracking finances and more. Also, it charges nothing on debit transactions while PayPal charges 2.
So, it is a major competitor to look for. Verifone, Inc. Due to these reasons, 2 Checkout cannot be considered a serious competitive threat to PayPal.
Tariff Guide. Privacy Notice. Paypal PayPal is the safer, easier way to pay and get paid online. You get to offer your customers a globally accepted payment method used by over million active accounts in countries and markets. PayPal accepts 25 global currencies and multiple payment methods e. Quick set up and integration into your website. Affordable transaction fees. Advanced security features to protect the buyer and seller, reducing transactional fraud and risk.
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