PayPal


 * (Logo is the Property of Paypal(r) and Ebay(r))

=**What is Paypal?**=

PayPal is an account-based system that lets anyone with an email address securely send and receive online payments using their credit card or bank account. When a user goes and buys a product from a merchant online paypal ensures that the product is shipped before the payment is handed over to the merchant. Paypal is insured so in the event the buyer does not get the product paypal will cover some of the loses.

Paypal is considered to be the safest way to pay for products purchased on Ebay, Paypal has patented features that protect users from outside theft and fraud. Most sellers on eBay require buyers to pay through Paypal but only if they are verified users of paypal, which means they must prove that they have a bank account with enough money in it to make the purchases. It is a sense of security for sellers but most people are worried about having their bank account linked to paypal since they lack the security from Paypal.
 * Paypal was founded in December of 1998 by Peter Thiel and Max Levichin
 * More than 50% of Ebay's customers used Paypal in 2000
 * Was credited with inventing the Blurry type security feature
 * In october 2002 Ebay took over Paypal
 * With Bidpay (the biggest competitor for Paypal) going out of business in December 2005 Paypal is the leader in merchant tranactions online.

=Oh the Horrors!=

There have been thousands of reports of poor service and fraud regarding paypal. http://www.paypalsucks.com and http://www.paypalwarning.com/ are two sites dedicated to boycott Paypal.

=Work Cited=

[|http://www.google.com/search?sourceid=navclient&ie=UTF-8&rls=GGLD,GGLD:2004-49,GGLD:en&q=define%3A+paypal]