PayPal is a revolutionary digital payment method. It has played a huge role in enabling global trade by eliminating the hurdles that existed before it and other e-wallets came to being. The e-wallet allows account holders to send and receive money as well as purchase items from their internet-enabled devices (including mobile phones).
It is easy, secure, and fast to use. Moreover, it is much cheaper than traditional methods. Registration and operation require just a valid email. Verification with other documents is done at a later stage to prevent fraud and other security glitches.
Founding and Ownership
The first version of PayPal was a company known as Confinity. It was founded in 1998 by Luke Nosek, Peter Thiel, Max Levchin, Elon Musk, and Yu Pan. The headquarters were and remain in San Jose, California, United States. The company also has an operative center in La Vista, Nebraska, and smaller centers across the globe.
The company changed its name to X.com in 1999 and later to PayPal. It was acquired by e-Bay in 2002 before reverting to being an independent holding in 2015. Today, PayPal is a Fortune 500 company that is projected to surpass $1 trillion payment value in 2022.
Payment Options
Paypal allows pretty much every financial transaction that one would do with cash or a credit card. In Tanzania, users can use it to deposit and withdraw from live casinos as well as pay other merchants. A PayPal account holder is not limited to using it in their casino accounts only; they can also send money to other account holders who have PayPal accounts.