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TOURPARTY - GREAT VALUE, UNFORGETTABLE ACTIVE HOLIDAYS & SPORTS CAMPS IN BASKETBALL WITH HOOPERS BASKETBALL CAMPS, IN FOOTBALL WITH KICKERS SOCCER CAMPS, IN ROLLER HOCKEY WITH RHUK, IN SKIING AND SNOWBOARDING WITH TOURPARTY. ABOUT PAYPALThe following introduction to PayPal is adapted from : Background PayPal is an Internet business which allows the transfer of money between email users and merchants, avoiding traditional paper methods such as cheques and money orders. PayPal also performs payment processing for e-commerce vendors, auction sites, and other corporate users, for which they charge a fee. Corporate headquarters are in San Jose, California; it is now an eBay company (a wholly owned subsidiary of eBay). History PayPal was founded in December of 1998 by Peter Thiel and Max Levchin. In its initial incarnation, PayPal was a service for users to send money via PDAs, with actor James Doohan, Star Trek's "Scotty" as its spokesman. The PDA software was later discarded in favor of a web-based system that became popular with eBay's millions of buyers and sellers. Coupled with aggressive marketing campaigns offering $10 (and later $5) for new users to sign up, the firm grew at a meteoric rate of 7-10 percent per day between January and March 2000. To block automated systems from fraudulently registering accounts, PayPal devised a system of making the user enter numbers from a blurry picture; according to Eric M. Jackson, author of the book The PayPal Wars, PayPal invented this system whch is now in common use. In October 2002 PayPal was acquired by eBay. PayPal had previously been the payment method of choice by more than fifty percent of eBay users, and the service competed with eBay’s own payment system called "Billpoint". eBay has since phased out its Billpoint service in favor of retaining the PayPal brand. Most of PayPal’s major competitors have also phased out, most recently Western Union’s BidPay closed in December 2005, Citibank’s c2it service closed in late 2003, and Yahoo!'s PayDirect service closed in late 2004. In Q1 2006, the total value of transactions through the PayPal system was $8.8 billion, up 41% year over year. The company continues to focus on international growth and growth of its Merchant Services division, providing online payments for retailers off eBay. In 2005 the total payment value on PayPal was 27.5 billion dollars according to the corporate presentations on Ebay's website. Today As of the end of Q1 2006, PayPal operates in 55 markets (including China) and it manages over 105 million accounts. Every second PayPal processes an average of $1,128 in total payment volume. PayPal supports payments in U.S. Dollars, Canadian Dollars, Australian Dollars, Euros, Pounds Sterling and Japanese Yen. PayPal’s operation center is located near Omaha, Nebraska and PayPal’s international headquarters is located in Dublin, Ireland. PayPal has received more than 20 awards for technical excellence from the Internet industry and the business community at large, most recently the 2005 Webby People’s Voice Award for the Best Financial Services Site and the Electronic Payments International Award for Best Non-Card Payment Product 2005. Bank status PayPal’s service builds on the existing financial infrastructure of bank accounts and credit cards and uses one of the world’s most advanced proprietary fraud prevention systems. In the United States, PayPal is licensed as a money transmitter on a state-by-state basis. Although PayPal is not a bank, the company is still subject to and adheres to many of the rules and regulations governing the financial industry including Regulation E-consumer protections and the USA Patriot Act. WWW.MYSPACE.COM/TOURPARTY PROFILE & BLOG:
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