• PayPal is an E-Commerce business that allows payments and Money Transfers to be made via the Internet. Its main function is payment processing for online vendors, auction sites such as eBay and other corporate users. Its corporate headquarters are in San Jose, California, United States and it maintains significant operations in Omaha, Nebraska; Scottsdale, Arizona; Austin, Texas; Dublin, Ireland, India and Berlin, Germany.

  • History

    PayPal is the result of a March 2000 merger between two online financial services companies, Confinity and X.com. X.com was founded by Elon Musk in 1999. Confinity was founded in 1998 by Max Levchin, Peter Thiel, and Luke Nosek. To block potentially fraudulent access by automated systems, PayPal devised CAPTCHA a system of forcing the user enter numbers from a blurry picture. In October 2002, PayPal was acquired by [[eBay[[ for $1.5 billion.

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