i was reading this PayPal is one of the largest Internet payment companies in the world. The company operates as a payment processor for online sellers, auction sites and other online business users and even physical merchants, so it charges a commission and fee percentage.
Founded in 1998, PayPal had its OPV in 2002, and became a subsidiary owned by eBay that same year.
Its headquarters are in San José (California, United States), its operations center is located in Omaha (Nebraska, United States) and the operations center for the European Union is in Dublin (Ireland).
2 Operation and operation
3 PayPal Mafia
4 See also
6 External links
PayPal headquarters in San Jose, California
It was initially founded under the name of Confinity5 in 1998 by Max Levchin, Peter Thiel, Luke Nosek and Ken Howery. In March 2000, Confinity merged with X.com, an online banking company founded by Elon Musk.6 After its merger with X.com, in 2001 PayPal was renamed.
One of its first locations was 165 University Avenue in Palo Alto, California, where several Silicon Valley companies started. In principle, PayPal was a service for money transfers via PDAs. But the payment on the web became a more palatable business. An aggressive marketing campaign offering first 10 dollars and then 5 dollars for registering in the system, caused the growth to be meteoric: between 7 and 10% a day between January and March 2000.
eBay bought PayPal in October 2002, when it was already the payment method used by more than 50% of eBay users, and the service competed with eBay’s own system, BillPoint.
Its last active competitor was BidPay, which closed on December 31, 2005 and relaunched in 2006 under the tutelage of Cyber Source, after the Citibank service was closed in 2003 and the Yahoo !, PayDirect service was closed in 2004 .
In 2014, PayPal moved 228 billion dollars in 26 different currencies across more than 190 countries, which generated a total income, 7.9 billion dollars (44% of eBay’s total earnings). That same year, eBay announced PayPal’s separation plans at an independent company in mid-2015 and was completed on July 18, 2015.
Currently its closest competitors are Neteller, AlertPay, Moneybookers, Google Checkout, Apple Pay and MercadoPago (in Latin America). Alipay, Alibaba Group’s online payment method, has been able to surpass PayPal and Apple Pay as a mobile payment platform