Successful E-Business Systems: PayPal :: essays research papers

SUCCESSFUL E-BUSINESS SYSTEMS - PAYPAL ABSTRACT PayPal is an account-based system that allows anyone with an email address to send and receive online payments. This service is easy to use for customers. Members can instantaneously send money to anyone. Recipients are informed by email that they have received a payment. PayPal is also available to people in 38 countries. This paper starts with introduction to the company and its services. The information about the history and the current company situation are covered. Later some interesting and different technical issues are discussed. The Paper ends with analysis of the company and several future recommendations. KEYWORDS PayPal, Payment Systems, E-business, Money Transactions, PayPal Analyses. TABLE OF CONTENTS 1. Introduction 2. PayPal as e-Business 3. Technical Issues 4. Analysis (of PayPal as e-Business) 5. Conclusion 6. References 1. INTRODUCTION 1.1 - PayPal –A Popular Company This paper is about a company called PayPal. First I will touch the general information about the company, then provide information about several details and finish with several useful future recommendations. PayPal (formerly X.com) that was founded in 1998 belongs to an Electronic Payment Systems, more precisely to Generic Systems subgroup. It is located in San Jose and carries out services that provide the possibility of sending and receiving money by means of computers in an easy, secure and fast way using an account-based system. This can be done by anyone (a private person or legal entity) who has an email address. When the money is transferred, a message is sent to the recipient’s email address notifying about the transaction. At the same time certain security measures are taken during these operations. One can still charge his or her account without having an electronic card, using the bank transfer or a paycheck. Transferring money is as easy as sending an email for customers. Page 2 2 (Fig.1, What is PayPal, retrieved on February 15 th , 2004 From: PayPal Developer Conference Keynote, Alex Kazim, VP Marketing, 05/08/03. Data available on http://paypaldev.org/ ) In 2002, PayPal was acquired by eBay. It has quickly become popular. Today the company offers services in thirty-eight countries and has about forty million customers for today. In most of these countries it supports bank withdrawal service and is especially popular among eBay customers. Fig.1 briefly illustrates Company’s business. The system enables its users to send money, using computers. The same can be done by means of mobile phones that are support Web.