PayPal started when 6 people founded Confinity.

Ken Howery, Max Levchin, Luke Nosek, Yu Pan, Russel Simmons, and Peter Thiel founded the software company Confinity in 1998. Upon its founding, Confinity specialized in security software for handheld devices. However, the company launched its flagship service in 1999, in the form of PayPal.

In the year 2000, PayPal merged with Elon Musk's company.

Since then, the American company shifted its main focus into the money transfer business. The company was still known as Confinity when it merged with Elon Musk’s online banking site, X.com.

PayPal works by facilitating money exchange in a secure online transaction.

Among the many uses of PayPal is for making online transactions. Since users can link their PayPal accounts to their personal bank accounts, this makes it convenient for money transfers and payments.

The company first had the PayPal logo after officially changing its Confinity name.

On its first release, the PayPal logo simply featured a white wordmark with a blue-outlined font. Despite the simplicity, this logo carried PayPal to its mainstream use.

The PayPal logo underwent its first revision in 2007.

Compared to the old one, the new PayPal logo featured two shades of blue. It also bore a cleaner typeface with larger spaces between the letters.

Designers critiqued that the older version was better than the 2007 PayPal logo revision.

Critics noted how the old PayPal logo could work on different backgrounds, while the new one would automatically be in poor contrast against blue backgrounds. While another edit was made in 2012, the revamped PayPal logo still featured the same color scheme, only with a slightly rounder typeface.

The current PayPal logo was introduced in 2014.

A design firm based in San Francisco, CA created PayPal’s current logo. The latest PayPal logo debuted with a new wordmark, an icon, and a new PayPal interface.

The most noticeable feature of the 2014 PayPal featured a new ‘a’ character.

This version also had a clean, round sans-serif type, and wider letters especially observed in the ‘y’ character.

eBay owned PayPal from 2002-2015.

In October 2002, the eBay acquired the PayPal for $1.5 billion. eBay saw how PayPal became the preferred payment method for users on the Internet auction site. During this period, the Internet auction company used the money transfer platform almost exclusively.

PayPal branched out as an independent company in 2015.

Still, eBay continues to offer PayPal as a payment method. The online auction company collected fees on certain transactions based on the amount, nature, and currency used in the transaction.

Various retail and institutional investors own PayPal stock.

Among PayPal’s primary shareholders are BlackRock Inc. (6.41%), State Street Corp (3.94%), Capital World Investors (1.76%), Edgewood Management LLC (1.48%), Geode Capital Management LLC (1.43%) and Nuveen Asset Management LLC (1.3).

Company insiders also own PayPal stock.

Aside from institutional shareholders, some people within the company also own PayPal Stock. Over the last year alone, PayPal has traded a total of 2,342,844 from insider shares.

PayPal has superior anti-phishing and anti-hacking measures.

One of PayPal’s anti-[hishing measures is the development of a portable ‘key’ device. This device requires manual activation prior to the processing of a transfer from a PayPal account.

PayPal policies protect both buyers and sellers.

If a buyer makes a payment through PayPal, they can request a refund for unsatisfactory purchases, as long as it’s within the guidelines. On the other hand, seller accounts include a system where accounts with suspicious or excessive activity are deactivated.

PayPal stock has been on a consistent track since 2010.

The online payment system earned 29 cents per share that year. Since then, it maintained consistency in terms of earnings and sales growth.

In 2019, PayPal stock reported $3.10 of worth per share.

At this point, analysts projected the firm’s growth up to 9% or $3.24 per share by 2020.

On March 11, 2020, PayPal stock trading places at $103.90.

When the coronavirus (COVID-19) reached pandemic status as per the World Health Organization (WHO), PayPal amassed a surge in market value. Since then, PYPL stock grew by 40.8%, with the trading rate now at $146.24.

PayPal currently operates in 200 countries.

However, Paypal is still unavailable in countries like Afghanistan, Antarctica, Cuba, Iraq, North Korea, Pakistan, and Turkey.

