What is PayPal?

PayPal is the world’s largest online payment network, serving over 20 million members in 38 countries. PayPal is the preferred method of online payment for auction sites such as eBay. PayPal allows guaranteed secure payment over the Internet with your credit card or bank account by taking your information once and then using that information to make payments to other parties. With PayPal, you can send and receive payments through the Internet. Once you sign up for PayPal, you can send money to anyone with an email address using the money from your PayPal balance or another funding option of your choice. Recipients are notified by email that they have received a payment. Initially established in 1998 under the name Confinity, PayPal was founded by Luke Nosek, Max Levchin, Peter Theil and Ken Howery. By 1999 it was launched as a money transferring platform and was backed and funded by John Malloy from BlueRun Ventures, an early stage venture capital company specializing in IT, mobile and consumer technology. Initially established in 1998 under the name Confinity, PayPal was founded by Luke Nosek, Max Levchin, Peter Theil and Ken Howery. By 1999 it was launched as a money transferring platform and was backed and funded by John Malloy from BlueRun Ventures, an early stage venture capital company specializing in IT, mobile and consumer technology.

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