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eBay, PayPal, Kijiji and StubHub, 500 King Street West, Toronto, April 2014. PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers; it serves as an electronic alternative to traditional paper methods such as checks and money orders.
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He put up a PayPal button after a request from a fan; similarly, a subscriber system was added later. In the next five months, they made around $300, which brought in only enough to cover the site's $20 hosting cost. [ 42 ]
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The combined entity, initially called X.com, later changes its name to PayPal. PayPal adopts eBay as a key platform to grow its userbase, because of the need for an online payment system on eBay. eBay responds with its own payment service, Billpoint. PayPal competes fiercely with Billpoint, raises a large amount of money, and IPOs in February 2002.
An early attempt at making micropayments work, iPIN was a 1998 venture-capital-funded startup that provided services that allowed purchasers to add incremental micropayment charges to their existing bill for Internet services. [13]
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