PayPal Holdings, Inc. – An American company operating a worldwide online payments system. Online money transfers serve as electronic alternatives to traditional paper methods like checks and money orders. PayPal is one of the world’s largest internet payment companies. The company operates as an acquirer, performing payment processing for online vendors, auction sites and other commercial users, for which it charges a fee.
Established in 1998, PayPal had its IPO in 2002, and became a wholly owned subsidiary of eBay later that year. It was spun off as an independently traded company in July 2015. In 2014, PayPal moved $228 billion in 26 currencies across more than 190 nations, generating a total revenue of $7.9 billion (44% of eBay’s total profits). The same year, eBay announced plans to spin-off PayPal into an independent company by mid-2015 and was complete on July 18, 2015.