New integration with payment giant PayPal
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New integration with payment giant PayPal

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Integrations has recently established a new integration with payment giant PayPal. Established in 1998 as Confinity, PayPal had its initial public offering (NASDAQ: PYPL) in 2002 and became a wholly owned subsidiary of eBay later that year. In 2014, eBay announced plans to spin off PayPal into an independent company by mid-2015 and this was completed on July 18, 2015.

PayPal is now with 19.5 million businesses and 250 million customers using its payment rails to sell and buy goods and services. The company has launched Funds Now, instant payouts to businesses using PayPal for their transactions last quarter 2018. There is no upper or lower limit on FundsNow payouts, and they will apply to any payments made via PayPal, mobile or otherwise.

Millions online stores include PayPal is a payment option alongside taking credit card information directly. Purchases made with a select few online retailers may include a discount from PayPal or a cashback offer of some sort. PayPal also offers its own branded credit, made possible through Synchrony Bank. Those who are approved will be supplied with MasterCard credit cards. The company also offers debit cards, including prepaid cards.

Marketplaces — which will be one of the primary places where FundsNow will come into its own on the platform — account for some of the highest volumes of transactions for PayPal. Once a part of eBay, but more recently spun off into an independent company, PayPal still is the biggest payment processor on eBay, although eBay only accounts for about 12 percent of all of PayPal’s transactions globally.

Want to set up a PayPal business account to accept credit, debit, PayPal and PayPal Credit almost anywhere you do business? In a few simple steps, your account will be ready to use.

When you’ll obtain a valid merchant account credentials, you can connect it in Providers Hub with a few clicks and instantly go live.

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