Technology is changing day after day, especially the money market and how we process payments. PayPal is one of the pioneers in this field which helps the world to be more connected and to shop from anywhere.
The internet and e-Commerce have helped the world to become a cashless society, as everything narrows down to zeros and ones.
This history shows us that the traditional ways of transferring funds are evolving. The need to access your funds and the ability to offer payments to everyone from everywhere is what the internet is all about. In fact, this is where PayPal stepped in and became a pioneer in this field.
PayPal was created by merging two companies: Confinity and X.com. In the beginning, Confinity was a company that offered security for handled devices, and X.com was an online banking company.
With these two companies merged into one, the creation of PayPal was born. They revolutionized the payment method in the e-Commerce world, simplified it, and made the possibility for a big part of countries in the world to use it. This revolutionized payment method was attractive for e-Bay, and they bought the company in 2002, which helped e-Bay offer their customers a secure and fast payment method.
PayPal connected a big part of the world and made e-Commerce payments available for most of the people. This is where chatbots will jump in, as the world is not entirely connected; there are countries that PayPal doesn’t support payments from.
2. International Payments
By accepting international payments 24/7, with the use of messaging Apps and social media, chatbots are simplifying the traditional payment method.
Bitcoin is the most significant and most reliable digital currency in the world. Accepting bitcoins as a payment method will avoid some of the transaction fees that traditional banking has.
4. Faster Payment Methods
Using a chatbot that will provide a payment method will help companies receive their money faster. The conventional banking system for businesses has a waiting period of two business days. This type of transferring funds through accounts is making some companies struggle with their fund availability and makes it harder to reinvest the money, when needed.
Chatbots will continue the revolution that PayPal has started and will simplify the method of making online payments.
Final Thoughts with ChattyPeople
Chatbots will provide enterprises better solutions that will help acquire more customers by presenting new methods of payments. Bitcoin is one of these payments, and the need to process payments with cryptocurrency is something that will naturally occur in the next few years.
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Posted by Slobodan S.