Question

PayPal is quickly becoming one of the most popular methods of payment in E-commerce, and is available in many Caribbean countries. Although it is not a free service, it does offer full integration into most sites so that customers are sometimes not even aware that they are using PayPal to make the purchase. Use the Internet to obtain information about PayPal, and how it helps customers with making purchases online. Share your opinion on whether electronic money could be the money of the future. Conduct research using the Internet on electronic money, or e-money, and digital cash. Argue for or against the usefulness of e-money and digital cash

Answer 1

PayPal Holdings, Inc. is an American company which operates across world on online payments systems that supports online money transfers and also serves as an electronic alternative for the traditional kind of paper based money transfer.It helps in

• Send or receive money
• Supports for online auction for sites such as e bay and other websites
• Exchanging cash with some one
• Purchase or sells goods and service

It also enables add and withdraw option of money and provides huzzle free transaction of money in electronic way. It has mobile application as well which provides instant transfer of money through app.Other options consists of paypal dbit card to do some transaction for purchase or wtihdraw money from the ATM.It make use of encryption software for transfer of money .

Electronic money can be considered as money for future. People tend to reduce transaction of money through paper notes and it is more conveninent and safe to transfer money via paypal kind of online network through electronic way. Most of the banks across global also use electonic fund tranfer which has user based security and also helps to monitor and control the transaction activities. It helps in reducing circulation of black money and other fake note transactions.