10 Facts About PayPal

Some Unknown Facts About PayPal
Voiced by Amazon Polly

PayPal is the faster, safer way to send money, make an online payment, receive money or set up a merchant account.

Founded: 1998

Headquarters Regions: San Jose, CA

Industry: Internet Publishing 

Type: Public

Business Model: B2C

Founders: Peter Thiel, Luke Nosek, Max Levchin, Ken Howery, Yu Pan, Elon Musk, Russel Simmons

  • History-PayPal was a money-transfer service offered by a company named Confinity, acquired by X.com in 1999. Later X.com was renamed PayPal and purchased by eBay in 2002.

  • Founder Peter Thiel, PayPal founder, and the former chief executive officer is sometimes referred to as the “don” of the PayPal Mafia.

  • eBay owned PayPal from 2002-to 2015. In October 2002, eBay acquired PayPal for $1.5 billion. eBay saw how PayPal became the preferred payment method for users on the Internet auction site. The Internet auction company used the money transfer platform almost exclusively during this period.

  • PayPal currently operates in 200 countries. However, Paypal is still unavailable in Afghanistan, Antarctica, Cuba, Iraq, North Korea, Pakistan, and Turkey.

Also Read: 10 Top Facts About Razorpay

  • PayPal made more acquisitions in 2013. IronPearl for engagement software and Braintree for enhancing PayPal’s product development and mobile services were among these acquisitions.

  • iZettle has been the company’s largest acquisition which PayPal got for $2.2 billion. The Swedish company’s acquisition helped PayPal enhance its digital marketing reach. When PayPal partnered with Instagram in 2019, it added the new feature “Checkout on Instagram.”

  • PayPal won 5 awards from 2018 to 2019. PayPal most recently earned the awards for Best Company Perks & Benefits and Best CEO in 2019. In the year prior, the money transfer company bagged the Silver Award at the 2018 American Business Awards.

  • PayPal Shipping permits users to purchase U.S. Postal Service and UPS shipping labels online. For this, a user would need a PayPal account. Upon purchasing a label, the user would only need to print and affix it to the package before giving it to the carrier.

  • Users can buy bitcoin with PayPal. It is not possible to purchase bitcoin directly from PayPal. However, users can get Bitcoin via PayPal through trading platforms like eToro or a peer-to-peer marketplace like Paxful.

  • PayPal launched a peer-to-peer payment platform called PayPal.Me. This feature enables users to send custom links to request money transfers and payments. Moreover, these requests can be conveniently done via message and email.

Also Read: Some Unknown Facts About Paytm

WANT MORE NEWS LIKE THIS?

Sign up to receive our weekly email newsletter and never miss an update!