{"id":1355,"date":"2020-08-25T00:39:00","date_gmt":"2020-08-25T00:39:00","guid":{"rendered":"https:\/\/www.kaashivinfotech.com\/tutorial\/?p=1355"},"modified":"2020-08-25T00:43:17","modified_gmt":"2020-08-25T00:43:17","slug":"why-tech-developers-cannot-ignore-the-rise-of-paypal","status":"publish","type":"post","link":"https:\/\/www.kaashivinfotech.com\/tutorial\/why-tech-developers-cannot-ignore-the-rise-of-paypal\/","title":{"rendered":"Why Tech Developers Cannot Ignore the Rise of PayPal"},"content":{"rendered":"<p>PayPal is a name that has become impossible to ignore in the fields of business and technology. Credit cards and debit cards have long been established as the default options for quick payments, both physically and electronically, but PayPal has emerged as the third major payment method. Any company or website that wants to position itself at the cutting edge of its industry is now\u00a0<a href=\"https:\/\/developer.paypal.com\/docs\/archive\/checkout\/integrate\/#set-up-your-development-environment\">expected to consider introducing PayPal functionality<\/a>, such is the popularity of the service.<\/p>\n<p><iframe loading=\"lazy\" style=\"border: none; overflow: hidden;\" src=\"https:\/\/www.facebook.com\/plugins\/post.php?href=https:\/\/www.facebook.com\/PayPalUK\/photos\/a.167733186570316\/787945814549047\/?type=3&amp;width=500\" width=\"500\" height=\"535\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h2><strong>An increasingly popular payment method<\/strong><\/h2>\n<p>The first version of the PayPal electronic payments system surprisingly launched in 1999, but it is only in the last few years where the payment service has become a true global phenomenon. You&#8217;ll now frequently see PayPal&#8217;s name alongside those of Visa, Mastercard, and American Express. That could be at an online retailer&#8217;s checkout, in a shop window, or even as a range of answers in one of the questions from\u00a0<a href=\"https:\/\/www.kaashivinfotech.com\/current-affairs-november-06-2018\/\">our KaaShiv InfoTech Current Affairs quiz<\/a>\u00a0from 6 November 2018.<\/p>\n<p>As of the first quarter of 2020, there are 325 million active PayPal accounts globally, which represents a 17% growth from the same period in the previous year. In 2019, PayPal facilitated 12.4 billion transactions, with a total payment volume of $712 billion, and generated over $17.7 billion in company revenues. Those staggering statistics tell the story of a company that is firmly on the rise.<\/p>\n<p>Those user statistics mean that PayPal integration is going to be an important challenge for anyone involved in online shopping, web design or app development, which are\u00a0<a href=\"https:\/\/www.kaashivinfotech.com\/services\/\">three of our KaaShiv case studies<\/a>. The successes of global brands so far in adopting PayPal indicate that the challenge is definitely one that&#8217;s worth meeting, as PayPal inclusion is now becoming a marker of a brand that is technologically forward-thinking.<\/p>\n<h2><strong>The big brands that have embraced PayPal<\/strong><\/h2>\n<p>In 2015, PayPal spun off from eBay into a privately-traded company, with the e-commerce giant also taking the decision to stop pushing PayPal as a payment method. This move could have been bad news for PayPal&#8217;s reputation, but the service has since gone from strength to strength. Rather than simply being associated with one brand in the form of eBay, PayPal is now associated with multiple brands across multiple industries.<\/p>\n<p>PayPal still has a presence in the e-commerce industry.\u00a0<a href=\"https:\/\/www.asos.com\/customer-care\/payment-promos-gift-vouchers\/how-do-i-use-paypal-to-pay-for-my-order\/\">ASOS is a popular UK fashion website<\/a>\u00a0that ships to 196 countries, with PayPal allowing customers to make speedy transactions. Sports brand Adidas and tech giant Samsung are two more companies that allow PayPal payments for e-commerce purposes, which is testament to the speed and security of the service. PayPal&#8217;s popularity goes beyond one-off retail purchases, as it&#8217;s also a payment option for Netflix subscribers.<\/p>\n<p>The service also enjoys prominence in industries where transactions need to go both ways. Prominent\u00a0<a href=\"https:\/\/livecasino.betway.com\/andar-bahar\/\">live casinos like Betway\u00a0<\/a>have begun taking PayPal which is noteworthy as their reputation depends on an ability to transfer funds swiftly and safely. Those qualities made PayPal so popular on eBay initially, which is why the online marketplace Bonanza has also adopted PayPal.\u00a0<a href=\"https:\/\/support.bonanza.com\/hc\/en-us\/articles\/360001149832-How-to-Accept-PayPal-Payments\">Buyers and sellers that use Bonanza<\/a>\u00a0can both benefit from PayPal payments, with money again travelling in both direction.<\/p>\n<h2><strong>Applications for the future<\/strong><\/h2>\n<p>The adoption of PayPal by those global brands in the e-commerce, streaming, and iGaming industries, as well as by an up-and-coming online marketplace, bodes well for the future. In fact, there is no longer any doubt that PayPal is here to stay. As reported by Finextra in May 2020, PayPal has rolled out QR code payments to 28 markets across the world, which shows how the company is continuing to innovate in the electronic payment industry.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.pixabay.com\/photo\/2017\/03\/13\/17\/26\/ecommerce-2140604_1280.jpg\" \/><\/p>\n<p>IMAGE SOURCE: Pixabay.com<\/p>\n<p>PayPal&#8217;s continued evolution will give everyone from business owners to website builders plenty to think about in the coming years. It even featured as part of\u00a0<a href=\"https:\/\/www.kaashivinfotech.com\/mini-projects\/\">our course of Mini Projects for CSE<\/a>, with PayPal integration set to be a key task for the tech developers of the future. Can PayPal ever usurp credit cards and debit cards as the most dominant payment method? That might be a step too far, but PayPal is definitely at the stage now where it should be considered on a par with those traditional payment methods.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PayPal is a name that has become impossible to ignore in the fields of business and technology. Credit cards and debit cards have long been established as the default options for quick payments, both physically and electronically, but PayPal has emerged as the third major payment method. Any company or website that wants to position [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[610,1,713],"tags":[714,720,727,737,730,736,729,728,724,723,734,732,733,731,739,738,735,718,726,716,721,719,722,717,725,715],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why Tech Developers Cannot Ignore the Rise of PayPal - Tutorials | KaaShiv Infotech<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kaashivinfotech.com\/tutorial\/why-tech-developers-cannot-ignore-the-rise-of-paypal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Tech Developers Cannot Ignore the Rise of PayPal - Tutorials | KaaShiv Infotech\" \/>\n<meta property=\"og:description\" content=\"PayPal is a name that has become impossible to ignore in the fields of business and technology. Credit cards and debit cards have long been established as the default options for quick payments, both physically and electronically, but PayPal has emerged as the third major payment method. 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