The online payment marketplace is experiencing an explosion of innovative ideas, plans, and announcements, which one commentator has likened to a “goat rodeo”, a chaotic situation in which powerful players with different agendas compete with one another for public acceptance, and above all, huge potential revenues. Others liken the payment marketplace to a battle among the four platform titans Apple, Google, Facebook, and Amazon. Each of these titans have their own versions of a future payment system that challenges the other players. And let’s not forget PayPal, the reigning power in alternative online payment, or the credit card companies who process over 70% of online payments, or the telecommunication wireless carriers Verizon and AT&T who make it all happen. All of these players are also competing for a share of the online payment stream. They all want to help us spend money, for a fee. The continuing double-digit growth of e-commerce is certainly one factor driving market participants, but a more important factors is the emergence of the mobile platform of smartphone and tablets that opens the door for new firms to enter the online payment marketplace based on newer technologies and control of the mobile platform itself.
WHAT IS PayPal ?
PayPal is a global e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as checks and money orders. PayPal is an acquirer, performing payment processing for online vendors, auction sites, and other commercial users, for which it charges a fee. It may also charge a fee for receiving money, proportional to the amount received. The fees depend on the currency used, the payment option used, the country of the sender, the country of the recipient, the amount sent and the recipient's account type. In addition, eBay purchases made by credit card through PayPal may incur extra fees if the buyer and seller use different currencies
HOW TO BUY
The easiest way to remember your credit card number is not having to. Remembering 16 digits isn’t easy and typing them in to pay for something isn’t always secure. Now you don’t need to do either.
1 Sign up for free, and add a bank account or a debit/credit card. 2 Speed through checkout at millions of online stores. Just look for the PayPal button. 3 Stay protected from checkout to delivery with our Buyer Protection.
Figure 1.1 show Ebay the example of website use PayPal.
Figure 1.2 show Hop-shop-go example for PayPal.
Choose how you want to pay.
Set up your payment methods quickly and easily.
1 Confirm your email address. This helps protect you if someone tries to register a PayPal account using your email address 2 You can add multiple credit/debit cards and have the flexibility to set one as your default payment source 3 You have the option to withdraw any payments received to your bank account. Simply add a bank account to facilitate it. Add a card
You can add a credit or debit card to your PayPal account to make payments instantly. To add a card, 1. Log in and click Profile.
2. Select Add or Edit Card for payments.
3. Click Add card or Add another card and follow the prompts.
Top-up my PayPal account
You can use PayPal to make payments online card-free. Simply top-up your PayPal balance from your bank account.* 1. Log in and click Top-up.
2. Select Top-up via RHB bank* account.
Withdraw funds to a bank account
When you receive payments, you can keep the money in your PayPal account for future purchases or add a bank to withdraw it to your bank account. To withdraw your funds, 1. Log in and click Withdraw.
2. Select Withdraw funds to your bank.
3. Enter the amount and follow the prompts.
TYPES ONLINE PAYMENT