PayPal is an online payments company.
The American company operates a worldwide online payments system which lets people transfer money online. PayPal is often thought as a digital alternative to checks and money orders.
As one of the world’s largest internet payment companies, the company also acts as a payment processor for online retailers, auction sites and other commercial online vendors.
The company was founded in December 1998, under the name Confinity. In 2002, the company went public and later became a wholly owned subsidiary of eBay.
After eBay spun-off PayPal into an independent company in 2015, the payments giant had its second IPO. The IPO valued the company at $46.6bn.
How does PayPal work?
Peter Thiel, Max Levchin
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