Online Payment Such As Paypal, Venmo Or Zhifubao From China

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Contents TOC \o "1-3" \h \z \u Chapter 1 PAGEREF _Toc499919653 \h 31.0 Background PAGEREF _Toc499919654 \h 31.1 Research Questions and Hypothesis PAGEREF _Toc499919655 \h 5Chapter 2 PAGEREF _Toc499919656 \h 62.0 literature review PAGEREF _Toc499919657 \h 62.0.1 WorldPay PAGEREF _Toc499919658 \h 62.0.1 2Checkout PAGEREF _Toc499919659 \h 72.0.2 Moneybookers PAGEREF _Toc499919660 \h 8Chapter 3 PAGEREF _Toc499919661 \h 113.0 Methodology PAGEREF _Toc499919662 \h 113.0.0 Sampling Method PAGEREF _Toc499919663 \h 113.0.1 Respondents PAGEREF _Toc499919664 \h 113.0.2 Questionnaire PAGEREF _Toc499919665 \h 123.1 Summary PAGEREF _Toc499919666 \h 12Chapter 4 PAGEREF _Toc499919667 \h 144.0 RESULTS PAGEREF _Toc499919668 \h 14Figure 1. PayPal's Total Payment Volume PAGEREF _Toc499919669 \h 14Figure 2. PayPal's Total Sales PAGEREF _Toc499919670 \h 15Figure 3. Proposition of PayPal’s Total Payment Volume from Mobile Phones PAGEREF _Toc499919671 \h 16Figure 3. PayPal's Active Account Transactions PAGEREF _Toc499919672 \h 17Figure 5. PayPal's Share of smartphone market, by OS PAGEREF _Toc499919673 \h 184.1 Discussion PAGEREF _Toc499919674 \h 184.2 Conclusions PAGEREF _Toc499919675 \h 204.3 Recommendations PAGEREF _Toc499919676 \h 214.4 Limitations PAGEREF _Toc499919677 \h 21
Chapter 1
1.0 Background
The online payment system is an internet-based method processing system for economic transactions. It facilitates a vendor to accept payments over the website or other Internet connections, such as direct database link between retail stores and their suppliers in a conventional method of maintaining just-in-time inventories (Fisher & Michelle 324). Online payment systems significantly expand the reach of a business and its ability to make sales.
Online payment systems are run by third-party companies, such as PayPal, Google or Click2Pay. These companies make a profit by taking a small percentage of every transaction, or by signing contracts with institutions or organizations that need to make a large number of transactions. An extensive online storefront, such as Amazon.com, could not operate without the ability to take online payments. Online payment systems have flattened the playing field between small and large companies, as any of them can accept the similar payment methods once they register with third-party payment processors.
Online payment is as fast as the Internet, but many payment methods are regulated by national law or by the unwillingness of some merchants and consumers to work with residents of countries where government restrictions are lax. For example, Nigeria in Africa has not enforced fraud protection, which leads many vendors to disallow transactions originating from that country.
There are very few businesses that cannot benefit from taking part in an online payment system. Diversification in the use of online payment systems is vital to ensuring that a business's cash flow is not hindered by problems with a single vendor. PayPal was founded by Luke Nosek, Max Levchin, Peter Theil and Ken Howery in 1998 under the name Confinity. It was launched as money transferring platform in 1999. It was backed and funded by John Malloy from BlueRun Ventures, a...