PayPal enables any business or consumer with
an email address to securely, conveniently, and cost-effectively
send and receive payments online. Our network builds on the
existing financial infrastructure of bank accounts and credit
cards to create a global, real-time payment solution. We deliver
a product ideally suited for small businesses, online merchants,
individuals and others currently underserved by traditional
payment mechanisms.
We seek to become the global standard for online
payments, offering our service to users in 37 countries including
the United States. We have over 10.5 million registered users,
including more than 2.2 million business accounts. Our account
base is growing by an average of 18,000 accounts per day,
with virtually no traditional sales or marketing.
The size of our network and widening acceptance
of our product has helped us become the leading payment network
for online auction websites, including eBay. PayPal is also
being increasingly used at other e-commerce sites, for the
sale of goods such as electronics and household items, the
sale of services such as web design and travel, and the sale
of digital content. Offline businesses, including lawyers,
contractors and physicians, have increasingly begun to receive
payments online through PayPal. PayPal's service, which lets
users send payments for free, can be used from PCs or Web-enabled
mobile phones.
PayPal is a privately held company headquartered
in Palo Alto, California. PayPal was a Webby Award nominee
in both 2000 and 2001, and was named a Forbes Favorite Website
in the magazine’s May 2001 "Best of the Web" issue.
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