PayPal is an online payment method owned by American company PayPal Holdings Inc. It operates in most parts of the world that allow online transactions and has around 361 million active users around the world. In Swaziland it is a major transfer method, especially by people sending money to their relations from abroad. Some people also hold their money in it as a digital wallet.
PayPal was founded in 1998 under the name Confinity. Four years later (2002) it was valued at $1.5 billion as it went public through an IPO. In the same year, the company was acquired by e-bay. It operated under e-bay until 2015 when it became an independent company again. As of December 2021, PayPal is valued at $218.77 Billion with shares trading at $186.
Operations
The company headquartered in San Francisco, California, US has established itself by eliminating the many challenges that dogged money transfers and transactions in the past. Its availability in many countries makes global online trade easier. It has regional centers that cater to the unique needs of the region. Swaziland, for instance, is catered to by the South African center.
Low transfer and transaction charges also made a great case for PayPal against its competitors. It liberalized transfers and forced others to follow. It is a safe means of transaction, often requiring close verification before allowing transactions to take place. The service provider plays a huge role in preventing fraud by making sure goods are delivered for payments made.