PayPal used to grant new users with cash.

Some time in 2000, PayPal rewarded newly-registered users with money from $5-$20. Although short-lived, this promotional move proved effective as the number of PayPal accounts jumped from 1 million to 5 million over summer and spring that same year. Today, PayPal has over 300 million active users.

PayPal acquired the VeriSign payment solution in 2005.

This acquisition aimed to expand the company’s e-commerce business. PayPal also partnered with MasterCard to create the PayPal Secure Card Service.

In 2008, PayPal acquired Fraud Sciences for $169 million.

PayPal’s acquisition of this Israeli start-up enhanced PayPal’s fraud management practices. In the same year, another acquisition was made with online payments company Bill Me Later. With this move, PayPal was able to offer credit to over 9,000 online merchants in the U.S.

PayPal made more acquisitions in 2013.

Among these acquisitions were IronPearl for engagement software and Braintree for enhancing PayPal’s product development and mobile services.

When PayPal separated from eBay, it became a public traded company.

By this point, American business executive Dan Schulman headed the company as PayPal’s CEO. The following year, PayPal acquired US-based company Xoom Corporation for $25 a share. From here, PayPal strengthened its international business, gaining 1.3 million active customers.

iZettle has been the company’s largest acquisition which PayPal got for $2.2 billion.

The Swedish company’s acquisition helped PayPal enhance their digital marketing reach. When PayPal partnered with Instagram in 2019, it added the new feature “Checkout on Instagram.”

PayPal erroneously credited $92,233,720,368,547,800 to a man named Chris Reynolds.

In June 2013, the Pennsylvania PR executive immediately became the richest man in the world. Reynolds never would have dreamt of such things even when he spent his spare time selling auto parts on eBay. According to Reynolds, the most he has ever made was only a little over $1,000 for a set of vintage BMW tires.

PayPal offered to donate an unspecified amount of money to a cause of Reynolds' choice.

After the mishap, PayPal offered to donate to a cause of Reynolds’ choosing as an apology. When asked what he would have done with such an amount, Reynolds replied, “I probably would have paid down the national debt.”

PayPal is a multi-awarded service.

Since its establishment, PayPal has received 20 different awards from the online and business industry. In 2006, PayPal won the Webby People’s Voice Award for Best Financial Services Site.

PayPal won 5 awards from 2018 to 2019.

PayPal most recently earned the awards for Best Company Perks & Benefits and Best CEO in 2019, among others. In the year prior, the money transfer company bagged the Silver Award at the 2018 American Business Awards.

In 2014, PayPal achieved the Zinnov Awards under the category ‘High Impact Global Roles.’

Another award PayPal received was the Fоrеіgn Dіrесt Іnvеѕtmеnt (FDI) Соmраnу оf thе Yеаr аwаrd аt thе 2017 Вuѕіnеѕѕ аnd Fіnаnсе Іrіѕh Вuѕіnеѕѕ Аwаrdѕ.

PayPal customer service limited its staffing due to the COVID-19 pandemic.

Hence, waiting times and responses might take a bit longer than usual. Still, users can find answers on the FAQs or send PayPal customer service a message.

There are 3 ways to contact PayPal customer service.

Users can message, which is just like plain texting, and connect with online members by asking the community. Lastly, there PayPal customer service also offers a resolution center to address transaction issues and more.

PayPal Resolution Center is an in-site feature where users can report issues.

Users can go to PayPal Resolution center for inquiries on a specific transaction, resolving limitations, and reporting unauthorized activity. Moreover, PayPal Resolution Center offers important tips for safer buying and selling, so it’s best to read up on it before making any purchase.

Users can do various actions in the PayPal Resolution Center.

Sellers can respond to a transaction problem and communicate with the buyer through PayPal Resolution Center.

Among the most misunderstood PayPal facts are PayPal fees, which vary per transaction.

