PayPal lets any business or consumer with an e-mail address securely, and cost-effectively send and receive payments online. Its network builds on the financial infrastructure of bank accounts and credit cards to create a global, real-time payment solution. PayPal delivers a product ideally suited for small businesses, online merchants, and individuals.
Register online for a free PayPal account and get $5 for signing up! Then enter the amount, and e-mail address it should go to. The recipient receives an e-mail prompting them to set up a PayPal account also. They can then choose to have the cash paid into their bank after three days or keep it with PayPal to spend on the Net. It is now also possible, legal, and more than 90% more cost efficient to use PayPal to send money overseas.
PayPal currently operates in North America, Scandanavia, the UK, France, Germany, Spain, the Netherlands, Australia, New Zealand, Japan, Singapore and Hong Kong and is till expanding rapidly. Exchange rates are similar to those offered on High Street credit cards and are usually better than the local exchange rate.
PayPal was recently acquired by US online auction powerhouse eBay, and is located in Mountain View, California. PayPal is the 2002 SIIA Codie Awards winner for "Best eCommerce Solution" and is recognized by PC Magazine as one of "The Top 100 Web Sites."