Secured Online Payments - Research Paper Example

The paper "Secured Online Payments" is a great example of an essay on information technology. PayPal This is an e-commerce business that enables money and payment transfers to be carried out via the Internet. This online payment method is seen to be an acquirer as it carries out payment processes for commercial users, online vendors and auction sites. These processes are made after some fees have been charged. PayPal was started in 1998. Its headquarters is currently in San Jose California (PayPal, 2014).

PayPal puts all individuals at the center of everything the company does. The company goes on to remain at the front position of the digital payments revolution as it processes close to 10 million payments daily for their customers. Moreover, PayPal gives individuals better ways of connecting to their finance and to each other. This is by helping individuals send their money with no need of them sharing their financial information (PayPal, 2014). On the other hand, it gives individuals the flexibility of paying for goods and services by the use of their PayPal credit cards, bank accounts, and PayPal account balances.

The company has 157 million digital wallets that are active. Due to this, it has formed an open and safe payment ecosystem whereby businesses and individuals choose to safely transact with each other virtually, on mobile devices and in stores. PayPal is a worldwide payments platform that is open to individuals in 203 markets. It allows its clients to receive payments in more than 100 currencies. It also allows them to take out funds from their bank accounts in 57 currencies (PayPal, 2014). To add on that, PayPal holds balances of their client's accounts in 26 currencies.

The different currencies that the clients can hold in PayPal include the Australian Dollar, New Zealand Dollar, Swedish Krona, the U.S. Dollar, Canadian Dollar, Euro, Brazilian Real, Turkish Lira, Russian Rubble, Japanese Yen, Malaysian Ringgit, Mexican Peso, Czech Koruna, Danish Krone, Philippine Peso, Swiss Franc, Norwegian Krone, Singapore Dollar, Hong Kong Dollar, Taiwan New Dollar, Thai Baht, Chinese RMB, Hungarian Forint, Pounds Sterling, Polish Zloty, Brazilian Real and Israeli New Shekel (PayPal, 2014).

In the third quarter of 2014, the revenues at PayPal represented 45% of revenues in eBay Inc. This online payment method had 1.95 billion dollars as its revenues in 2014. This was an increment of 20% yearly. Moreover, close to 25% of this online payment method trade is cross border trade. Originally, it is viewed that a PayPal account can be loaded with funds by the use of an electronic debit from an individual’s bank account (PayPal, 2014). Moreover, it may be loaded with funds by the use of a credit card at the choice of the payer.

  SkrillSince 2001, Skrill has been transferring money digitally. This payment method is among the leading digital online payment companies in the world. It has 560 individuals from different nationalities who work in the company’s headquarters in London and Skrill’s offices all over the United States of America and Europe (Skrill, 2014). More than 36 million individuals with Skrill accounts receive and send money all over the world. It allows individuals to transfer money in 200 nations and uses 40 currencies.

Money transfer done by Skrill is secure and their transfer charges are low. On the other hand, this online payment method does not reveal the personal financial details of a client. Skrill’s global payment system allows businesses to spread their reach worldwide with more than 100 local options of paying funds. The needs of more than 156,000 businesses are met by Skrill. Moreover, this online payment method is a fully tailored and secure payment solution. In addition, Skrill’s products are accessible anytime, anywhere and for any individual.

This online payment service is simple and suitable (Skrill, 2014). Additionally, the company is well innovated and their customers have fully trusted the company making it be compelling. Secure PayThis online payment method is part of the Australia Post. This company has worked with many businesses in Australia for over 15 years. It has assisted over 40,000 businesses in acquiring and using e-commerce (SecurePay.com, 2014). Secure Pay is seen to offer different solutions to online payments. It has encompassed Secure Pay Online Payments which is a wide-ranging online payments solution and other different payment gateway solutions.

SecurePay offers the FraudGuard suite and level 1 Service Provider PCI DSS Compliance that assists a business to fight fraudulent transactions. PayoneerThis is an online payment method that connects countries, businesses, currencies, and professionals worldwide by the use of its cross-border payment platform. It enables millions of professionals and businesses from over 200 nations to reach one another by facilitating continuous payments. It is flexible, cheap, secure and fast (Payoneer.com, 2014).

It enables businesses and individuals in various countries to get paid and pay for goods and services globally.