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PayPal

The PayPal payment system was created in 1998 by Confinity. Its founders are Max Levchin and Peter Thiel.

In the first months of its existence, the company began to cooperate with electronic auctions, and by April 1998, more than 1 million auctions on ebay.com offered payment via PayPal.

In October 2002, eBay took over PayPal, but in 2015 they split and became separate companies.

An interesting fact from history: on June 24, 2013, PayPal mistakenly transferred the amount of $ 92,233,720,368,547,800 to American Chris Reynolds, after which he became richer than the richest person in the world by more than a million times for several hours.

As of 2022, PayPal operates in 202 countries (the range of services may vary by country), has 350+ million registered accounts and supports 25 national currencies. The European headquarters of PayPal is located in Luxembourg, and the international headquarters is in Singapore.

 

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