PayPal Ventures into Credit Payment Forms via New Acquisition Bill Me Later
Internet services are many and varied. The information superhighway has opened up many different new horizons
Online PR News – 02-October-2012 –Internet services are many and varied. The information superhighway has opened up many different new horizons that were previously untapped. In addition to new horizons, existing enterprises have been pushed up onto the internet. With this, profit margins have risen and revenue improved.
Out of these, a significant percentage is likely to actually make arrangements for either purchase of a product or a service. Initially, the issue of virtual payments was a bit of a problem. The infrastructure for transfer of money from a consumerís bank account to a virtual account, the payment for this particular service or product and the transparency of the entire process was significantly weak. Moreover, there were hackers who swindled people off their cash online. Well,that is why PayPal was created.
Only the most widespread of online payment facilitators, PayPal have ensured that for all your online payments security and efficiency are key. The online financial security company works by assigning free online accounts to anyone who regularly participates in online transactions. This could be a consumer or a merchant.
Moreover, consumer information like credit card numbers and such like are kept secret and secure as confidential information between the consumer or merchant and the company. Fundamentally, the company is like a digital wallet for all your payment solutions. On top of that, the company is offering a novel addition to its global financial services.
A first of its kind, PayPal has recently acquired online credit company Bill Me Later (B.M.L.) for almost %1 billion. This acquisition means that PayPal is moving in to provide purchase on credit on all supported websites.
Moreover, the online payment solutions giant could get into the business of loaning cash to consumers for online purchases and then levying an interest on repayment. Considering how many people shop on PayPalís bonafide marketplace e-Bay and on other websites, the profit margin could soar.
This would not only cement PayPal as a next generation online payment solutions but actually convert it into a financial product for the masses that is solely based on the internet.As much as the new acquisition and business venture could raise PayPal to new heights, there is also a significant degree of risk involved. The consumers may borrow and not be able to pay. Defaults are common in todayís economic times and this endeavor could be a double edged sword for PayPal.
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