History of PayPal
PayPal as we know it today wasn't created overnight. Let's trace PayPal's history and find out how it all started.
1998
Oct-Nov: It all started with digital wallets
Max Levchin and Peter Thiel launch a security focused company which allows users to store encrypted information on PDA devices, enabling the digital wallet. Their theory is that this is safer than real cash in a wallet because it can never be stolen.
December: PayPal is founded
PayPal, or known as Confinity, is founded. At this point, Confinity's main objective is to enable money transfers solely on PDAs.
Max Levchin and Peter Thiel launch a security focused company which allows users to store encrypted information on PDA devices, enabling the digital wallet. Their theory is that this is safer than real cash in a wallet because it can never be stolen.
December: PayPal is founded
PayPal, or known as Confinity, is founded. At this point, Confinity's main objective is to enable money transfers solely on PDAs.
1999
October: Email payments with PayPal enabled
A Confinity engineer developed an online demo that allows people to email payments, making PayPal into what it is today.
A Confinity engineer developed an online demo that allows people to email payments, making PayPal into what it is today.
2000
January: PayPal makes its first foray into eBay
eBay users start posting PayPal's logo on their auctions. PayPal quickly changes its business to enable eBay payments and grows to 100,000 accounts.
March: Confinity today, X.com tomorrow
Confinity merges with its competitor x.com, taking on their company name.
March: One million reasons to celebrate
PayPal hits 1 million users, 10 times the number in just two months.
eBay users start posting PayPal's logo on their auctions. PayPal quickly changes its business to enable eBay payments and grows to 100,000 accounts.
March: Confinity today, X.com tomorrow
Confinity merges with its competitor x.com, taking on their company name.
March: One million reasons to celebrate
PayPal hits 1 million users, 10 times the number in just two months.
2001
June: The official name
PayPal officially takes on its name.
May: The war on fraud
PayPal teams up with the FBI and local authorities around the globe to help dissolve organised crime rings conducting online fraud in Chicago, Houston, Russia, and Nigeria.
PayPal officially takes on its name.
May: The war on fraud
PayPal teams up with the FBI and local authorities around the globe to help dissolve organised crime rings conducting online fraud in Chicago, Houston, Russia, and Nigeria.
2002
February: Going public
PayPal issues its Initial Public Offering.
October: The beginning of a beautiful relationship
PayPal is acquired by eBay for US$1.5 Billion. Thus, the merger of the world's largest auction site and online payments system.
October: More currencies!
PayPal becomes available in Euros and Pound Sterling.
PayPal issues its Initial Public Offering.
October: The beginning of a beautiful relationship
PayPal is acquired by eBay for US$1.5 Billion. Thus, the merger of the world's largest auction site and online payments system.
October: More currencies!
PayPal becomes available in Euros and Pound Sterling.
2004
May: PayPal web servicesPayPal introduces Web Services, enabling developers and merchants to create more advanced online payment applications and services.
December: The British invasion
PayPal launches as a payments option on eBay UK.
December: The British invasion
PayPal launches as a payments option on eBay UK.
2005
January-July: 贝宝在中国推出。- BeiBao is launched in China
PayPal opens its first offices in China in January. In July 2005, PayPal launches its China site, which operates under the name of BeiBao, in Simplified Chinese.
PayPal opens its first offices in China in January. In July 2005, PayPal launches its China site, which operates under the name of BeiBao, in Simplified Chinese.
2006
February: One million reasons to celebrate
PayPal surpasses 100 million account mark.
April: PayPal goes mobile in US
PayPal launches PayPal mobile in the United States, enabling users to send money via their mobile phones anywhere at anytime.
October: PayPal expands internationally
PayPal expands to 103 markets and adds 10 currencies, including Singapore Dollar, Hong Kong Dollar, New Zealand Dollar, Swiss Franc, and more.
PayPal surpasses 100 million account mark.
April: PayPal goes mobile in US
PayPal launches PayPal mobile in the United States, enabling users to send money via their mobile phones anywhere at anytime.
October: PayPal expands internationally
PayPal expands to 103 markets and adds 10 currencies, including Singapore Dollar, Hong Kong Dollar, New Zealand Dollar, Swiss Franc, and more.
2007
April: PayPal sponsors Contender Asia's finale
PayPal sponsors Contender Asia's finale - with over 450 million viewers in 50 countries.
May: PayPal continues international growth
PayPal continues to expand its services globally, with presence in 190 markets and 17 currencies.
May: PayPal speaks your language
In addition to English, three different languages can be selected on PayPal.com - simplified Chinese, French, Spanish.
August: PayPal gets a new logo and a new look
The new PayPal logo stays close to what customer know and trust, while presenting a bolder, and more confident expression of the company.
