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PayPal (view source)

Revision as of 18:02, 5 December 2011

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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>

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~~==PayPal Business Model==~~

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PayPal's business model allows costumers to choose how to conduct their transactions. Customers can send and received payments by:<ref>[http://www.law.unc.edu/documents/journals/articles/289.pdf Online Peer-to-Peer Payments:PayPal Primes the Pump, Will Banks Follow?]</ref>

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* providing fund in a bank account where a customer has access to it

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* using a Wells Fargo Bank wire transfer in behalf of PayPal to a third party bank account in the name of the customer

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* Wells Fargo Bank processing a check payable to a customer who is selling goods or services

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* sweeping funds in the PayPal Money Market Fund to purchase shares in the customers name

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* pooling funds with other customer funds and putting it at a FDIC-insured bank under the bank account PayPal, Inc., which serves as agent for the benefit of its customers

==International Expansion==

Marie Cabural

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