Basic transactions such as sending and receiving money between U.S. PayPal accounts require no PayPal fees. Transferring funds from PayPal to a bank account is free as well. However, instant transfers require a PayPal fee of 1% of the amount, capped at $10 per transaction.

Receiving money from friends or family in the U.S. requires no PayPal fees.

Users can send money from the PayPal website by using only their PayPal balance or bank account. It can also be a combination of the PayPal balance and bank account.

PayPal fees are charged when the users send money with debit or credit cards.

This policy applies even when sending money to a friend or family member. These transfers are subject to a 2.9% charge plus a fixed amount depending on the currency used.

PayPal charges additional fees for sending money to people from other countries.

For such instances, PayPal fees would be at least 5% of the amount sent, plus $0.99-$4.99 depending on various circumstances.

PayPal fees also vary with the receiver’s country of residence.

This fixed fee is in addition to the PayPal fees of 2.9% when using a credit or debit card for the transfers.

Merchants who use PayPal for processing payments need to pay PayPal fees for each transaction.

Within the U.S., the PayPal fee would be 2.9% plus 30 cents. For eligible charities, PayPal offers a discounted fee at 2.2% plus 30 cents. Meanwhile, international sales require 4.4% plus a fixed amount varied per country. With a PayPal Here card, the fee would be 2.7% per swipe, or 3.5% plus 15 cents for manual transactions.

The most famous PayPal scams use the warning, "Your account is about to be suspended."

Fraudsters using this method would send fake emails warning that an account is about to get suspended. An unsuspecting user may end up inputting their password on a fake webpage, essentially getting phished of their bank details.

PayPal never asks users to enter their password unless they are on the login page.

This automatically discredits most PayPal scams. Still, users can report any suspect email by forwarding it to spoof@paypal.com for verification.

The “You’ve been paid.” message is another of the famous PayPal scams.

This method tricks users into thinking that they have received a payment, with the aim to get the user’s merchandise for free. Hence, it is important to note that users must log in to their PayPal account to check the said payment before shipping anything.

Stripe vs PayPal has varied results depending on different terms.

Both platforms charge 2.9% + $0.30 per online transaction and support invoicing and recurring billing. However, PayPal is available in more countries than Stripe is. PayPal is accessible in 200+ countries, whereas Stripe only operates in over 30 countries at the moment.

Stripe vs PayPal differs in micropayment rates.

For transactions less than $10, Stripe offers micropayment support with the same flat rate as their standard fee per transaction. On the other hand, PayPal charges 5% + .05¢ per transaction.

In terms of chargeback fee, Stripe is better than PayPal.

The former only charges $15 while PayPal has a chargeback fee of $20. When a customer gets a refund, Stripe would not return any processing fees. Meanwhile, PayPal only returns the fixed fee but not the percentage.

PayPal customer service closes for certain hours while Stripe is open 24/7.

This puts the online payments system to a disadvantage. Nonetheless, Stripe vs PayPal has varying customer service ratings, which can be frustrating for both parties at times.

Stripe is more customizable than PayPal.

Still, Stripe requires more development knowledge for embedding features like a Pay With Card button on a site. It can be quite tricky for non-technical users. Further, setting up with WPForms is easy for both Stripe and PayPal as they are both available in pre-built form templates with the standard add-ons.

Stripe vs PayPal also differs in payout times.

While Stripe automatically deposits funds into the bank account in 2 days, PayPal holds the funds readily available on the standard PayPal account. When transferring funds from a PayPal account to a bank account, the platform has an average 2-4 day payout time.

The first difference of Venmo vs PayPal is that PayPal owns Venmo.

As a mobile payment service, Venmo allows U.S.-based users to send money to friends and family and make in-app purchases. Former college roommates created Venmo in 2009, and the platform grew and evolved even until under the hands of its new owner.

Venmo vs PayPal has not much of a difference in terms of function.

