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Organization Credibility essay
← America’s Most Admired CompaniesInternational Business News →

Organization Credibility. Custom Organization Credibility Essay Writing Service || Organization Credibility Essay samples, help

This research paper outlines the organizational credibility of PayPal as an online financial service provider. PayPal is an international online business that offers online financial services such as money transfers and payments. As an agent for online money transfer, PayPal serves as one of the provider of electronic transactions alternatives. The company claims to offer a safe and easy alternative to pay and earn via the internet. Indeed, they allow individuals to transact through various ways of preference such as bank accounts, credit cards, and PayPal’s own “Smart Connect.” (PayPal, 2013)

The History of PayPal

The year 2002 saw eBay acquire PayPal for approximately USD1.5billion. Previously, PayPal had grown into becoming the most preferred payment option by most of eBay users. Over the years, eBay tries to dictate its position in the online financial services industry by directing its sellers use PayPal as the most preferred payment channel. Other accepted payment channels include direct bank deposits, money orders, escrow, credit cards, and checks.

As at late 2011, PayPal was operating across 190 financial markets by managing over 233 million accounts, most of whom were considerately active. PayPal allows its customers to transact in over 25 world currencies. Some of these include the US Dollar, the Australian Dollar, Canadian Dollar, the Euro, and Sterling Pound among others. While PayPal runs as a local company in 21 countries, most of its customers in the markets have the exclusive ability to use PayPal as a transactions agent (Crawford & Grabianowski, 2012).

Its annual revenue streams as at early 2009 had increased to USD 643billion, most of which came from international financial transactions. The company’s total payment volume had also increased over the same period to over ten percent. Recently, the company accounts for most of eBay’s revenue streams to a tune of over 40%. It has been a recipient of over 20 international awards from the international business community. The most renowned ones include the 2006 WPVA and WA for best financial service web site (Crawford & Grabianowski, 2012).

Competitor Analysis

PayPal faces a number of competitors that offer similar internet financial solutions. Some of them include Wire Card, Money Bookers, and Google Checkout. However, as an attractive financial service provider, PayPal’s most notable competitors include the following.

First, it faces stiff competition from internet moguls such as Google Checkout and Amazon Payments Solutions. Secondly, plastic card companies such as Visa and American Express also threaten to dish out a considerate amount of competition. Thirdly, the company experiences cut throat competition from direct service competitors such as Intuit, Money Bookers, and Sage Pay. Lastly, the industry continues to stream with new market entrances with more exciting solutions. They include Square, Buyster,, and ISIS among others (eBay, 2012).

Critical analyses show that PayPal and Google Checkout, as big internet players, offer their services within the same range of costs. However, vis-à-vis et al, under the assumption of similar costs across markets, PayPal seems to possess a great global appeal. Furthermore, the company offers its services as a payment option to only to partner stores such as HP, Dominos, Argos, and Universal among others. Contrarily, the competition seems to have their payment options across partner and small-scale online stores.

PayPal portrays the desirable image of being best prepared in the ease of use, curbing internet fraud, and the irrelevant share of information. Thus, it leads in making Business-to-Customer and Business-to-Business payments using modern technology. Indeed, the online business environment heavily depends on adequate networking (eBay, 2012).

The Company’s Vision, Mission, and Value

The company sees a clear vision in online financial transaction. Thus, it aims at being the global standard solution for most online financial transactions. The company adequately achieves in this vision as in pioneered the creation of new online shopping experiences. Currently, it ensures that their customers can shop and transact with utter ease.

The company claims to value its customers by offering an online platform that facilitates simple and secure payment options set upon a variety of sites. Indeed, unlike credit card payment options, their service does entail the share of critical bank information. It only requires essential login details such as passwords and email addresses (PayPal, 2013).

PayPal’s mission statement directs that the service offers its users the most preferred payment solution through bank, buyer credits, credit card transaction, and balances without a share of financial details. PayPal has grown into becoming an acquirer that performs payment processing for various online players such as vendors, auction, and other commercial sites. It also charges certain fee rates for sending and receiving money proportional to the amount under transaction (PayPal, 2013).

Criticism, Pros and Cons

PayPal has been on both sides of the publicity coin. For instance, in 2012, notable stakeholders accused it of being slow and bureaucratic. This negative image prompted a series of layoffs and strategic reorganizations in an attempt to acquire the required structure. Furthermore, their newsroom site page receives a number of complaints from customers based on delayed payments and leakage of sensitive information (Samuels, 2012).

The year 2011 saw PayPal involved in a battle concerning their policy of holding onto 30% of individual transactions for three months. The company argued that the move is necessary for customers who carry out fraudulent transactions. During the same year, the company held on to Regretsy’s account even though the frozen funds belonged to charity. After a series of public outcry, it had to reinstate the account, apology, and donate towards the owner’s cause (Samuels, 2012).

In conclusion, despite these entire negative images, PayPal continues to reorganize its culture and offer some of the quality transactions to millions of uses. It does so through referral bonuses, low transaction fees, investigating cases of online fraud, and enjoying an online presence on the sites of most online merchants. The company also launched mobile services to allow its users conduct transitions using their mobile phones. Thus, PayPal is a living example of credible organizations.

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