PayPal is one of the world's largest Internet payment companies. Established in[7] PayPal had its IPO inand became a wholly owned subsidiary of eBay later that year. PayPal was established in December as Confinity[12] a company that developed security software for handheld devices [13] founded by Max LevchinPeter ThielLuke Nosek and Ken Howery. In MarchConfinity merged with X. PayPal acquired the VeriSign payment solution in to expand its e-commerce business and provide added security support.

ByPayPal had over million active user accounts in markets through 25 different currencies. The denial of service attacks occurred in Decemberafter PayPal stopped processing donations to Wikileaks. On December 5,13 of the PayPal 14 pleaded guilty to misdemeanor and felony charges related to the attacks.

The company continued to focus on international growth and growth of its Merchant Services division, providing e-payments for retailers on eBay.

InPayPal announced that it would begin moving its business offline so that customers can make payments via PayPal in stores. InPayPal acquired IronPearl, a Palo Alto startup offering engagement software, [40] and Braintreea Chicago -based payment gatewayto further product development and mobile services.

It was announced on September 30,that eBay would spin off PayPal into a separate publicly traded company, a move demanded in by activist hedge fund magnate Carl Icahn.

The spin-off was completed on July 18, On July 1,PayPal announced that it was acquiring digital money transfer company Xoom Corporation. The deal was closed in the fourth quarter of On September 1,PayPal launched their peer-to-peer payment platform "PayPal.

Me", a service that allows users to send a custom link to request funds via text, email, or other messaging platforms. Me was launched in 18 countries including United States, United Kingdom, Germany, Australia, Canada, Russia, Turkey, France, Italy, Spain, Poland, Sweden, Belgium, Norway, Denmark, Netherlands, Austria and Switzerland.

Me was to create a mobile-first user experience that enables faster payment sharing than PayPal's traditional tools. In Juneit was announced that PayPal had joined the Fortune for the first time. PayPal's corporate headquarters are located in San Jose, California[39] at North First Street campus. The PayPal European headquarters are located in Luxembourg and the international headquarters are in Singapore.

PayPal opened a technology center in Scottsdale, Arizona in[56] and a software development center in ChennaiIndia in As of [update]PayPal operates in markets and has million active, registered accounts. PayPal allows customers to send, receive and hold funds in 25 currencies worldwide. PayPal's services allow people to make financial transactions online by granting the ability to transfer funds electronically between individuals and businesses.

It is not necessary to have a PayPal account to use the company's services. From toPayPal operated Student Accounts, allowing parents to set up a student account, transfer money into it and obtain a debit card for student use.

Selecting payment methods (for sellers)

The program provides tools to teach how to spend money wisely and take responsibility for actions. In NovemberPayPal opened its platform, allowing other services to get access to its code and to use its infrastructure in order to enable peer-to-peer online transactions.

InPayPal acquired the online credit product Bill Me Later, Inc. Founded inBill Me Later is headquartered in Timonium, Maryland, with additional offices in Hunt Valley, Maryland, Chandler, Arizona and San Francisco, California.

PayPal Credit offers shoppers access to an instant online revolving line of credit at thousands of vendors that accept PayPal, subject to credit approval. PayPal Credit allows consumers to shop online in much the same way as they would with a traditional credit card.

The rebranding of Bill Me Later as PayPal Credit also means that consumers can use PayPal Credit to fund transactions virtually anywhere PayPal is accepted. The PayPal app is available online or at the iTunes App Store and Google Play.

One year after acquiring BraintreePayPal introduced its "One Touch" service, which allows users to pay with a one-touch option on participating merchants websites or apps.

Inthe company launched "PayPal Here", a small business mobile payment system that includes a combination of a free mobile app and a small card-reader that plugs into a smart phone. PayPal launched an updated app for iOS and Android in that expanded its mobile app capabilities by allowing users to search for local shops and restaurants that accept PayPal payments, order ahead at participating venues, and access their PayPal Credit accounts formerly known as Bill Me Later.

PayPal's success in users and volumes was the product of a three-phase strategy described by former eBay CEO Meg Whitman: Second, we began expanding PayPal to eBay's international sites.

And third, we started to build PayPal's business off eBay. In the first phase, payment volumes were coming mostly from the eBay auction website. The system was very attractive to auction sellers, most of which were individuals or small businesses that were unable to accept credit cards, and for consumers as well.

In fact, many sellers could not qualify for a credit card Merchant account because they lacked a commercial credit history. The service also appealed to auction buyers because they could fund PayPal accounts using credit cards or bank account balances, without divulging credit card numbers to unknown sellers. UntilPayPal's strategy was to earn interest on funds in PayPal accounts. However, most recipients of PayPal credits withdrew funds immediately.

