Who is PayPal?
enables any business or consumer with an email address to
securely, conveniently, and cost-effectively send and
receive payments online. Our network builds on the existing
financial infrastructure of bank accounts and credit cards
to create a global, real-time payment solution. We deliver a
product ideally suited for small businesses, online
merchants, individuals and others currently underserved by
traditional payment mechanisms.
We seek to become the global standard for online payments,
offering our service to users in 45 countries. We have over
56 million registered users, including more than 5 million
Business accounts. Our account base is growing by an average
of 28,000 accounts per day, with virtually no traditional
sales or marketing.
The size of our network and widening acceptance of our
product has helped us become the leading payment network for
online auction websites, including eBay. PayPal is also
increasingly being used at other e-commerce sites for the
sale of goods such as electronics and household items, the
sale of services such as web design and travel, and the sale
of digital content. Offline businesses, including lawyers,
contractors and physicians, are increasingly using PayPal to
receive payments online.
Founded by Peter Thiel and Max Levchin, PayPal is
headquartered in San Jose, California. PayPal is the 2002
SIIA Codie Awards winner for "Best eCommerce Solution" and
is recognized by PC Magazine as one of "The Top 100 Web