PayPal is an Internet business which allows the transfer of money between email users, avoiding traditional paper methods such as cheque and money orders. PayPal also performs payment processing for e-commerce vendors, auction sites, and other corporation users, for which they charge a fee. Corporate headquarters are in San Jose, California, California. ==History== PayPal was founded in 1998 by Peter Thiel and Max Levchin. One of its first premises was the 165 University Avenue office in Palo Alto, California, home of a number of other noted Silicon Valley startups. In its initial incarnation, PayPal was a service for users to send money via personal digital assistants. While the PDA concept was a flop, the web-based payment system began to catch on. With aggressive marketing campaigns offering $10 (and later $5) for new users to sign up, the firm grew at a meteoric rate of 7–10 percent per day between January and March 2000 [http://www.wired.com/wired/archive/9.09/paypal.html]. PayPal was acquired by eBay in October 2002. PayPal had previously been the payment method of choice by over fifty percent of eBay users, and the service competed with eBay's subsidiary BillPoint. eBay has phased out its BillPoint service in favor of retaining the PayPal brand. PayPal's only substantially similar competitor is now BidPay, after Citibank's c2it service closed in late 2003, and Yahoo!'s Paydirect service closed in late 2004. PayPal now allows money to be sent to 45 countries around the globe and has over 65 million registered users. As of 2002, PayPal can no longer be used for gambling purposes. In 2005 PayPal announced plans to pursue the [http://www.paypal.com/merchantservices Merchant Services] opportunity, the website payments business off of eBay. ==Legal issues== Due to the manner in which PayPal operates, it does not qualify as a bank and is not obligated to abide by the legislation that governs banks. PayPal is considered a money transmitter in many states and is licensed as such where required. PayPal is the most widely used service of its kind. However, a number of users have had frustrating situations with PayPal authorities. A controversial aspect of PayPal is that they have a policy and history of freezing accounts and withholding funds for reasons that they will not disclose. Another controversial aspect is that PayPal is not subject to normal banking regulations, which means that users do not have many of the legal safeguards they would with conventional banks. In March 2002, two PayPal account holders separately lawsuit the company for alleged violations of the Electronic Funds Transfer Act (EFTA) and California state law. Most of the allegations concerned PayPal's dispute resolution procedures. PayPal denies any wrongdoing. The two lawsuits were merged into one class action lawsuit, ''In re PayPal litigation''. An informal settlement (law) was reached in November 2003, and a formal settlement was signed on June 11, 2004. The settlement requires that PayPal change its business practices, including changes to its dispute resolution procedures to make it compliant with the EFTA, as well as a United States dollar9.25 million payment to members of the class. ==Books== * (Paperback, 368 pages) [http://www.paypalhacks.com PayPal Hacks] * (Hardcover, 360 pages) * (Paperback, 410 pages) [http://www.dummies.com/WileyCDA/DummiesTitle/productCd-0764583921.html PayPal for Dummies] ==External links== * [https://www.paypal.com/ PayPal] * [https://www.bidpay.com/ Bidpay] * Anti-PayPal websites ** [http://www.paypalwarning.com/ www.paypalwarning.com] #Footnotes ** [http://www.aboutpaypal.org/ www.aboutpaypal.org] #Footnotes ** [http://www.paypalsuit.com/ PayPal Fraud and Complaint Forum] ** [http://www.paypalsucks.com/ www.paypalsucks.com], [http://www.paypalsucks.com/forums/showthread.php?fid=6&tid=1529&old_block=0 ex-paypal worker], [http://adzoox.com/paypalsucks.html Comment on paypalsucks.com] ** [http://paypal.haters.info/ paypal.haters.info] * Slashdot page about [http://slashdot.org/article.pl?sid=04/05/18/0128201 PayPal's May 2004 suspension] of Freenet's account * [http://www.ppcalc.com PPCalc], PayPal fee calculator with many advanced options * [http://www.epinions.com/finc-Financial_Services-Online-Bills-PayPal/display_~reviews PayPal User Reviews at "Epinions.com"] * [http://www.settlement4onlinepayments.com/ PayPal settlement website] * [http://www.paypal.com/cgi-bin/webscr?cmd=p/xcl/rec/ipn-intro-outside PayPal Instant Payment Notification (IPN)], PayPal's ability to communicate back to the shopping site to allow transaction information to be stored on that shopping site * [http://www.internet-story.com/paypal.htm PayPal], history of PayPal from Internet-Story.com ==Footnotes== 1 These sites are run by competitors of PayPal and the content on these sites may be biased. Electronic commerce Economic websites Payment systems
How long has PayPal been down? It should probably be mentioned if they were closed or something like that. I have been unable to send money from any computer for several months, but can find no evidence that the shutdown ever occurred. :It's working fine - I just logged on now. -- User:Arwel Parry 00:55, 20 Feb 2004 (UTC) == pp feez == Shouldn't we add something about the rather high fees that pp charges? have we been over this one already? ==Legal issues== I created a section titled Legal issues and moved the paragraph on bank regulation into it. I also wrote up a second paragraph in the section, regarding the [http://www.settlement4onlinepayments.com/ class action lawsuit] against PayPal. I encourage people to take a look at the section with an eye towards (a) coming up with a better section heading (if necessary); (b) providing more background/detail on the lawsuit; and (c) possibly providing some cohesiveness between the two paragraphs in the section, I assume the issues are related. - User:Walkiped 20:07, 13 Mar 2005 (UTC)
#REDIRECT PayPal
See other meanings of words starting from letter:
Words begining with Paypal:
PayPal
PayPal
Paypal
PayPal.com
PayPal
