Changes

eBay acquired PayPal on October 2002 for $1.5 billion and became its subsidiary. PayPal continued to offer its services to its costumers independently, however eBay decided to discontinue PayPal's online gaming business.eBay's Chief Financial Officer explained that the decision was due to the uncertain legal situations of online gaming. At that time the Congress was on the process of legislating a bill to ban oline gambling.<ref>[http://news.cnet.com/2100-1017-941964.html eBay picks up PayPal for $1.5 billion]</ref>

eBay acquired PayPal on October 2002 for $1.5 billion and became its subsidiary. PayPal continued to offer its services to its costumers independently, however eBay decided to discontinue PayPal's online gaming business.eBay's Chief Financial Officer explained that the decision was due to the uncertain legal situations of online gaming. At that time the Congress was on the process of legislating a bill to ban oline gambling.<ref>[http://news.cnet.com/2100-1017-941964.html eBay picks up PayPal for $1.5 billion]</ref>

==International Expansion==

===International Expansion===

In 2004, PayPal was introduced as payment option for eBay consumers in United Kingdom. Following in 2005, PayPal opened its first office in China and introduced its website under the simplified Chinese Name BeiBao 贝宝在中国推出。. By 2006, the company expanded in 103 markets and started accepting payments in different currencies.By 2007, PayPal introduced the VISA debit or credit card as a new method to withdraw money for users in 23 countries. PayPal users in the Philippines, Indonesia and India are able to withdraw their money through their local bank account. In 2008, the company have been operating different sites in Asia using 8 different languages. At present, PayPal has 153 million accounts within 173 countries and accepting transactions in 24 currencies around the world.<ref>[http://www.paypal-apac.com/sg/about-paypal/history-of-paypal.aspx PayPal History]</ref>

In 2004, PayPal was introduced as payment option for eBay consumers in United Kingdom. Following in 2005, PayPal opened its first office in China and introduced its website under the simplified Chinese Name BeiBao 贝宝在中国推出。. By 2006, the company expanded in 103 markets and started accepting payments in different currencies.By 2007, PayPal introduced the VISA debit or credit card as a new method to withdraw money for users in 23 countries. PayPal users in the Philippines, Indonesia and India are able to withdraw their money through their local bank account. In 2008, the company have been operating different sites in Asia using 8 different languages. At present, PayPal has 153 million accounts within 173 countries and accepting transactions in 24 currencies around the world.<ref>[http://www.paypal-apac.com/sg/about-paypal/history-of-paypal.aspx PayPal History]</ref>