How did Paypal start?

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Paypal was started in the year 1998 by its creators Peter Thiel, Ken Howery, Luke Nosek, and Max Levchin. Confinity is its original name, but it was changed to PayPal after two years. It aims to provide its users a secure and convenient online transaction for business and personal use. It allows its users to pay for their purchases or any items online by just adding a debit card or credit card and bank account details.

Transferring money or even receiving money from people in different countries was made easy through using PayPal. Several countries have PayPal and allow users to withdraw money from it.

PayPal Brief Timeline

  • 1998: The year it was founded with its name Confinity.
  • 2000: Confinity and X.com companies were merged and founded the new name PayPal.
  • 2002: eBay bought PayPal for $ 1,500 dollars.
  • 2006: PayPal allows users to have transactions using their smartphones.
  • 2013: PayPal acquired Braintree for the amount of $800 million.
  • 2014: Carl Icahn, one of the PayPal shareholders, demanded separation from eBay that made PayPal again a public company. In the same year, PayPal acquired Venmo.
  • 2015: Paypal acquired Xoom for $890 million.
  • 2017: PayPal offered its users a system of peer-to-peer payment.
  • 2018 and beyond: PayPal is continuing to grow and expand.

PayPal is reaching more countries and improving its features to give more convenience to its users that will provide secure and successful transactions. It is accessible using mobile and browser that makes it easier to use. And now they are offering PayPal Credit that allows users to pay for items using PayPal and will pay them later.

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Pieter Borremans

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