Pay by Paypal

PayPal is a common name and is used widely when it comes to online financial transactions, may it be transferring money to others; withdraw money in different currencies, hold balance in PayPal accounts, online shopping and so forth. Paypal is a world famous company that offers online payment solutions. Paypal was established in year 1998, in the month of December. In case of queries regarding any transaction or grievances feel free to contact the PayPal customer services team via phone 1-888-221-1161.

Back in years

Started as a company called confinity in 1998, which used to develop security software for hand-held devices, PayPal was later turned into an electronic money-transfer service by John Malloy from BlueRun Ventures in the year 1999. Confinity was set up by four people, Ken Howery, Luke Nosek, Peter Thiel and Max levchin. Confinity also lost its existence as a single power after being merged to X.xom co-founded by Elon Musk. Confinity in its initial phase used to recruit alumni from the Stanford Review. PayPal has currently more than 218 million active account-holders. Paypal has its corporate Head quarters in 211 North First Street, San Jose, California. The current President and Chief Executive Officer of PayPal is Dan Schulman.

Payment system revolutionized

Introduction of PayPal has revolutionized the payment system in the world. The very first financial systems used to be the Barter system where people used to exchange their goods for the intended ones. Now that system was quite crude as it was very difficult to find a person who would wish to buy what you have to sell and you might not even get your intended product with them too. Later currencies were created which took the system to a different level. Prices were determined and in order to buy a good you just needed to hand over the currency notes or coins to the seller at a mutually agreeable price. Later with the invention of digital currencies the need to carry all your cash was eliminated and you just now need to remember certain thing like the pins, usernames, passwords etc. The trend today has softened from the gross to a soft economy where the transactions are carried out in electronic format. The physical counting of paper notes has now reduced to just number displays on screen and still you can get what you want.

Working of electronic Payment

This electronic transfer system has lot of security features implemented with them so that it is not just easy to catch the culprits but also to make the online payments more reliable. In a shopping site when you click on proceed to payment, the system automatically contacts the merchant you selected (may be a bank, or online accounts like PayPal) and requests for transfer of electronic money, the merchant after confirming the validity of the request and the amount is available in the account, it transfers it to the account of the seller (that is your shopping site) and once the seller confirms the receipt of payment you have your transaction successful.

PayPal Helpline

If you have any queries regarding any financial transactions feel free to reach out to the PayPal contact numbers 1-888-221-1161 and 1-866-528-373.