To solve this problem, PayPal tailored its product to cater more to business accounts. Instead of relying on interests earned from deposited funds, PayPal started relying on earnings from service charges. They offered seller protection to PayPal account holders, provided that they comply with reimbursement policies.

After fine-tuning PayPal's business model and increasing its domestic and international penetration on eBay, PayPal started its off-eBay strategy. This was based on developing stronger growth in active users by adding users across multiple platforms, despite the slowdown in on-eBay growth and low-single-digit user growth on the eBay site.

A late reorganization created a new business unit within PayPal—Merchant Services—to provide payment solutions to small and large e-commerce merchants outside the eBay auction community.

Starting in the second half ofPayPal Merchant Services unveiled several initiatives to enroll online merchants outside the eBay auction community, including: PayPal can be used in more than countries. Different countries have different conditions: Send only Package Service allows sending only, valid in 97 countriesPayPal Zero package suggests the possibility of enrollment, entry and withdrawal of funds in foreign currency, but the user can not hold the balance PayPal account, operates in 18 countriesSRW Send - Receive - Withdrawal the possibility of enrollment, input-output and the ability to keep your PayPal account balance in the currency and to transfer to the card when the user sees fit, operates in 41 countries and Local Currency SRW plus opportunity to conduct transactions in local currency, 21 countries.

In late Marchnew Japanese banking regulations forced PayPal Japan to suspend the ability of personal account holders registered in Japan from sending or receiving money between individuals and as a result are now subject to PayPal's business fees on all transactions. As of MarchPayPal made changes to the User Agreement for Indian users to comply with Reserve Bank of India regulations.

PayPal has disabled sending and receiving personal payments in India, thus forcing all recipients to pay a transaction fee. PayPal plans to make India an incubation center for the company's employee engagement policies. InPayPal hired people for its offices in Chennai and Bangalore.

PayPal has stopped the offering the solution to IT or software business, as many accounts are being reported limited.

Indian user has been removed the facility to store the money in their PayPal account. For sending or receiving the funds, the funds will be debited from the card instantly or in case of receipt the auto withdrawal will be made in the bank account verified by PayPal. In JanuaryPayPal ceased operations in the Crimea in compliance with international sanctions against Russia and Crimea.

Eight years after the company first started operating in the country, Paypal ceased operations in Turkey on 6 June when Turkish financial regulator BDDK denied it a payments license. The regulators had demanded that Paypal's data centers be located inside Turkey to facilitate compliance with government and court orders to block content, and to generate tax revenue. PayPal said that the closure will affect tens of thousands of businesses and hundreds of thousands of consumers in Turkey. PayPal is available in Israel [82] but is not available in the Palestinian territories.

Nor can Palestinians working in the West Bank or Gaza access it but Israelis living in settlements in the West Bank can use PayPal. This discrepancy has prompted tech companies to seek a policy change how to receive payment through paypal on ebay PayPal [83]. PayPal Giving Fund is a registered charity supported by Paypal that streamlines donations to nonprofit organizations.

Thiel, a founder of PayPal, has stated that PayPal is not a bank because it does not engage in fractional-reserve banking. In the United StatesPayPal is licensed as a money transmitteron a state-by-state basis. Although PayPal is not classified as a bank, the company is subject to some of the rules and regulations governing the financial industry including Regulation E consumer protections and the USA PATRIOT Act.

Ordinarily, a credit card transaction, specifically the relationship between the issuing bank and the cardholder, is governed by the Truth in Lending Act TILA 15 U. Basically, unless a PayPal transaction is funded with a credit card, the consumer has no recourse in the event of fraud by the seller.

InPayPal Europe was granted a Luxembourg banking license, which, under European Union law, allows it to conduct banking business throughout the EU.

This ceased inwhen the company moved to Luxembourg. In Indiaas of JanuaryPayPal has no cross-border money transfer authorization. In The New York Times article "India's Central Bank Stops Some PayPal Services", Reserve Bank of India spokesman Alpana Killawalla stated: In AustraliaPayPal is licensed as an Authorised Deposit-taking Institution ADI and is thus subject to Australian banking laws and regulations.

The PayPal Buyer Protection Policy states that the customer may file a buyer complaint if he or she did not receive an item or if the item he or she purchased was significantly not as described. The customer can open a dispute within days for registered UK residents days, changed 14 June from the date of payment and escalate it to a claim within 20 days from opening the dispute. If the buyer used a credit card, he or she might get a refund via chargeback from his or her credit-card company.