PayPal is commonly defined as an “eCommerce company that allows for payments between two parties through the online transferring of funds.” Meanwhile, Venmo simply aims to provide a safe and easy way to send cash to friends and family.

Venmo is currently unavailable outside the U.S.

This automatically takes points from the mobile app as PayPal continues to thrive internationally. PayPal transactions can reach people in other countries in a wide range of currencies.

PayPal is the ideal option for people running a business and needs to process payments online.

On the other hand, Venmo is better for when friends wish to split a bill, share messages, and connect socially. Venmo vs PayPal can be similar and different at the same time in terms of purpose.

PayPal Shipping allows users to purchase U.S. Postal Service and UPS shipping labels online.

To do this, all a user would need is a PayPal account. Upon purchasing a label, the user would only need to print and affix it to the package before giving it to the carrier.

PayPal Shipping rates vary on how much a merchant charges its customers for shipping items.

Flat-rate shipping applies to single items. However, there is an incremental shipping fee for purchases with more than one item.

Users can compute complex shipping rates with the PayPal Shipping Calculator.

This feature sets the shipping rates based on the order amount, order weight, or item quantity. Moreover, the PayPal Shipping Calculator allows users profiles for different regions or states.

It's possible to resolve a PayPal dispute with a seller.

When making payments through PayPal, there may be cases where a purchased item never arrives, the purchase fails to be authorized, or a different item arrives. For instances of a similar PayPal dispute, the platform can help users resolve it and refund their money.

An unresolved PayPal dispute can be claimed within 180 days of the transaction.

After this window, PayPal steps in to help resolve the issue by investigating and gathering additional information before reaching a decision. It is usually done within 30 days, with the money refunded to the customer if the claim is settled in their favor.

Users can buy bitcoin with PayPal.

It is not possible to purchase bitcoin directly from PayPal. However, users can get Bitcoin via PayPal through trading platforms like Etoro or a peer-to-peer marketplace like Paxful.

PayPal launched a peer-to-peer payment platform called PayPal.Me.

This feature enables users to send custom links to request money transfer and payments. Moreover, these requests can be conveniently done via message and email.

PayPal.Me was launched in over 18 countries.

Other than the U.S., PayPal.Me has launched in Australia, Canada, France, Germany, Italy, Russia, Spain, Turkey, and the U.K.

PayPal login requires an email address and a password.

As these details are required for each PayPal login session, so it’s advisable for users to have a confidential password.

A PayPal account resembles a digital wallet.

Not only does a PayPal account protect a user’s data, but it also helps them get more out of their purchases. PayPal allows customers to shop and pay without the need to type in payment card details every time. A PayPal account keeps financial details stored and private on an encrypted network, so your information would be safe unless someone gets ahold of your password.

The PayPal fee calculator determines fees when sending or receiving money through the platform.

With a PayPal fee calculator, a user can quickly and easily identify deductions for each PayPal transaction.

PayPal business accounts are the proper type for registered businesses.

This type of PayPal account offers additional features such as giving employees limited access to a merchant’s account. Before closing a PayPal business account, the user has to transfer their balance whether electronically or by check.

A PayPal invoice can be sent to a customer via link.

Likewise, the customer can view the link to the invoice with which they can securely pay using a credit or debit card, PayPal, or PayPal Credit. Regardless of the payment used, the sender of the PayPal invoice can receive the payment sent within minutes.

Sending or managing a PayPal invoice has no costs.

Merchants would only be charged with the standard processing fee once they got paid online. Aside from managing their invoices, the merchants can also view the status, and manually record payments in the platform. They can create and manage their invoices from the PayPal Website, PayPal Business Mobile app, or the Invoicing API.

Users can transfer money to other PayPal users with the Send & Request tab at the top of the page.

PayPal users can send cash to friends and family for free within the U.S. Still, it is important to pay the full amount through a bank, PayPal Cash, or PayPal Cash Plus account. Otherwise, there would be a small charge for payments made with a debit or credit card.