September: PayPal takes flight with the A380 charity auction
PayPal teams up with eBay Singapore and Singapore Airlines to hold the single most successful charity auction in the history of eBay and PayPal. Over US$1.3m in tickets sales are raised and donated to charity from over 20 different eBay sites in nine different languages & in 14 different currencies using PayPal.
November: A new international HQ for PayPal
To support PayPal's growing global business in Asia, PayPal announces the establishment of its new international headquarters and technology development centre in Singapore.
October-January: More ways to withdraw your money
PayPal announces withdrawal capabilities to a Visa® credit or debit card in 23 countries, including Malaysia, the Philippines, Indonesia, and India. Additionally, withdrawal to a local bank account becomes available to users in the Philippines, Indonesia, and India.
PayPal sponsors Contender Asia's finale - with over 450 million viewers in 50 countries.
May: PayPal continues international growth
PayPal continues to expand its services globally, with presence in 190 markets and 17 currencies.
May: PayPal speaks your language
In addition to English, three different languages can be selected on PayPal.com - simplified Chinese, French, Spanish.
August: PayPal gets a new logo and a new look
The new PayPal logo stays close to what customer know and trust, while presenting a bolder, and more confident expression of the company.
September: PayPal takes flight with the A380 charity auction
PayPal teams up with eBay Singapore and Singapore Airlines to hold the single most successful charity auction in the history of eBay and PayPal. Over US$1.3m in tickets sales are raised and donated to charity from over 20 different eBay sites in nine different languages & in 14 different currencies using PayPal.
November: A new international HQ for PayPal
To support PayPal's growing global business in Asia, PayPal announces the establishment of its new international headquarters and technology development centre in Singapore.
October-January: More ways to withdraw your money
PayPal announces withdrawal capabilities to a Visa® credit or debit card in 23 countries, including Malaysia, the Philippines, Indonesia, and India. Additionally, withdrawal to a local bank account becomes available to users in the Philippines, Indonesia, and India.
2008
January: Next generation of fraud tools
PayPal announces it will acquire Fraud Sciences to accelerate the development of next generation fraud tools.
March: More protection for eBay PowerSellers
In Hong Kong, UK, US, Canada, and Australia, PayPal launches an exclusive offer to provide eBay PowerSellers free protection in 190 markets from unauthorised payments and claims for items not received.
May: PayPal is available on eBay sites in Asia
Buyers making purchases on ebay.com.sg, ebay.com.hk, ebay.com.my, and eBay.ph can use PayPal to securely complete the eBay checkout process. Also, sellers in Hong Kong and Singapore are able to effortlessly offer PayPal on all of their listings, allowing them to accept credit cards.
September: Top up your PayPal account
In more than 15 countries, including Hong Kong and Singapore, PayPal users can use their bank account to 'Top Up' or add money to their PayPal account - giving them another way to pay for items using their PayPal accounts.
November: PayPal goes to Hong Kong and SingaporePayPal launches two new localised websites: PayPal Hong Kong and PayPal Singapore.
November: More languages. More customised experience
PayPal launches an enhanced website with tailored content and improved navigation for 173 countries, and in 8 new languages including Thai, Traditional Chinese and Indonesian Bahasa for our Asian users.
December: PayPal celebrates its 10th birthday!
PayPal announces it will acquire Fraud Sciences to accelerate the development of next generation fraud tools.
March: More protection for eBay PowerSellersIn Hong Kong, UK, US, Canada, and Australia, PayPal launches an exclusive offer to provide eBay PowerSellers free protection in 190 markets from unauthorised payments and claims for items not received.
May: PayPal is available on eBay sites in Asia
Buyers making purchases on ebay.com.sg, ebay.com.hk, ebay.com.my, and eBay.ph can use PayPal to securely complete the eBay checkout process. Also, sellers in Hong Kong and Singapore are able to effortlessly offer PayPal on all of their listings, allowing them to accept credit cards.
September: Top up your PayPal account
In more than 15 countries, including Hong Kong and Singapore, PayPal users can use their bank account to 'Top Up' or add money to their PayPal account - giving them another way to pay for items using their PayPal accounts.
November: PayPal goes to Hong Kong and SingaporePayPal launches two new localised websites: PayPal Hong Kong and PayPal Singapore.
November: More languages. More customised experience
PayPal launches an enhanced website with tailored content and improved navigation for 173 countries, and in 8 new languages including Thai, Traditional Chinese and Indonesian Bahasa for our Asian users.
December: PayPal celebrates its 10th birthday!Why Use PayPal
Join millions all over the world who already benefit from using PayPal. Best of all, it doesn’t cost you a thing to get started.
| Using PayPal to pay? | Using PayPal to get paid? | |
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| Free |
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| Simpler |
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| Safer |
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