A Web payment processing service founded in 1998 and acquired by eBay in late 2002. Operating as an independent brand, PayPal, San Jose, CA (www.paypal.com) is used to shop at PayPal-enabled retail sites as well as to send or request money from anyone with an e-mail address. Both personal and business services are offered, and it is widely used as a payment system for online auctions. PayPal offers a complete shopping cart service that can be added to a Web site and enables merchants of all sizes to accept credit cards.
A Huge Success
In 2002, the company went international, allowing its customers to accept payments in euros and pounds. By 2005, PayPal was available to users in 45 countries and had more than 50 million account members worldwide.
A Huge Success
In 2002, the company went international, allowing its customers to accept payments in euros and pounds. By 2005, PayPal was available to users in 45 countries and had more than 50 million account members worldwide.
 | Reproduced with permission from Computer Desktop Encyclopedia. Copyright (c) 1981-2008 The Computer Language Company Inc. All rights reserved. |
Additional Resources
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- Discussion threads 2008-08-20
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