Why we use PayPal.

Many of our customers and partners have asked why we built our service with PayPal as the only transaction engine. Simply stated, we believe PayPal has created the safest, easiest-to-use, and most cost effective platform for businesses and individuals to send and receive money. Accordingly, it is our belief that this method of electronic money exchange will become a widespread phenomenon over the coming years.

Why should you rely on PayPal for your transactions? Here are a few points about PayPal:

PayPal offers one of the safest platforms for online commerce with fraud rates at a fraction of those of typical e-commerce offerings.
PayPal offers ease and flexibility, accepting all major credit cards (Visa, Mastercard, Discover, and American Express), as well as all major debit cards and direct transfers.
PayPal offers low merchant rates with no set up or recurring costs.
Financially, PayPal has shown tremendous business fundamentals:

PayPal successfully completes over 200,000 transactions per day with over 15 million accounts in 39 countries worldwide.
PayPal is processing over $12 million in payments per day and has transacted over $5 billion in total payments since launching in 1999.
While virtually all technology companies have languished in these difficult economic times, PayPal has shown tremendous growth.
PayPal is cash-flow positive with over $150 million in cash in the bank.
We have chosen to build our business on PayPal given this company's phenomenal success and achievements. We hope you can share our confidence here as well. See PayPal's Prospectus online for more information on their fundamentals.

Founded by Peter Thiel and Max Levchin, PayPal is a publicly traded company headquartered 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."

How it works:

Step 1: Bob goes to SWE's website and presses the "Add to Cart" button. When he has chosen all of the items he wants, he presses the "View Cart" button.

Step 2: Bob looks at the contents of his cart and presses the "Checkout" button.

Step 3: Bob is taken to a PayPal Payment Details page which shows the items he has added to his Cart.

Step 4: Bob is prompted to login to his PayPal account, but since he is not already a PayPal member, he follows the instructions at the top of the screen.

Step 5: To pay for his purchase, Bob is prompted to add a credit card enter his email address and password, creating his new PayPal account.

Step 6: Bob is taken to a Confirmation page containing the details of his payment. The Shipping costs are automatically added to Bob's order. He presses the "Pay" button to complete payment.

Step 7: Bob is taken to a Confirmation page where he sees the details of his successful payment. He is also given SWE's customer service email.

Step 8: Bob receives an email receipt for this transaction, confirming payment and including a copy of the Payment details.

What others have to say:
(Wall Street Journal)