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As more of our banking transactions are being done online, it is important to keep up to date with the latest options for making online payments. These days, PayPal still remains at the top of the list. Of course, as new payment technologies and merchants enter the market, PayPal has had to adapt and evolve to stay on top of its competitors. The company has come a long way from its humble beginnings in the dot com boom of the late nineties, and it is quite impressive that it has managed to keep its position in a highly competitive and volatile market. 

In this article, we will delve into PayPal and why it’s still considered one of the best platforms for sending and receiving money, and why some of the best-known online companies still prefer to use this payment platform for their business.

PayPal Origins

Originally founded as Confinity back in 1998, it was a company that aimed to develop security software for handheld devices. As this was not a fruitful venture, they switched their focus to digital wallets in 1999 and merged with Elon Musk’s company in the year 2000. By 2002 they became a subsidiary of, and this is where the payment platform that we know today first came into use.

Twenty odd years later, PayPal exists as an easy-to-use service platform that enables two people or organisations to exchange money. It is a straightforward way to send money to friends or family or make purchases and has become popular for both personal and professional use, resulting in an enormous number of people using the service regularly. 

As of March 2022, there were 429 million accounts operating on the platform. This number continues to grow as more shopping is done online than ever, so more people are looking to enjoy the benefits of using PayPal for their online transactions. Advantages of using PayPal

There are many reasons why PayPal is so popular even with in such a competitive industry. Here are the top three reasons PayPal is still the market leader for online payments:

  • It is flexible and helps with sales

PayPal is straightforward and flexible when it comes to digital transactions. It is easy to integrate with your website and offers a range of point-of-sale systems if you want to use it for in-person sales.

The chip card reader from PayPal helps you to receive payments and also accepts Apple Pay and Google Pay. This willingness to be compatible with other popular payment systems is one of the key components of the companies’ success.

  • It is secure

We all know how important it is to keep our data safe. These days, cyber-attacks are increasingly common, and hackers are becoming a lot more sophisticated. One of the main advantages to using PayPal is it uses a centralised system to keep your private information safe through encryption. 

This makes it attractive to people using services that require regular monetary deposits, such as online subscriptions or even online casinos. According to, online casinos that accept PayPal are considered to be the most trusted and secure options for online players. For subscription-based services like Spotify and Netflix, it is also a great way to make sure that your monthly payments are being taken in a safe manner.

PayPal also has an extra level of security and helps to protect you from fraudulent activity. Should you make your purchases via PayPal and end up being a victim of fraud, you can claim the money back. It is definitely a bonus and gives consumers a larger degree of confidence when shopping on your site if they can make payments through PayPal. 

  • It is cost-effective

PayPal can be a cost-effective choice when it comes to making online payments, depending on what you’re using it for. There are no fees for sending money to friends or family, or for personal use. However, if you are sending money through PayPal for a business transaction you will be charged fees.

If you want instant access to your funds, PayPal does charge a 1% fee. If you are happy to wait a few working days, you can access your money for free. PayPal can also be a great option if you’re looking to make international transactions. Funds are delivered quickly and safely for a comparatively low cost. 

Where can you use PayPal

PayPal was originally built as a way to easily make payments through eBay. These days, PayPal is used by people sending money to the friends, online consumers, in person shoppers, businesses and more. There is a vast number of brands that accept PayPal for their transactions. These include clothing retailers like ASOS and Zalando, airlines like Ryanair and many more.

You can also use PayPal for most online subscription services, like Spotify, Netflix, Patreon and Soundcloud. 

Is it worth signing up to PayPal?

Whether you are a business or just want to use PayPal to send money to friends and family securely, PayPal’s advantages outweigh the cons. It is still one of the best options for making online payments. As PayPal a leading brand, they continue to innovate to make their service one of the best ones on the market. PayPal is definitely one of the legacy brands from the fintech space and it looks like it is here to stay.