Paypal: Time-line

One of the largest ecommerce facilitator with online-transfer of funds to holding amounts in the online accounts and further to helping millions of customers with shopping in the online stores, PayPal has revolutionised the e-commerce industry since its origin in December 1999. It has more than 218-million active account-holders. PayPal supports a hundred different currencies while receiving-payments and one can withdraw amount in about 56 various currencies. PayPal has its dedicated PayPal customer services to help with grievance redressal.

Quick peep into history

The mother company Confinity gave birth to PayPal with its money-transfer services wing being funded by John Malloy of the BlueRun Ventures in 1999. In the month of March of 2000, confinity was merged with x.com, an online-banking company founded by Elon Musk. Much later in October 2000 x.com was put on less focus track by Musk and he started putting more attention on the PayPal facility known as the money-service. The company x.com was renamed to PayPal in 2001. Paypal was made public in 2002 after a management decision. Soon after doing so, it had taken over eBay in 2002 for a sum of one and a half billion dollars

Timeline in a bird’s eye-view

From the time period of January 99 to March 2000, the company x.com and confinity stated developing financial products that would compete with each other. First financial product was released by Confinity in the year 1999, a time when it had started gaining attention. In March 2000 to July 2002, few major changes took place. X.com and Confinity were merged by Elon Musk to a combined-entity by the name X.com but owing to suggestions it was renamed to PayPal. In order to expand its online user base, it took eBay as a key-platform to facilitate eBay’s growing business and smoothen online transactions. eBay had its own payment-service known as the Billpoint. PayPal had a fierce competition with eBay’s BillPoint which lead to the need for raising huge amount of money and hence the company was made public in 2002 February. Over a period of approximately eight years, eBay was acquired by PayPal; hence the user-base grew steadily and even surpassed that of PayPal. In the next four years that is from half of year 2010 to last month of Q3 in 2014 PayPal advances aggressively into new spheres from micro-payments, store-payment and footholds into the mobile sector with mobile payments, it developed tools that could be used by medium and small businesses and this further lead to acquisition of a start-up known by the name of Braintree, a company that developed payment-gateways. Since September 2014, there had been an announcement of split of PayPal from eBay. The process was completed in the later months of the first half of 2015.

Help-lines

Having said all about this big company PayPal, the success was caused with the increasing faith entrusted by the users and the PayPal customer services played a crucial role in building this Trust Factor. Dedicated PayPal contact numbers to direct your grievances are 1-888-221-1161 and 1-866-528-3733. If you are calling from outside United Stated, use 1-402-935-2050.