Users can add a PayPal Donate Button to their sites.

By simply clicking on the PayPal Donate Button or link, donors can choose to pay with a credit/debit card, or PayPal account. This sees donations go directly into the users’ PayPal account for easy tracking.

PayPal fees are discounted for donations at only 2.9% + $0.30 per transaction.

PayPal offers discounted transfer rates for 501(c)(3) charities as well as nonprofits.

PayPal Giving Fund helps users support their chosen charities online.

This American online company receives donations through its own site, eBay, and other technology platforms. Then, PayPal awards grants to the donors’ recommended charity.

Customers can request a PayPal refund when needed.

They can request a refund of a completed payment by sending an email to the seller. Another way is by asking the seller to go to the Transaction Details to select the ‘Issue a Refund’ option.

A PayPal refund can only be requested up to 180 days after paying for the item.

Still, customers can still cancel a delivered payment on pending status in the Activity page as long as it still has the ‘Cancel’ button next to it. An unclaimed payment within 30 days would automatically be refunded to the sender.

A PayPal loan is a fixed-term loan that businesses automatically repay with a scheduled payment.

Once approved, the lender transfers the amount directly into the PayPal Business account. Transactions can be processed as quickly as the next day for applications approved by 5 p.m. ET on bank business days.

PayPal strictly regulates loans for users with a PayPal Business account.

PayPal also requires for businesses to be at least 9 months in operation, with at least $42,000 in total annual revenue generated, and no active bankruptcies. Moreover, the business applying for a PayPal loan must be located within the 50 United States and DC and the owner must have a FICO score of at least 550.

A Wyoming citizen once reported 2 PayPal scams.

In the first one, he received an email from “service@intl.paypal.com.” However, hovering on the ‘from’ field reveals that the email was really from buldsosades-ifs136s.c3wja62@keheednaaa.com. The mail had a subject line that said “New Information – Your account was restricted on: Thursday April 30, 2020,” and contained button links redirected to https://siaakehheed.com/0Fu9lf9.

PayPal scams are characterized by poor grammar.

If you want to avoid getting scammed out of your life’s savings, you may want to brush up on your grammar. The general rule of thumb for identifying these scams is that bad grammar is a dead giveaway.

One PayPal scam had glaringly obvious improper use of capitalization and poor grammar. Unlike the first one, this email scam came from  “BILLING CONFIRMATION <bcraighead60@gmail.com>,”  and bore the subject line, “Order Confirmation (Ref-PPL298769876PPL)PAYMENT.”

PayPal Credit is an open-end credit card account.

The PayPal Credit Card provides a reusable credit line built into an account with PayPal. Hence, it gives users the flexibility to pay for purchases right away or over time. Offered by Synchrony Bank, PayPal Credit is easy to use whenever needed.

The PayPal Prepaid Mastercard can be used everywhere Debit Mastercard is accepted.

To have a PayPal Prepaid card, users must order online. They can receive the card in the mail within 7-10 business days once their information has been verified. Lastly, the PayPal Prepaid Mastercard is subject to activation and identity verification.

Users can add a PayPal gift card to their PayPal wallet during checkout.

With PayPal gift cards, they can also choose a prepaid card that has enough balance to cover the total amount to pay.

Unwanted PayPal gift cards can be exchanged for cash in PayPal balance via CardCash.

Account holders can then use the balance to make payments, shop online at stores that accept PayPal, or even transfer the amount to a bank account.

The PayPal Debit Card or PayPal Cash Card requires no cost.

PayPal never charges annual or monthly fees, PayPal Debit Card purchase price, nor cash access fees for MoneyPass ATMs.

PayPal can be used as a payment option on Amazon.

This applies to both PayPal Cash Card or PayPal Business Debit Mastercard. For users with a personal PayPal account and would like a PayPal debit card, they can request a PayPal Cash Card. On the other hand, PayPal business account users can apply for a PayPal Business Debit Mastercard. Either way, customers can use PayPal on Amazon.

