Pay Pal

In: Other Topics

Submitted By vincentnah
Words 353
Pages 2
1. Why do you think PayPal has been so successful throughout the world?
I believe one of the reasons why PayPal has been successful worldwide is how it make money transfer much easier than a traditional money transfer method, which is via banks. As an international student, my parents used to support me financially. They sent me money from a bank in Japan to my bank in the United States. It took 3-7 days until I finally had an access to the money. It was also costing them a great deal of service fees because it was international funds transfer. It was not just about expensive fees. It was very time consuming as well. With my parents’ hectic schedules, going to the bank, conversing with bankers, and doing required paperwork were too much for them. PayPal is a cheaper and easier alternative for that. I wish I had known more about PayPal a couple of years ago so that I did not have to deal with my parents’ constant complains about the troubles they have to go through when sending money to the United States.
As I was reading the case, I was amazed how innovative its service is. PayPal’s app would be excellent for going out with friends because the app will allow us to split our bills almost instantly. We could avoid asking a waiter/waitress to split the ticket. I think this app has a lot of potential for the future and it attracts more people to use its service.
2. How has PayPal acted to increase globalization?
PayPal successfully became globalized service because it allows people in the world to purchase goods and services from different countries over the internet. Instead of making a payment with checks and money orders, people can buy what on the internet they way by choosing to pay through PayPal.
However, purchasing goods on the internet can be scary sometimes. I used to be scared of buying things online especially when it is coming from oversea countries.…...

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