Circle Pay App

Finance allah shmoop What is pai pao All right Well

in the beginning there were rocks And then there were

animal helps Then beads and jewelry then cash then credit

cards on dh Finally today papal Yeah So the history

of payment technology has seen some changes paying for stuff

quickly and easily using a few folded bills in your

wallet Is gray paying for that stuff while in your

ninja turtle One z pajamas from the comfort of your

lazy boy violence Even better So yeah paypal is an

electronic payment system that takes paying for things online with

a credit card One step further It's still routes payments

through the user's bank But everything can be done with

the well it's Just the click of a button once

you've linked paypal to your bank account Well there's no

more typing in long strings of numbers digging a credit

card out of your back pocket to check the security

code and dates and all that on that business you

just say yes Thank you kindly I would liketo buy

these anti gravity boots via paypal And just like that

those boots are well on the way to your front

Door for better or worse you know provided they've been

weighted down enough space Well paypal was originally created to

help people pay for mostly ebay purchases specifically as well

as you know a few adult art films but as

of two thousand fifteen well ebay and hey pal have

been separate companies You know breakups are hard So these

days paypal is just well doing its own thing helping

people everywhere process their monetary transactions How sweet and philanthropic

of papal to do that right They do it all

for free Yeah No not at all They don't do

it all for free In fact they're pretty expensive Paypal

is in the business of making money there A publicly

traded company Well how did they do that Well two

ways Mainly First they collect a service feet on transaction

Almost the time As long as you're just a sending

twenty bucks it's a mom for her birthday or to

your buddy kin for your entry into the football pool

Well the transaction is free to you but a merchant

i eat Anyone selling a product pays a fee on

every transaction Generally that fee is anything ever take about

Thirty cents per transaction And then there's a small surcharge

In addition based on the percentage in the size of

the transaction right Well the other way papal makes money

is by earning interest on all that money sitting in

your account like it's just sitting there And then they

invest it and they make more in interest than you

do Just sitting with cash Right Five hundred fifty dollars

You've been socking away online for a rainy day Well

paypal has been making it rain because they invested in

Yes Maybe they only make two per cent of that

money and interest But there are a lot of people

let money sitting there Paypal account So with billions or

tens of billions or hundreds of billions of dollars making

two percent two papal with almost no costs associated with

that that's Pretty margin friendly kind of business right Add

it all up and pay pallor doing just all right

for themselves So yeah until the next great revolution in

quick and easy payment processing happens Paypal and other similar

sites like venmo and apple pay and maybe stripe Well

there are where it's at Still a little tricky to 00:03:21.005 --> [endTime] trade your animal pelts though for all that dollars