The solution helps commercial users, online vendors and many auction sites. The company has many subsidiaries such as Xoom Corporation, Braintree, iZettle, Honey, PayPal Credit, TIO Networks, Paydiant, Venmo, Tradera and card.io.
This payment system is considered as one of the secured in the market. It is available to consumers in around 203 markets.
Mission:
“We believe now is the time to reimagine money, to democratize financial services, so that managing and moving money is a right for all citizens, not just the affluent.”
Vision:
“We believe every person has the right to participate fully in the global economy. We have an obligation to empower people to exercise this right and improve financial health.”
Core Values:
- Collaboration
- Trust
- Demonstrating Integrity
- Respect
- Wellness
- Empathy
- Innovation
- Inclusion
Early Story Of PayPal:
- The company was founded in 1998 in Palo Alto, USA
- It came into existence by the name Confinity
- The company’s electronic payment system was launched in 1999
- In the year 2000, Confinity was acquired by x.com
Rise To Success:
- The company was renamed from x.com to PayPal in the year 2001
- It went public in 2002
- The company’s services significantly grew from 2000-2002
- In the year 2005, the company acquired VeriSign payment solutions
- In 2007, it announced partnership with MasterCard
- In the same year, the company generated a revenue of $1.8 billion
- In 2008, it acquired Fraud Sciences, an Israeli startup
- In 2011, the company announced moving business offline
- In 2012, it announced partnership with Discover Card
- In 2013, it acquired IronPearl, a startup into engagement software
- In 2014, Dan Schulman became CEO of the company
- It became an independent public company traded on NASDAQ on July 20, 2015
- In 2015, it acquired Xoom Corporation, a digital money transfer company
- In 2015, the company launched its P2P payment platform PayPal.Me
- In May, 2018, it agreed to acquire iZettle for $2.2 billion
- In 2019, the company was ranked 204th in Fortune 500
- In October, 2020 it launched cryptocurrency capabilities in USA
- In the same year, it added 72.7 million active accounts
EBay And PayPal:
- PayPal was acquired by eBay on October 3, 2002
- eBay auctions accepted PayPal payments significantly (>70%)
- The company was an eBay subsidiary till 2014
- On September 30, 2014 it was announced that PayPal would function as separate company
Latest News On PayPal:
- As per news on July 20, 2021, PayPal holdings has announced an increase in purchase limit of cryptocurrency for eligible USA customers
- It is raised to $100,000 per week without any annual purchase limit
- The company received conditional bitlicense from New York State Department of Financial services.
- It currently has $346.1 billion market capitalization
- It is now towards achieving around 400 million active accounts
- It now ranks 8th in the list of 30 popular stocks among Hedge Funds