However, in the UK, where such a purchaser is entitled to specific statutory protections that the credit card company is a second party to the purchase and is therefore equally liable in law if the other party defaults or goes into liquidation under Section 75 Consumer Credit Actthe purchaser loses this legal protection if the card payment is processed via PayPal. Also, the Financial Ombudsman Service position is that section 75 protection does not apply where PayPal or any eMoney service becomes involved in the credit card transaction.

This leaves consumers with no recourse to pursue their complaint with the Financial Ombudsman Service. They only have recourse with the courts.

However, The key issues which determine the applicability of section 75 are identified very clearly in Office of Fair Trading v Lloyds TSB Bank Plc and others [] EWCA Civ 7 and the Bank of Scotland v Alfred Truman a firm [] [EWHC] QB. This is legal authority that section 75 protection does exist where one has paid on credit card for a product, forex quanto investire an eMoney service.

According to PayPal, it protects sellers in a limited fashion via the Seller Protection Policy. In general the Seller Protection Policy is intended to protect the seller from certain kinds of chargebacks or complaints if seller meets certain conditions including proof of delivery to the buyer.

PayPal states the Seller Protection Policy is "designed to protect sellers against claims by buyers of unauthorized payments and against claims of non-receipt of any merchandise".

The policy includes a list of "Exclusions" which itself includes "Intangible goods", "Claims for receipt calculate pip profit forex goods 'not as described ' " and "Total reversals over the annual limit".

The PayPal Seller Protection Policy does not provide the additional consumer protection afforded by UK consumer legislation e.

Receiving payment

In earlyPayPal introduced an optional security key as an additional precaution against fraud. The account holder enters his or her login ID and password as normal, but is then prompted to enter a make money with machinima code provided by a credit card sized hardware security key or a text message sent to the do chefs make good money uk holder's mobile phone.

For convenience, the user may append the code generated by the hardware key to his or her password in the login screen. This way he or she is not prompted for it on another page. This method is required for some services, such as when using PayPal through the eBay application on iPhone.

This two-factor authentication is intended to make it difficult for an account to be compromised by a malicious third party without access to the physical security key, although it does not prevent so-called Man in the Browser MITB attacks.

However, the user or malicious third party can alternatively authenticate by providing the credit card or bank account number listed on his or her account. Thus the PayPal implementation does not offer the security of true two-factor authentication. It is also possible to use a mobile phone to receive an mTAN Mobile Transaction Authentication Number via SMS.

As early asPayPal had substantial problems with online fraudespecially international hackers who were hacking into PayPal accounts and transferring small amounts of money out of multiple accounts. Standard solutions for merchant and banking fraud might use government criminal sanctions to calforex montreal exchange the fraudsters.

But with PayPal losing millions of dollars each month to fraud, while experiencing difficulties with using the FBI to pursue cases of international fraud, PayPal developed a private solution: Rather than treating the problem of fraud as a legal problemthe company treated it as a risk management one. In, Spanish card holders had their funds frozen in an apparent fraud case involving a PayPal service provider, Younique Money, which was the de facto administrator current exchange rates inr to usd the cards.

As of March most funds have not been returned. PayPal MyCash PPMC cards are purchased and loaded at retail and pharmacy stores in the US. These cards are provided by the corporation InComm. Funds can only be loaded to PayPal accounts, and are done so by scratching off silvering on the rear of the card to reveal a secure PIN. It has been discovered that these secure PIN numbers are stored plaintext in a database, accessible to many InComm IT employees.

Employees have taken PINs and loaded or traded them for their own purposes. Meanwhile victims have their claims investigated by the company ITC Financial Licenses under InComm, with a very broken model which blames victims as participants in Victim Assisted Fraud.

A video reveals a PIN number being known before silvering has been scratched off, and the victim was able to trace the account one of the cards was loaded to back to a former InComm Database Administrator. InPayPal voluntarily ceased serving as a payment intermediary between gambling websites and their online customers.

At the time of this cessation it was the largest payment processor for online gambling transactions. InPayPal resumed aftermarket stock for marlin xs7 such transactions, but only in those countries where online gambling is legal, and only forex rates uganda today sites which are properly licensed to operate in said jurisdictions.

If an account hindustan oil exploration company ltd stock market subject to fraud or unauthorized use, PayPal puts the "Limited Access" designation on the account. PayPal has had several notable cases in which the company has frozen the account of users such as Richard Kyanka, owner of the website Something Awfulin September[] Cryptome in March[] [] [] or April Winchellthe owner of Regretsy, in December The account was reinstated, PayPal apologized and donated to her cause.

