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Paypal
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PayPal: A Fintech Giant's Trajectory PayPal Holdings, Inc., a US-based financial technology multinational, operates a globally recognised online payment system. Replacing traditional methods like checks and money orders, it processes payments for online vendors and auction sites, generating revenue ...
- Company type Public
- Industry Financial technology
- Founded December 1998
- Founders Ken Howery, Max Levchin, Luke Nosek, Yu Pan, Peter Thiel, Elon Musk, Harris Fricker, Christopher Payne, Ed Ho
- Headquarters San Jose, California, U.S.
- Area served Almost worldwide
- Key people John Donahoe, (chairman), Alex Chriss, (president and CEO)
- Revenue US$31.8 billion (2024)
- Net income US$4.15 billion (2024)
- Number of employees 24,400 (2024)
- Website www.paypal.com
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Paypal history
Last Updated : 27/03/25, 05:14 PM
PayPal: From Confinity to Global Payments Giant Founded in 1998 as Fieldlink, later renamed Confinity, the company initially focused on security software for handheld devices. A pivot to digital wallets led to the launch of the PayPal electronic payments system in 1999. A 2000 merger with Elon Musk'...
PAYPAL NEWS
PayPal registers with FIU under anti-money laundering law
February 20, 2024 4:04 pm
Official sources told PTI that the company has completed the formal procedure of being designated as a reporting entity under the Prevention of Money Laundering Act (PMLA) recently and has submitted the requisite documents to the Financial Intelligence Unit (FIU).
Payments firm PayPal to reduce global workforce by 9% in 2024
January 31, 2024 9:30 am
The company's low-margin business products have risen strongly, while growth in its branded products has slowed due to increased pressure from competitors such as Apple.
Delhi HC seeks Centre's stand in Paypal's plea against order holding it as 'payment system operator' under PMLA
September 06, 2023 8:31 am
Holding that Paypal is liable to be viewed as a "payment system operator", the single judge had said that it is "consequently obliged to comply with reporting entity obligations as placed under the PMLA".
PayPal moves HC against order holding it as 'payment system operator' under money laundering law
August 23, 2023 7:36 pm
Rohatgi was referring to an August 7 order passed by a Delhi HC division bench of the Chief Justice and Justice Subramonium Prasad which said Google Pay is a “mere third party app provider” for which no authorisation from the RBI is required under the provisions of the PSS Act.
Paypal is a payment system operator, has to comply with PMLA, says Delhi HC
July 26, 2023 9:52 pm
This means that Paypal has to comply with reporting entity obligations under the Prevention of Money Laundering Act, the court ordered.
PayPal to cut 2,000 jobs in push to trim costs
February 01, 2023 9:39 am
PayPal’s stock has been battered by the slowdown in growth in payments volume on its platform after the pandemic began to recede.
PayPal helped spur EU antitrust complaint against Apple payments
May 04, 2022 3:19 pm
Apple only lets its own payment system use the iPhone’s NFC chip, hampering PayPal and other apps, including Square’s Cash App and services from Samsung Electronics Co and Alphabet Inc's Google.
Explained: The PayPal-Paidy deal, and interest in the 'buy now, pay later' space
September 09, 2021 8:04 am
PayPal is buying Paidy, a 'buy now, pay later' firm, for $2.7 billion. What is the BNPL payment option, which has become very popular? Is it prevalent in India?
PayPal overhauls US rates as payments rivalry heats up
June 19, 2021 12:23 pm
The strategic shift reflects PayPal's growing power in online transactions, which surged during the Covid-19 pandemic.
PIL on PayPal operating ‘illegally’: Delhi HC seeks response from RBI, ED
March 11, 2024 11:43 am
A bench of Chief Justice D N Patel and Justice C Hari Shankar also issued notice to the RBI, ED and Paypal Payments Pvt Ltd, and sought their stand before the next date of hearing, September 18.
