PayPal

PayPal is a global e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as checks and money orders.

PayPal is an acquirer, performing payment processing for online vendors, auction sites, and other commercial users, for which it charges a fee. It may also charge a fee for receiving money, proportional to the amount received. The fees depend on the currency used, the payment option used, the country of the sender, the country of the recipient, the amount sent and the recipient's account type. In addition, eBay purchases made by credit card through PayPal may incur extra fees if the buyer and seller use different currencies.

On October 3, 2002, PayPal became a wholly owned subsidiary of eBay. Its corporate headquarters are in San Jose, California, United States at eBay's North First Street satellite office campus. The company also has significant operations in Omaha, Nebraska, Scottsdale, Arizona, and Austin, Texas, in the United States, Chennai, Dublin, Kleinmachnow (near Berlin) and Tel Aviv. As of July 2007, across Europe, PayPal also operates as a Luxembourg-based bank.

On March 17, 2010, PayPal entered into an agreement with China UnionPay (CUP), China's bankcard association, to allow Chinese consumers to use PayPal to shop online. PayPal is planning to expand its workforce in Asia to 2,000 by the end of the year 2010.

Between December 4–9, 2010, PayPal services were attacked in a series of denial-of-service attacks organized by Anonymous in retaliation for PayPal's decision to freeze the account of WikiLeaks citing terms of use violations over the publication of leaked US diplomatic cables.

Read more about PayPalServices, Payment Sources and Destinations, Regulatory Status, Safety and Protection Policies, Regulation, Fraud, Phishing, Shop-for-free Bugs, Criticism and Litigation, Litigation

Other articles related to "paypal":

PayPal - Litigation
... In 2002, CertCo filed a suit against PayPal claiming patent infringement concerning the use of distributed computing systems that process ... In March 2002, two PayPal account holders separately sued the company for alleged violations of the Electronic Funds Transfer Act (EFTA) and California law ... Most of the allegations concerned PayPal's dispute resolution procedures ...
Confinity
... is best known as the creator of PayPal ... Confinity launched its milestone product, PayPal in late 1999 ... because this was thought to be a name with broader long-term potential than Confinity or PayPal ...
Luke Nosek
... In 1998, with Max Levchin, Peter Thiel, Elon Musk, and Ken Howery, Nosek co-founded PayPal and was its vice president of marketing ... After PayPal went public and was sold to eBay for $1.5 billion in 2002, Nosek left PayPal to pursue travel and angel investing ...
Something Aweful - History - Hurricane Katrina Charity
... was brought to a semi-functional state, Kyanka set up a link to a PayPal account where people could donate money to the survivors of the hurricane via the Red Cross ... In under half a day, visitors helped to raise US$27,695.41 before PayPal froze the account under suspicions of fraud automated messages said that there had been "mor ... Kyanka contacted a customer service representative over the phone, and asked to have PayPal donate all of the money to the Red Cross ...
Criticism Of E Bay - Other EBay Controversies
... On July 28, 2003, eBay and its subsidiary PayPal agreed to pay a $10 million fine to settle allegations that they aided illegal offshore and online gambling ... According to the settlement, between mid-2000 and November 2002, PayPal transmitted money in violation of various U.S ... eBay's announcement of its acquisition of PayPal in early July said that PayPal would begin the process of exiting this market, and was already doing so when the ruling occurred ...