PayPal is founded, although its original name is Confinity.
PayPal first appears as a way for people to send payments through email.
PayPal becomes a popular way for online sellers to accept payment for items sold on eBay, the online auction site, and rapidly grows to more than one million accounts. Up to this point, most payments for items on the marketplace were made by checks and money orders sent through the regular U.S. mail.
PayPal joins the eBay family and becomes the site’s official payments provider, enabling sellers to offer it more easily and prominently… Continue reading about PayPal here.