The Computer Revolution/E commerce/PayPal

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If you are bored of paying for purchases the old fashion way you can use PayPal to pay for the purchases. PayPal is an electronic service that takes your purchases from either your Debit or Credit Card. In order to use the service you need to register for an account at www.paypal.com. Once you have registered an account you can log in at any time to add funds, edit your preferences, and keep track of your orders by viewing them from the history tab. You can link multiple funding sources to your account so if you are low in one account they will automatically take the funds from the other source that you have listed. More businesses in today’s market will only allow PayPal because it is a reliable source to make your purchases. I have been using the site for several years and always have received notifications through my email stating the purchase was paid and will be shipped shortly.

PayPal logo

As a middleman financial broker, PayPal makes its profit by charging a percentage of the money it transfers for you. PayPal is free for buyers and for sending money to someone else. Once a buyer sets up a PayPal account, then it costs nothing to send money to a seller. The funds are withdrawn from the user’s credit card or bank account. PayPal commonly charges money receivers (sellers) a 30 cent fee + (1.9% to 2.9%) surcharge. PayPal only charges you to receive funds. If you are sending money to a friend or a family member (someone who is not a registered seller), you can opt to pay the PayPal fee yourself.

Bill Me Later: A PayPal Service[edit]

Do you like shopping online? And, sometimes there's not enough money in the account for PayPal service. Now there's no need to worry because you can buy now and pay later through Bill Me Later a PayPal service. Bill me later is a payment method offered on many merchant's websites, such as Wal-Mart, Petco, eBay and other merchant's sites. Bill Me Later allows you to shop online with a merchant that's part of Bill Me Later service without putting in any credit card information. You enter your birthdate, and last four digits of your social security number. Bill Me Later is subject to credit approval. There's no interest if balanced is paid in full in six months. Bill Me Later is like a credit card, and just like any credit card the consumer must use it responsibly. Bill Me Later was acquired by eBay in 2008, and operates as a subsidiary of eBay. Bill Me Later is a way to online shopping.

Bill Me Later an eBay Company

Sources: http://www.crunchbase.com/company/billmelater

PayPal Security[edit]

If you use PayPal as many do there is a way to add security to your account. The Federal and state laws allow you to restrict what information is shared by the site. Beware you can’t stop all information from being shared but there are specific parts that can be restricted. If you go into your account and uncheck the box in the Information Sharing section, you can prevent companies like Ebay from using your information for the marketing of their products. This page can be accessed by going under the Profile subtab under the My Account tab. You can control how PayPay uses your contact information for marketing as well in the notifications preferences.

Pay Pal: Digital Wallet[edit]

On March 13, 2012, PayPal will announce it's re-imagined consumer experience. This marks the first time in PayPal's 13-year history that they have completely redesigned and re-architected the PayPal wallet to make money work better in today’s rapidly evolving, multi-channel shopping environment.

Because PayPal’s wallet is digital, and not just mobile, it lets consumers do things with their money that have never been possible before. And there’s no finite set of features, because the digital wallet can evolve with the pace of innovation, allowing PayPal to incorporate new functionality as consumer demands shift.

According to Sam Shrauger, Vice President, Global Product & Experience, PayPal, ' "this is what we will make possible with the new PayPal:" '

' "Separating the purchase from the payment: Buy something in a store, take it home and decide later how you want to pay for it. PayPal is the only wallet that will offer a 5-7 day grace period for consumers to change their minds. Switch from one funding source to another;decide to pay over time in installments;apply different sources of value (gift cards, airline miles, loyalty points, etc.)" '.

' "Personal Lists: Search for items, compare prices and create lists of things you want to buy for a variety of situations" '.

' "Found Money: Your wallet will find deals and coupons for items on your personal lists once you’re in the store. Forgot about that coupon you were saving? The PayPal wallet won’t" '.

' "Spending Rules. Create specific “set asides” like travel funds, set rules by purchase amount, tie specific payment instruments to specific merchants – all in your wallet, without setting up any new bank accounts or opening any new credit cards" '.

Furthermore, Shrauger goes on to say, ' " . . . examples in everyday life would be:let’s say I want to combine the value of 10,000 airline miles with a $100 gift card to pay for the new TV I just bought. There’s no way I can do that right now – but the PayPal wallet will. Or what if I want my money to automatically filter into separate “funds” – one for groceries, one for travel, one for entertainment – when I get my paycheck every week. Then, at the grocery store check out, the payment is automatically pulled from the fund I’ve earmarked as grocery money. Sometimes I need to make a big purchase that I’d like to pay for in installments – but do not want to put it on credit. If I pay with PayPal, the retailer gets paid upfront by PayPal, but my money will be deducted in equal installments over time. This flexibility with your own money has never been possible before in the digital world. PayPal is not about replacing a card swipe with a phone tap at point of sale. We are reimagining money to free it in its digital form so that it can work better for everyone" '.



https://www.thepaypalblog.com/2012/03/sxsw-paypal-to-give-attendees-first-look-at-new-digital-wallet/