1.0 Introduction
Technology usage has been very common in this new era of globalization. In order to survive in today’s challenging business world, company has to be challenged with highly competitive pressure to bring out more effectiveness and effectiveness when running a business, especially online business. This case study is about PayPal, a well known company that provides digital money transfer service online worldwide by using new technology system and how it turns globally accepted.
PayPal's founder was Peter Thiel and Max Levchain, which originally an administer of hedge fund and online security expert. In September 1998, they launch Field Link which enable consumer to save encipher details in digital wallets. Subsequently, confinity is named after few months later with objective allowing money transaction through PDA devices. However the company faces lots of problem as crime groups hack it for illegal matters such as laundering. Finally PayPal is born in 1999 when they come out with a online demo that enable email payments transaction. (History, n.d).
In order to have a money transaction using technology either in computer or mobile devices, PayPal is known as best choice as it provides faster and safer services. Without having to share our individual's personal details and financial information with other all kinds of online merchant, PayPal helps to handle all kind of defrayal collection. By providing adaptability for customers to do online transactions with account balances, credit cards and, PayPal managed to perform worldwide commerce and process around eight million payments every day. (About PayPal, n.d).
2.0 Reason why Pay Pal has been so successful throughout the world
From an unknown to a well known worldwide organization, there must be reason why PayPal being so successful. Despite the problem caused by crime groups and hackers that destroy privacy of online transaction, PayPal founders insist in...