PayPal is an Internet business which allows the transfer of money between email users, avoiding traditional paper methods such as cheque and money orders. PayPal also performs payment processing for e-commerce vendors, auction sites, and other corporation users, for which they charge a fee. Corporate headquarters are in San Jose, California, California. ==History== PayPal was founded in 1998 by Peter Thiel and Max Levchin. One of its first premises was the 165 University Avenue office in Palo Alto, California, home of a number of other noted Silicon Valley startups. In its initial incarnation, PayPal was a service for users to send money via personal digital assistants. While the PDA concept was a flop, the web-based payment system began to catch on. With aggressive marketing campaigns offering $10 (and later $5) for new users to sign up, the firm grew at a meteoric rate of 7–10 percent per day between January and March 2000 [http://www.wired.com/wired/archive/9.09/paypal.html]. PayPal was acquired by eBay in October 2002. PayPal had previously been the payment method of choice by over fifty percent of eBay users, and the service competed with eBay's subsidiary BillPoint. eBay has phased out its BillPoint service in favor of retaining the PayPal brand. PayPal's only substantially similar competitor is now BidPay, after Citibank's c2it service closed in late 2003, and Yahoo!'s Paydirect service closed in late 2004. PayPal now allows money to be sent to 45 countries around the globe and has over 65 million registered users. As of 2002, PayPal can no longer be used for gambling purposes. In 2005 PayPal announced plans to pursue the [http://www.paypal.com/merchantservices Merchant Services] opportunity, the website payments business off of eBay. ==Legal issues== Due to the manner in which PayPal operates, it does not qualify as a bank and is not obligated to abide by the legislation that governs banks. PayPal is considered a money transmitter in many states and is licensed as such where required. PayPal is the most widely used service of its kind. However, a number of users have had frustrating situations with PayPal authorities. A controversial aspect of PayPal is that they have a policy and history of freezing accounts and withholding funds for reasons that they will not disclose. Another controversial aspect is that PayPal is not subject to normal banking regulations, which means that users do not have many of the legal safeguards they would with conventional banks. In March 2002, two PayPal account holders separately lawsuit the company for alleged violations of the Electronic Funds Transfer Act (EFTA) and California state law. Most of the allegations concerned PayPal's dispute resolution procedures. PayPal denies any wrongdoing. The two lawsuits were merged into one class action lawsuit, ''In re PayPal litigation''. An informal settlement (law) was reached in November 2003, and a formal settlement was signed on June 11, 2004. The settlement requires that PayPal change its business practices, including changes to its dispute resolution procedures to make it compliant with the EFTA, as well as a United States dollar9.25 million payment to members of the class. ==Books== * (Paperback, 368 pages) [http://www.paypalhacks.com PayPal Hacks] * (Hardcover, 360 pages) * (Paperback, 410 pages) [http://www.dummies.com/WileyCDA/DummiesTitle/productCd-0764583921.html PayPal for Dummies] ==External links== * [https://www.paypal.com/ PayPal] * [https://www.bidpay.com/ Bidpay] * Anti-PayPal websites ** [http://www.paypalwarning.com/ www.paypalwarning.com] #Footnotes ** [http://www.aboutpaypal.org/ www.aboutpaypal.org] #Footnotes ** [http://www.paypalsuit.com/ PayPal Fraud and Complaint Forum] ** [http://www.paypalsucks.com/ www.paypalsucks.com], [http://www.paypalsucks.com/forums/showthread.php?fid=6&tid=1529&old_block=0 ex-paypal worker], [http://adzoox.com/paypalsucks.html Comment on paypalsucks.com] ** [http://paypal.haters.info/ paypal.haters.info] * Slashdot page about [http://slashdot.org/article.pl?sid=04/05/18/0128201 PayPal's May 2004 suspension] of Freenet's account * [http://www.ppcalc.com PPCalc], PayPal fee calculator with many advanced options * [http://www.epinions.com/finc-Financial_Services-Online-Bills-PayPal/display_~reviews PayPal User Reviews at "Epinions.com"] * [http://www.settlement4onlinepayments.com/ PayPal settlement website] * [http://www.paypal.com/cgi-bin/webscr?cmd=p/xcl/rec/ipn-intro-outside PayPal Instant Payment Notification (IPN)], PayPal's ability to communicate back to the shopping site to allow transaction information to be stored on that shopping site * [http://www.internet-story.com/paypal.htm PayPal], history of PayPal from Internet-Story.com ==Footnotes== 1 These sites are run by competitors of PayPal and the content on these sites may be biased. Electronic commerce Economic websites Payment systems
PayPal
How long has PayPal been down? It should probably be mentioned if they were closed or something like that. I have been unable to send money from any computer for several months, but can find no evidence that the shutdown ever occurred. :It's working fine - I just logged on now. -- User:Arwel Parry 00:55, 20 Feb 2004 (UTC) == pp feez == Shouldn't we add something about the rather high fees that pp charges? have we been over this one already? ==Legal issues== I created a section titled Legal issues and moved the paragraph on bank regulation into it. I also wrote up a second paragraph in the section, regarding the [http://www.settlement4onlinepayments.com/ class action lawsuit] against PayPal. I encourage people to take a look at the section with an eye towards (a) coming up with a better section heading (if necessary); (b) providing more background/detail on the lawsuit; and (c) possibly providing some cohesiveness between the two paragraphs in the section, I assume the issues are related. - User:Walkiped 20:07, 13 Mar 2005 (UTC)
Paypal
#REDIRECT PayPal
See other meanings of words starting from letter:
P
PA | PB | PC | PD | PE | PF | PG | PH | PI | PJ | PK | PL | PM | PN | PO | PR | PS | PT | PU | PW | PX | PY | PZ |Words begining with Paypal:
PayPal
PayPal
Paypal
PayPal.com
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