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How PayPal has Changed the Way We Spend Expendable Income

business-woman-1434836_640PayPal has grown to one of the world’s largest and most recognized online money transfer systems, and has been around for a long time – probably longer than many people realize. PayPal and other online wallets that are similar in what they do, have changed the way we spend our disposable income. Whether it’s online or on a trip to the local supermarket, PayPal is almost unavoidable. You can even look for online casinos that accept PayPal, which has been a huge step up in terms of security and speed for depositing and withdrawing money.

When it comes to disposable income, if people aren’t putting it away to save, they are ultimately spending it on something that they want. eBay purchased PayPal in 2002 for $1.5 billion and the site, along with the online payments company hasn’t looked back since. The electronic payment system of PayPal doesn’t just provide a new way to spend online, you can also use it in bricks and mortar shops.

The PayPal app allows you to securely move and manage any money, no matter where you are in the world with just a mobile number or email address. You can also use it to spend in a shop, through contactless with the PayPal phone app. The app generates a barcode which is scanned by the shop and the app is also protected by a PIN number. With the rise of phone payments available through apps such as the PayPal app, people are beginning to leave their wallets and purses at home and simply carry their mobile phones with them on a night out.

Now, PayPal is a separate entity to eBay, which means it can be free to use on other competitive markets, such as the likes of eBay competitors Amazon and Alibaba. This has led to a wider acceptance of mobile payment and could lead to a further growth in the concept. Technology experts believe that PayPal will strike deals with the likes of Google and Apple, in order to grow their mobile payments base.

PayPal is now beginning to change the face of banking, and in the US, PayPal Holdings Inc. holds more customer money than all but 20 U.S. banks. PayPal allows its customers to put money into their account to further control their spending habits. Although they can gradually top up their account, or link their credit/debit card to their account for a smooth transaction, you can simply use PayPal as a way to help you to cut down on your spending habits, when it comes to your disposable income.

Whether it’s purchasing a new dress in the store, or ordering your partner’s birthday present online, PayPal has rapidly evolved spending habits when it comes to disposable income. It is a safe and secure way to play online – whether you’re looking at your favourite online casino, or purchasing a new game. With more and more people looking to shop online, or looking for a new way to spend without having to take out a handbag or a wallet, PayPal has quietly revolutionized the way we spend – and it’s not done yet.

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James

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