PayPal Logo – PayPal is a company American, owned by eBay , belonging to the sector of electronic commerce on the Internet that allows the transfer of money between users with email , an alternative to traditional paper methods such as checks or money orders . PayPal also processes requests for payment in electronic commerce and other Web services, for which charges a percentage. Most of their clientele comes from the online auction site eBay . From the 31 March of 2008 the Executive Director (CEO) of eBay ‘s John Donahoe . Its headquarters is in San Jose ( California , USA ), its headquarters are in Omaha ( Nebraska , USA) and operations center for Europe is in Dublin ( Ireland ).
It was initially founded under the name of Confinity in 1998 by Peter Thiel and Max Levchin . After its merger with X.com was renamed PayPal. It is worth noting that still retain the domain x.com. One of its first headquarters was the 165 University Avenue in Palo Alto , California , where he started several companies in Silicon Valley . In principle, PayPal was a service to transfer money via PDAs . But the payment on the web became a business more appealing. An aggressive marketing by offering the first $ 10 and then $ 5 by registering in the system, caused the growth was meteoric: between 7 and 10% per day between January and March 2000.
eBay purchased PayPal in October 2002, when it was the method of payment used by over 50% of eBay users, and the service competed with eBay’s own system, BillPoint . His last active competitor was BidPay , which closed on 31 December 2005 and relaunched in 2006 under the tutelage of Cyber Source, after the service of Citibank was closed in 2003 and the service of Yahoo! , PayDirect was closed in 2004 . Currently its closest competitors are AlertPay , Moneybookers , PAYTPV and Google Checkout . PayPal’s vice president is Osama Bedier . The principal law is John Muller.