PayPal is an online payment solution which was begun in 1998. This financial solution has a presence around the globe and it was part of eBay at one point in time. The listed company has a revenue of more than $10 billion and it is reported to have almost 200 million users around the globe.
The primary goods and services provided by PayPal are finance related. After starting out as a payment system which is used to send money across the world, PayPal now has credit cards and other products in its arsenal. However, the primary product of the company happens to be payment solution. Users can register with PayPal to send and receive money around the world. It happens to be a much more secure way to transfer money, as the money is exchanged between two parties without the knowledge of their card numbers or bank account details. The PayPal user account is used to facilitate the transfer.
Since the company operates in several countries across the world, it manages to offer plenty of flexibility with regard to currencies. More than 15 currencies are supported by PayPal including USD, GBP, and euros. PayPal allows the flexibility to convert these balances into local currency, which would then be deposited into a local bank account.
PayPal offers an opportunity to make a referral money. In order to be eligible for the same, marketers need to be registered with PayPal. As one of the most secure financial organisations in the world, PayPal may or may not accept the application for an account. There are several financial conditions that need to be met – depending on the location of the market – in order to gain access to a PayPal account. Apart from being able to send and receive money using this account, marketers can also make money when they refer a new customer to PayPal. It is possible to earn up to $100 by referring others to join the organisation.
However, just $5 is provided as the referral fee for marketers. This fee is provided once the market offers a user, who must open an account with PayPal and complete a transaction within the first 14 days of signing up for an account. Once those conditions are met, the marketer is provided with the referral fee. However, the maximum possible income through this means can be $100.
PayPal also provides a global Partner program which differs from one region to the other. Some of the benefits of the Partner program include improved merchant sales, a single payment solution, and the ability to transact in 30 currencies across 200 countries in the world.
PayPal customers can be individuals or businesses around the world. They are primarily involved in transacting money across the globe. It could be in the form of freelancer fees or funds for purchasing a product on eBay. PayPal operates in a niche segment, and it happens to be one of the leaders in its segment.