PayPal The Online Payment Company.
Introduction • PayPal PowerPoint Presentation • By: Jalik Parham
Topics of Discussion • The History Of Paypal • The Growth of PayPal • How The Service Works • Uses for Send Money • eBay’s Acquisition of PayPal • Competitors • Complaints
The History Of • Co-Founders: Peter Theil and Elton Musk. • Theil was a securities lawyer and a options trader and Musk was a engineer and a model from South Africa. Founded in 12/1998
The Growth of PayPal Oct 99 – 24 Members Dec 99 – 12,000 Members Feb 00 – 100,000 Members Apr 00-1,000,000 Mmebers
How The Service Works Illustration of how PayPal works
Uses for Send Money • Pay for an auction item • Split a Restaurant Bill • Send Money to your friends or family • Pay Bills • Play Prof. Kopec in a game of chess for a couple of dollars. Free Advertisement: www.kopecchess.com
eBay’s Acquisiton • Ebay acquired PayPal for $1.5 Billion in 2002 • eBay integrated PayPal’s services with their own.
Competitors • eMoneyMail, Ecount, payMe.com CheckFree, Gmoney.com, MoneyZap, PayMe.com, PayPlace.com • PayPal simply does it better, cheaper, and faster than the rest. They also had the first move advantage.
How PayPal Makes $$ • Float; PayPal re-invests funds that sit in member’s PayPal accounts. • They charge approximately 2.5% of the dollar amount to the recipients of PayPal transfers.
Complaints about PayPal • Poor Customer Service • Credit protection policies are flimsy • The approx. 2.5% charge is too high • “Double Taxation” – “Tax” by eBay and “Tax” by PayPal • www.aboutpaypal.org, www.paypalsucks.com, www.paypalwarning.com,
The Future of PayPal • PayPal has a bright future. • They are considering branching out into a full fledge online bank with many banking products. • They will continue to expand their successful integration with eBay.
Thank You For Your Time Jalik Parham