Applications have made lives easier, from air conditioners that are controlled by remote to apps supporting on and off functions on the smartphone. Things are getting simpler day by day. Even talking about transactional apps like PayPal, Paytm, PhonePe, these have been proven secure way of transferring funds within seconds.
However, there comes a website, buy me a coffee where people get stuck since it too is related to the payments and monetary analysis. But PayPal and buy me a Coffee is way different from each other.
Buy me a Coffee vs PayPal
The main difference between buy me a coffee and PayPal is that buy me a coffee is a platform where donations are accepted and supports crowdfunding and fundraising options, but PayPal is simply an application that enhances the transactions and transferring of funds across the world. Buy me a coffee accepts donations, while PayPal is meant to transfer money.
Buy me a coffee is a website designed to raise funds and do crowdfunding by the fans. Well, this is an application where creators, YouTubers, and online celebrities meet with their fans and arrange calls when they hit that buy me a coffee button redirecting them to make payments to organise all of them.
PayPal is, however, an application that deals with transferring of funds and international transactions. This has nothing to do with crowdfunding and fundraisers as it simply deals with monetary works. Developed by Elon Musk, the founder of SpaceX and Tesla, this app was developed in the late 20th century.
Comparison Table Between Buy Me a Coffee and PayPal
| Parameters of Comparison | Buy Me a Coffee | PayPal |
| Definition | Buy me a coffee is a crowdfunding and fundraising website. | PayPal is an application dealing with online money transfers across borders. |
| Online payments | Buy me a coffee is quite less relevant since it deals with creators and YouTubers. | PayPal has all dealings with online transfers of money to anyone. |
| Platform | Buy me coffee isn’t a payment platform. | PayPal is solely designed to meet the monetary challenges and eliminating time consumption. |
| Founder | The co-founder of buying me a coffee is Joe Sunny. | The founder list of PayPal is Ken Howery, Elon Musk, Luke Nosek, Max Levchin. |
| Founding year | Buy me a coffee was founded in 2018. | PayPal was founded in 1999. |
What is Buy Me a Coffee?
Well, creators and artists are hailing on the social media platforms, and that encourages the fan following to follow the trends and latest designs as these celebrities follow. It’s no new that people are going gaga and getting attracted towards them and wishes in dreams to meet one of the many famous people.
Buy me a coffee is a platform that provides interaction with fans and make sure people get what they want. It works as a crowdfunding source that raises funds by tapping the buy me a coffee button when visiting the website of the specific personality. People confuse themselves as it’s a payment platform that transfers funds to anyone.
It was founded in 2018, and buy me a coffee is based in San Francisco, backed by leading investors who have put their money and faith in raising the bars of trust and hope on buying me a coffee. Investors like Y Combinator, Aaron Levie, And Ankur Nagpal. Well, there are more than 3 lac creators on buying me a coffee with millions of fans using the app.
Official payment partners include Stripe and PayPal. It’s made for fans. They accept all kinds of credit cards, Paypal accounts, apple payment management, Google Payments as well diversifying the payment world and unlocking several options for the user in a go. They don’t charge any monthly or annual fee buys, yes, they charge a 5% transaction fee, and creators keep 95% of the money.
What is PayPal?
Well, payments have been an integral part of exchanging commodities and services across the globe. It’s the money and monetary values that had been in existence for thousands of centuries. Things weren’t easy as it’s now and this second. People used to travel to banks to make a money order to someone sitting miles away.
That process took weeks, months. But ideas kept on arising, giving birth to new implementations. It was 1999 when the concept of online Payments arose, Revolutionizing the world with the app PayPal. It’s solely meant for transferring funds across continents in a blink with negligible chances of failures amid transaction.
PayPal founder’s list includes Elon Musk, Ken Howery, Luke Nosek, and Max Levchin. Its headquarters are located at 2211 North First Street San Jose, California, United States of America. Well, it offers transactions from credit cards, debit cards, from a bank account to a bank account and from internet banking as well.
PayPal’s revenue as of 2019 survey us around the US 17.772 Billion dollars and operating income was 2.719 billion USD. Indeed it’s a giant supporting many types of transactions across borders and hassle-free ones. There are around 21,800 employees as od 2018 survey working hard and all day to make this payment mode the very solution to all the problems.
Main Differences Between Buy Me a Coffee and Paypal
- Buy me a coffee is crowdfunding management, while PayPal is a payment transferring solution firm
- The investors include Ankur Nagpal, Y Combinator, Aaron Levie, while Elon Musk, Nosek, Max Levchin are few investors of PayPal.
- Buy me a coffee was founded in the year 2018, while PayPal was founded in 1999.
- Buy me a coffee has more than 300,000 creators with millions of fans, while the user’s count of PayPal is 300 million users.
- Buy me a coffee is based in San Francisco, while PayPal is based in San Jose, California, United States of America.
Conclusion
It’s the time which is the greatest. Indeed it’s possible to even connect with your fans and to make the transactions anywhere around the corner while sitting on a cosy bed. Yes, ideas have changed and transformed the way we perceive things and the way we work.
Improvisations are equally important to make the user experience way beyond imagination. Either it’s PayPal or the buy me a coffee, things like these are a blessing and blissful.
References
- https://dl.acm.org/doi/abs/10.1145/3357236.3395446
- https://heinonline.org/hol-cgi-bin/get_pdf.cgi?handle=hein.journals/ucdbulj16§ion=14