PayPal was founded in 1998 by Peter Thiel (Peter Thiel) and max Leucinol (Max Levchin). It is a private company located in Palo Alto, California. PayPal provides its users with the ability to accept and send payments via email or mobile phone with Internet access. In order to become a system user, you must: fill out the registration form and access a personal account in the system. There are several types of accounts:
- Personal account
- Personal Premier account
- The business account.
Each has its own specific characteristics. To Fund your account with a credit card or Bank transfer to the Bank account. Work with the system PayPal offers its users the following services:
• send payment (Send Money). The PayPal user cant to transfer an amount from the personal account in the payment system. In this case, the payee may act as another PayPal user or a third party. For payment the user must complete the transfer form which includes the following fields: the address field of the email recipient field to specify the payment amount field to specify the recipient’s last name. When the user is ready to make payment, he clicks on the icon “Send Money”, and an email is sent to the recipient that the link in the email goes to the web site of the payment system where finalize the payment.
• request to receive payment (Money Request).
Using this service, user can send their debtors letter containing a request for payment. To submit your letter as a separate person, and group debtors. To do this, the user must enter in the field of the special form e-mail address of the message recipient and the amount. Further, as in the case of transfer of the payment, the payer receives an email with a link to the web site of the payment system. With PayPal, the payer prepares a money transfer, after which the required amount goes to the account of the user of the payment system.
• placement on the Web site user special tools to accept payments (Web Tools).
This service is available for holders of Premier accounts and Business accounts and recommended for use by owners of online shops. The user can place on your website or on a personal web page button by pressing which the payer enters the payment system site. There he performs the procedure of payment (it is possible to use credit cards), and then returns to the site Paulisolates. The Commission for reception of payments is 1.9% of the payment amount.
• tools for the auction trading (Auction Tools) .