Users' information is safe in PayPal.

The receiver does not receive sensitive financial information like the sender’s credit card or bank account number. Hence, there is no need to worry about sending money to strangers.

The PayPal Purchase Protection covers users who pay with PayPal on other websites.

If you don’t receive an item, or receive the wrong one, this warrants a full refund from the seller. Likewise, PayPal also protects merchants by monitoring their online sales and business.

A PayPal account with limitations, unresolved issues, or a balance can not be deleted.

Otherwise, users can delete their accounts by clicking Settings next to “Log Out.” Then, click “Close your Account” under Account options to enter the bank account number when requested. Lastly, the user must click “Close Account.” to deactivate their PayPal.

When an account is deleted, any unpaid money requests are automatically canceled.

The user also loses any unused redemption codes or coupons once they delete their PayPal account.

Users must remove an unconfirmed email address on the PayPal account before deleting it.

They must make sure to withdraw any money remaining in the PayPal account before closing it as well. Options include transferring the money electronically to a bank account, or by asking PayPal to send a check. However, there is a PayPal fee of $1.50 for sending a check.

Users can add money to PayPal by linking a bank account to their PayPal account.

Other ways to add money to a PayPal account is by receiving money from family or friends, adding money online using the PayPal app, adding cash using the PayPal cash app, and adding money by using a check.

Users can transfer money from PayPal to the bank through its "Add money" feature.

Upon selecting this feature below their PayPal balance, users must select the desired bank account > enter the amount to transfer > click Add. Always remember to review the transfer details before clicking Submit.

Transferred funds usually appear on the PayPal balance within 3-5 business days,

One of the important PayPal facts to note: PayPal requires the same name for your bank account and PayPal account for a successful transaction.

The recipient’s email address or mobile number is needed to pay someone with PayPal.

Alongside these details, the sender should also determine the amount to be sent and the currency to be used. Then, they can select a preferred payment method which they can easily and securely track. Services include notifications per transaction.

Users can receive money on PayPal through their email address or mobile number.

Notifications are also in place for when the money is successfully transferred to the PayPal account. The receiver can accept the money by opening the PayPal account and confirming the email address used.

By going to the Summary page, users can access their money from their PayPal Cash/Plus account.

Then, they can choose to transfer the funds to their bank account or keep their funds in their PayPal account. Either way, they can use their available balance to send money to friends and family or even shop online.

A PayPal payment can only be canceled if it has a “Cancel” link next to it.

To cancel a PayPal payment, the user must go to the Summary page > locate the pending payment > click Cancel under the pending payment > click Cancel Payment.

A completed payment can not be canceled.

Hence, the customer must contact the recipient or seller to request a refund. Any PayPal dispute that can possibly arise can be opened in the Resolution Center where both parties can communicate directly with each other.

Users can check their PayPal balance on the Wallet page of their PayPal account.

This method applies to any pending balance as well for incoming payments that are currently pending. The same page also shows any foreign currency balances that the account may hold.

Chargeback on PayPal is only available to buyers who make a payment with their credit/debit card.

A chargeback refers to when a buyer asks their credit or debit card issuer to reverse a completed transaction. However, the process is bound by the card issuer’s regulations and time frame as it is initiated and decided by the issuer.

A buyer can only file a PayPal chargeback 120 days or more after making the purchase.

On the other hand, the seller only has 10 days to respond to a chargeback request. These processes usually take up to a few weeks depending on the complexity of the case. In some instances, chargebacks can take 75 days or more to process.

Users can get chargebacks on the PayPal debit card.

This setting is similar to that of any other credit or debit card where the cardholder demands a refund from the bank. On average, the amount takes 3-5 days to come back to the user’s account.

Three PayPal employees started Youtube.

Three of the first PayPal employees, Chad Hurley, Steve Chen, and Jawed Karim, started Youtube so they can share a video of Karim in a zoo. How’s that for PayPal facts?