With over 250 million active users globally, PayPal is a secure, online financial service established in 1998. Back then, this San Jose-based payment provider was known as Confinity. Some people have often been confused about who founded PayPal. The truth is, it was initially established by German-American venture capitalists Peter Thiel and Max Levchin, a popular Ukrainian-American developer and entrepreneur. Then, in 2000, Confinity Inc. merged with X.com, an online bank Elon Musk co-founded with Christopher Payne, Ed Ho, and Harris Fricker. The fused company was known as "PayPal."
PayPal is among the leaders in the online payment industry, explaining why over seven million enterprises worldwide are proud to be associated with it. Uniqueness is one of the competitive advantages it enjoys.
- For starters, it lets users link up to eight email addresses to one bank account. This enhances their protection since it's not easy for online hackers to gain unauthorized access to an individual's multiple emails. It also makes transferring funds more flexible.
- PayPal also boasts a Bill Me Later feature that allows users to purchase products with inadequate funds and settle the bills later. This proprietary payment system is currently offered by 1000+ online merchants interested in enhancing convenience for their customers.
- In addition, PayPal provides two account options. A user can create a personal or business account. Their most ideal choice depends on if they want a company account or one to enable them to pay for their goods & services and receive payments.
|Founded||Palo Alto, California, USA|
|Headquarters||San Jose, California, USA|
|Payment Type||E-wallet, Prepaid Card|