Bangalore: Non-banking financial companies (NBFCs) or non banks are fast emerging as an important segment of Indian financial system. It is a diverse group of institutions other than commercial and co-operative banks performing financial intermediation in a variety of ways, like accepting deposits, making loans and advances, leasing and hire purchase. They raise funds from the public, directly or indirectly, and lend them to the final spenders. Slowly, they are known as a complementary to the banking sector among people due to their customer-oriented services like, simplified procedures, attractive rates of return on deposits, flexibility and timeliness in meeting the credit needs.

1. PayPal

PayPal is well-known as one of the easiest and popular ways to make payments online. In simple words, PayPal is a tool that allows you to safely send and receive money through email. eBay is the owner for this global online payment system, PayPal. Using this online payment system you can send money from your credit or debit card, transfer money to and from your bank account and also for online purchase or auctions or when someone sends you money. In addition to that, PayPal system is also an easy tool for individuals and merchants to send and receive money online for goods, services, charitable donations, and more.

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