Most likely not. Venmo is US concentric, whilst Western Union is available pretty much all around the globe. The problem that the two solve are inherently different. It is very unlikely for Venmo to achieve a global status of what WU has. For that to happen, Venmo would have to become a household name like […]
Possible? Yes. Worth your while? Questionable! Building a payment system is no rocket science in many cases. Put people in a room, give them enough coffee, white-board markers and sugary sweet delights, and soon enough they will come up with a payment system. There are 1,900+ payment systems in the world, yet, less than 1% […]
Possible? Yes. Can you do it today? No, Not yet. PayPal would most likely offer something like this later on, consider’s Square’s huge success in getting on the crypto-bandwagon market.
No, you are not allowed to use PayPal. You have to be at least 18 years of age. Assuming you’re in the United States, then the Terms of Service of PayPal cites the following: Welcome to PayPal! This user agreement is a contract between you and PayPal, Inc. that governs your use of your PayPal account and the […]
Why do we continue using expensive payment processors like PayPal and WU when there are inexpensive alternatives?
Brand Recognition: Which implies Trust and Network Outreach. Both Western Union and PayPal are large brands. Their brand signifies that a lot of people are well-versed with the name and procedures associated in sending/receiving money with these brands. There may be inexpensive alternatives, but that doesn’t mean, they are excellent as far as network outreach is concerned, […]
PayPal started as a payment concept and has now evolved to a payments ecosystem. It has created virtually one of the most recognized brands for payments across the world. Within PayPal there are many products. And they continually keep adding to it, by buying/acquiring more companies. Think Braintree, Venmo, Xoom, TIO Network, etc. The breakthrough products are […]
Nope. As of today, PayPal is not supported in Pakistan (traditional PayPal that is) and none of Pakistan banks are connected for PayPal payments.
As Paypal itself is not a bank, it uses various commercial banks as the licensed custodians for holding its customers’ money. So when you receive a payment, it is actually under an FBO account that is pooled under PayPal’s name with one of the commercial banks they use.