Last modified: 2018-12-28 by rick wyatt
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![[PayPal flag]](../images/u/us$pyp.gif)
image by Randy Young, 19 April 2015
See also:
"PayPal is an online payments system. Online money transfers serve as
electronic alternatives to traditional paper methods like checks and money
orders. It's one of the world's largest internet payment companies. The company
operates as an acquirer, performing payment processing for online vendors,
auction sites and other commercial users, for which it charges a fee initially
established in December 1998 as Confinity (a company that developed security
software for handheld devices). In March 2000, Confinity merged with X.com
(online banking), and The X.com company was then renamed PayPal in 2001 (the
name derives from a pal, or friend that helps with payments).
Shortly
after PayPal's IPO, the company was acquired by eBay
in July 2002. It was announced on September 30, 2014, that eBay would spin off
PayPal into a separate publicly traded company. The spin-off is expected to be
completed sometime in second half of 2015."
Sources:
https://www.paypal-media.com/history and
http://en.wikipedia.org/wiki/PayPal
Eseban Rivera, 18 April
2015
![[PayPal flag]](../images/u/us$pyp07.gif)
image by Randy Young, 19 April 2015