It seems that every year payment systems one by one try to make new surprises for us. This time the surprise became from popular and known E-bullion payment system which always was considered as closed type payment system which doesn’t put into the own practice any alien business methods and stereotypes. There was set a rumor that E-bullion system is going to follow the well-known E-gold payment processor because these two systems have the same work principles and they are based on one technology. The social majority can think about this situation, “Hm... it is really strange. Why successful and developing company aim to go out from success way?” Unfortunately the recent events explain a lot of these questions and confirm the rumors. On Monday, 28 July 2008, at 6:30 PM there was found stubbed Pamela Fayed, one of co-founders E-bullion. Woman died because of numerous stabs. This news shocked social community and especially the way of murder. There are a lot different hypothesizes about
PayPal: more than 100 million users
One of the leading American on-line payment systems, PayPal, was founded in 1998. In October 2002 eBay, the leader in Internet auction business, acquired the company for 1.5 billion dollars. The number of the system users increases daily and now it exceeds 100 million.
System Features
Unlike other systems, PayPal is closely connected with a client’s bank account or bank cards. When the user has not enough amount on his/her PayPal account the system, as may be required, automatically takes the requested amount from his/her bank account. Besides the client’s money any time can be transferred to his/her bank account. PayPal operator has no client software to access the system. As an option for money transfer, e-mail is used as a login to enter the system. A sender goes to a web-site with his information and confirms his/her payment. A recipient gets mail including the paid amount, transaction ID and sender’s information. This system is suitable for majority of transactions.
PayPal account types
A system user can choose one of three account types, each having its peculiarities and fees. The fees can vary from country to country where account is registered. The following account types are used in PayPal:
- Personal Accounts are for personal use inside PayPal system: transfers to family, friends and clients of the user. This type is not planned for credit card payments. Personal Account turnover is limited to 500 dollars a month.
- Premier Accounts are for users who have greater financial turnover than in Personal Accounts and who need bank accounts and credit card payments.
- Business Accounts are the accounts opened by companies. These accounts can be registered only on behalf of the company with its details and logo. The company wishing to open its Business Account shall have TAX ID along with the company’s registration documents.
General list of possible options for all accounts is standard: sending and reception of money, subscriber’s payments, account insurance, e-mail communication with administration. Premier and Business accounts users are granted a debit card and can make massive payments (muli-addresser payments). Personal accounts users can reorganize them its Premier or Business accounts free of charge.
PayPal advantage – Its safety
PayPal is one of the most significant and popular means to send and accept payments in eBay auctions, consequently the safety matters are very important to the company. All accounts, regardless of their types are classified to verified and unverified. PayPal official web-site states that verified accounts are trusted more. In additional to the instant payment accrual and high safety PayPal has one more advantage: when a commodity bought is not received or does not comply with its description the buyer can get back, fully or partially, the amount paid for it.
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