Paypal is more than likely the most widely used payment service program used today. This payment service has over 60 million users worldwide and there are over 190 countries that use it for money transactions. Paypal was created by Ken Howery, Max Levchin, Elon Musk, Luke Nosek and Peter Thiel. These innovators saw the opportunity to create an online business that would eventually be used around the world. It is strictly an e-commerce business that is completely internet dependant. The company was founded in 1998 during the Dot-Com bubble but was able to make it out alive with little discrepancies. Working with Ebay, paypal was able to build its success very quickly. This payment service generates a whopping $4 billion dollars year or exceeds that amount. Paypal charges its users 2.9 percent of whatever the sale price is and they also charge 30 cents for every transaction that is made. This isn’t a bad way to go when you are making high amount of dollars with the sales at Book Bunker. There are many advantages to using Paypal to receive money from customers and pay vendors for products or services. It is a secure program that ensures that your money is taken well care of. Although setting up an account with Paypal is very time consuming, it reaps great rewards. There are many advantages to using Paypal for the many transactions that Book Bunker has come into contact with. By using this money processing service, you will be able to have a one click link on the checkout section of Book Bunker that allows the customer to be directed to the Paypal site to complete the transaction. As a merchant, you will be able to link your Book Bunker bank account to the Paypal account that will ensure that your transactions are secure and promising. You will be able to simply pay for your transactions just by clicking the Paypal payment method. If you do not wish to link your bank account to paypal, you do have the option to link your debit card or perhaps if you have
References: Efraim Turban David King Judy Lang (02/2012). Introduction to Electronic Commerce, VitalSource eBook for DeVry University [1] (VitalSource Bookshelf), Retrieved from http://online.vitalsource.com/books/9781256517344 Google Checkout. https://accounts.google.com/ServiceLogin?service=sierra&ltmpl=seller&continue=https://checkout.google.com/merchantSignInRedirect Paypal. https://www.paypal.com/webapps/mpp/merchant/ Roger A. Kerin (). Marketing [9] (VitalSource Bookshelf), Retrieved from http://online.vitalsource.com/books/0077590457 Truste. http://www.truste.com/products-and-services/consumer_privacy/privacy-programs-requirements Volusion. http://www.volusion.com/history/