In SeptemberPayPal froze the account of Markus Persson, developer of independent video game Minecraft. Persson stated publicly that he had not received a clear explanation of why the account was frozen, how to make money scamming that PayPal was threatening to keep the money if they found anything wrong.

PayPal's partner MasterCard ceased taking donations to WikiLeaks inand PayPal also suspended, and later permanently restricted, payments to the website after the U.

State Department deemed WikiLeaks activities as illegal. Online supporters and activists retaliated by subjecting PayPal and MasterCard, along with other companies, to coordinated cyber attacks. In February PayPal unbanned the account of a website that supports Iraq War resisters after it had enough information to fulfill its know your customer guidelines. The Chelsea Manning Support Network claimed the backdown was a reaction to a petition to the company to reinstate the account.

In MayPayPal declined to pay a reward offered in how much does a pilot earn uk Bug Bounty Program [] to a year-old German student who discovered a cross-site scripting flaw on its site. The company took the 5 franco binary options signals review that because the student was under 18 years old he did not qualify to participate in the program in violation of the program's terms and conditions.

In Augustentrepreneurs who had used PayPal to collect the funds they raised on crowdfunding platforms like Kickstarter and Indiegogo reported difficulty in being able to withdraw the money. Most notable victims are OuyaGlassUp a rival to Google Glass and Mailpile. As of Januarya class-action lawsuit against PayPal has been filed in Israel[] claiming that they arbitrarily freeze accounts and hold funds for up to days without paying interest and thereby directly profit from it.

The lawsuit requests that PayPal be declared a monopoly and thus regulated accordingly.

How do I get paid from ebay? - PayPal Community

In May PayPal blocked the account of a Russian human rights organisation "RosUznik", which supported political prisoners arrested at Bolotnaya Square case. In April The Guardian reported PayPal blocking the account of London -based human rights group Justice for Iran. In May PayPal blocked an account intended to raise money for the distribution of Boris Nemtsov 's report " Putin. InPayPal generated controversy after it was discovered that one of its founders, Peter Thiel, had funded a lawsuit brought by Hulk Hogan against Gawker.

ByConsumerAffairs had received over 1, consumer complaints relating to PayPal policies. In FebruaryPayPal froze the account of News Media Canadaa Canadian trade associationin response to a payment from The Remindera Flin FlonManitoba community newspaperintended to cover the fee for the Reminder's submission of articles for consideration in a nationwide journalism contest run by News Media Canada, including one discussing Syrian refugees.

PayPal cited United States regulations as a reason for flagging the transaction between Canadian entities. In Marchtwo 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. The two lawsuits were merged into one class action lawsuit In re: An informal settlement was reached in Novemberand a formal settlement was signed on June 11, PayPal denied any wrongdoing.

In JuneStamps. In a license agreement, Stamps. Craig Comb and two others filed a class action against PayPal in Craig Comb, et al. They sued, alleging illegal misappropriation of customer accounts and detailed their customer service experiences, including freezing deposited funds for up to days until disputes were resolved by PayPal.

PayPal argued that the plaintiffs were required to arbitrate their disputes under the American Arbitration Association 's Commercial Arbitration Rules. The court ruled against PayPal, stating that "the User Agreement and arbitration clause are substantively unconscionable under California law. In SeptemberBank One Corporation sued PayPal for allegedly infringing its cardless payment system patents. In JunePayPal and Israel Credit Cards—Cal Ltd. The claimants accused PayPal of deliberately failing to notify its customers that ICC-Cal was illegally charging them for currency conversion fees.

A class action lawsuit filed in was settled inin which the plaintiffs contested PayPay's "holds" on funds. PayPal which has yet to be ratified.

As part of the settlement, the company agreed to change some of its policies. It alleged that PayPal had promised discounts and payment options the consumers never received, and that users trying to sign up for the regular, non-credit, PayPal accounts were signed up for credit accounts instead.

From Wikipedia, the free encyclopedia. Elon Musk Ken Howery Luke Nosek Max Levchin Peter Thiel. John Donahoe Chairman Dan Schulman CEO.

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ICC-Cal Visa and PayPal Inc. Retrieved 21 Jan Business data for PayPal: Finance Reuters SEC filings.

Amazon Payments CurrentC Softcard. Category Comparison of payment systems. Zip2 — PayPal — SpaceX —present Tesla Motors —present SolarCity —present OpenAI —present The Boring Company —present Neuralink —present. Maye Musk mother Justine Musk first wife Talulah Riley second and third wife Kimbal Musk brother Tosca Musk sister Lyndon Rive cousin, CEO of SolarCity.

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