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PayPal (U.S.)

Last modified: 2018-12-28 by rick wyatt
Keywords: paypal | united states |
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[PayPal flag] image by Randy Young, 19 April 2015

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"PayPal is an online payments system. Online money transfers serve as electronic alternatives to traditional paper methods like checks and money orders. It's one of the world's largest internet payment companies. The company operates as an acquirer, performing payment processing for online vendors, auction sites and other commercial users, for which it charges a fee initially established in December 1998 as Confinity (a company that developed security software for handheld devices). In March 2000, Confinity merged with (online banking), and The company was then renamed PayPal in 2001 (the name derives from a pal, or friend that helps with payments).

Shortly after PayPal's IPO, the company was acquired by eBay in July 2002. It was announced on September 30, 2014, that eBay would spin off PayPal into a separate publicly traded company. The spin-off is expected to be completed sometime in second half of 2015."
Sources: and
Eseban Rivera, 18 April 2015

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[PayPal flag] image by Randy Young, 19 April 2015