PayPal As Your Payment System  

Tuesday, July 28, 2009

Do you know about PayPal?. PayPal.Inc is a company that provides online money transfer services via electronic mail, replace the old method that still use paper, such as check and money orders. PayPal also provides services to the owners e-commerce sites, auction and other types of businesses. Company headquarters is located in San Jose, California, United States.

Early Establishment

PayPal Corp. is actually the result ofa merger between companies with X.com Confinity conducted in 2000. Confinity was established in December 1998 by Peter Thiel and Max Levchin with the initial goal as the payment intermediary company Palm Pilot and cryptography services provider. The X.com was founded by Elon Musk in March 1999 as a provider of Financial planning services. Both the company headquarters is located in first 165 University Avenue, Palo Alto, California, United States.


Acquisition By eBay

View of the future that promises PayPal, eBay concluded PayPal is used as a suitable intermediary Payment online auction them. Previously, eBay has purchased Billpoint in May 1999 as a broker and make only one payment approved by eBay even though the option to use other payment methods are permitted. In February 2000, the average there are about 200,000 item per day, a quote that use PayPal, while using only Billpoint bidding only reached 4000. Even in April 2000, already have more than one million who use PayPal preffered.

Finally in 2002, PayPal acquaired eBay for U.S .$ 1.5 billion. Ebay later removed services Billpoint payment through PayPal to increase the potential. Many majors competitors of PayPal eventually bankrupt or sold, such as Citibank C2IT closed at the end of 2003, Yahoo! PayDirect closed at the end of 2004, the services and western Union BidPay property closed in 2005. PayPal competitors who still survive up to now are AlertPay, e-gold, kagi, and MoneyBookers.

In the first quarter 2006, total transactions made through PayPal for U.S.$ 8 billion, up 41% from year to year.


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