Founded in 1998, PayPal, enables any individual or business with an email address to securely, easily and quickly send and receive payments online. It serves as an electronic alternative to traditional paper methods such as checks and money orders.
PayPal has quickly become a global leader in online payment solutions with 100 million account members worldwide. Available in 103 countries and regions around the world, the company claims 14 million accounts globally, and total transactions of US$8.9 billion in the second quarter of 2006.Located in San Jose, California, PayPal was acquired by eBay Inc.
in October 2002.Do be aware that the latest "newcomers"--along with other tens of countries which had been approved earlier--are able only to send money instead of receive payment. Why do their PayPal accounts have send-only capabilities? According to PayPal:
Due to the complexities of global finance, members in certain countries and regions need to meet the criteria to fully utilize our system, but this is not a reflection on the customer. PayPal is constantly working to expand and improve services for our customers. We hope to expand our features for these countries and regions, but we cannot give a timetable for this expansion.
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