A brief History Of PayPal

PayPal made in December 1998, Ken Howery, Max Levchin, Elon Musk, Luke Nosek, and Peter Thiel established.

Since then, PayPal has expanded its business since 2000, including launching businesses in other countries and joining currency units other than the US dollar, including the British Pound, Canadian Dollar, Euro, Australian Dollar, Japanese Yen, New Taiwan Dollar, and Hong Kong Dollar.

In October 2002, eBay, the world's largest auction site, acquired PayPal for $1.5 billion, and PayPal became one of eBay's main payment channels.

Today, PayPal has supported more than 193 locations with more than 250 million registered users (2012). PayPal is currently the world's largest online payment provider.

In March 2002, two PayPal users sued PayPal for violating the Electronic Funds Transfer Act (EFTA) and California law, but the defense party PayPal denied all charges. 

The two lawsuits were subsequently merged into a joint lawsuit; PayPal filed an informal settlement in November 2003, and signed an official settlement on June 11, 2004, and changed the business to the electronic fund transfer law and compensation. Frozen customers are 9.25 million US dollars.

2013 PayPal acquires Braintree for $800 million

On March 3, 2015, PayPal acquired the electronic wallet company Paydiant for $290 million.

On June 27, 2015, eBay's board of directors agreed to spin off the listing of PayPal. Investors holding eBay shares will receive one share of PayPal common stock per share of eBay common stock. These PayPal shares will be released on July 17, and PayPal shares will be listed on the NASDAQ exchange on July 20th with PYPL stock symbol trading.

On July 2, 2015, PayPal acquired Xoom, a cross-border remittance company in San Francisco, USA for US$890 million, and entered the $586 billion cross-border remittance market.

On February 15, 2017, PayPal moved the bill payment business to TIO Networks' cloud platform for $23 million in cash Canadian payment platform network.

On August 11, 2017, PayPal acquired online lending company Swift Financial for $183 million to expand its business and provide working capital for merchants.

On May 18, 2018, PayPal invested US$2.2 billion (approximately HK$17.16 billion) to acquire Swedish startup iZettle to expand in-store payment service coverage.

On June 4, 2018, PayPal acquired Jetlore, an artificial intelligence (AI) retail system developer.

On June 20, 2018, PayPal spent $400 million to acquire the group payment platform HyperWallet

On June 25, 2018, PayPal VCC spent $120 million to acquire the anti-fraud risk management platform Similarity, which will strengthen its related security functions.