Foundation of Confinity
Confinity, the precursor to PayPal, was founded in December 1998 by Max Levchin, Peter Thiel, and Luke Nosek. The company initially focused on developing security software for handheld devices.
1998
1999
Launch of PayPal Service
In 1999, Confinity launched the PayPal service as a money transfer tool. The service quickly gained popularity for its ease of use and security features.
2000
Merger with X.com
In March 2000, Confinity merged with X.com, an online banking company founded by Elon Musk. The merged entity focused on the PayPal service.
2001
Rebranding to PayPal
In 2001, X.com officially rebranded itself as PayPal, Inc., reflecting its core business of online payments.
2002
IPO and Acquisition by eBay
PayPal went public in February 2002, and later that year, in October, it was acquired by eBay for $1.5 billion in stock. PayPal became the default payment method for eBay transactions.
2006
Expansion into Mobile Payments
PayPal expanded its services to include mobile payments, allowing users to send and receive money via their mobile devices.
2008
Introduction of PayPal Credit
PayPal introduced PayPal Credit (formerly known as Bill Me Later), a service that allows users to make purchases on credit and pay later.
2010
Acquisition of Braintree
PayPal acquired Braintree, a payment gateway company, to enhance its mobile and web payment capabilities.
2013
Launch of PayPal Here
PayPal launched PayPal Here, a mobile card reader that enables small businesses to accept credit and debit card payments via smartphones and tablets.
2014
Separation from eBay
eBay announced plans to spin off PayPal into a separate publicly traded company. The separation was completed in July 2015.
2015
PayPal Becomes Independent
PayPal became an independent company, trading on the NASDAQ under the ticker symbol PYPL.
2017
PayPal announced a partnership with Google to integrate PayPal as a payment option within Android Pay, enhancing its reach in the mobile payments market.
2018
Acquisition of iZettle
PayPal acquired iZettle, a European mobile payments company, for $2.2 billion, expanding its in-store payment solutions.
2020
Entry into Cryptocurrency Market
PayPal announced that it would allow users to buy, hold, and sell cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, directly from their PayPal accounts.
2021
Launch of PayPal Zettle
PayPal rebranded iZettle as PayPal Zettle, integrating it into its suite of payment solutions for small businesses.
2023
Introduction of PayPal Savings
PayPal launched PayPal Savings, a high-yield savings account offered in partnership with Synchrony Bank, further expanding its financial services.
