Assignment #2: Paypal

1. Paypal is a safe, and secure way to transfer your money from the bank, and credit or debit cards, to online sellers that allows buyers to avoid giving up all the unnecessary information about their accounts.

2. Using their methods of security when locking away all of your given information is one way that Paypal keeps you, and your identity, safe from online stores. They do not give any access to your private files to the sellers, all they receive is the money that you owe, and that is all. This way, there is no risk of the companies or sellers, stealing your personal information, and possibly your identity.

3. The money that Paypal makes comes solely from the sellers themselves. They charge a small fee to the companies for using their resources.

4. Paypal protects you from theft by looking into the issue. If it is found that something has gone wrong, and you are eligible, they will use their Purchase Protection program. This program will then reimburse you for the full price of the item and the original shipping costs. (https://www.paypal.com/ca/webapps/mpp/paypal-safety-and-security)

5. If I started a business I would allow payment using Paypal. This process is quick, and efficient, and it would give my buyers a feeling of security. They would never question my business and it's integrity because they would always be a top priority with Paypal.

6. Personally, I prefer Paypal to Google Wallet. Both companies have the same idea, to allow their users to transfer money safely, but Paypal has more options. Unlike Google Wallet, Paypal can transfer your money to almost anywhere in the world, where Google Wallet only transfers to the US. As well, for me, Paypal seems like the safer choice. Google Wallet does not have a backup program for theft, that I've seen, Paypal does. In the end, it just comes down to the safer, more efficient company.