Through its web and mobile app payment services, PayPal Holdings Inc. (PYPL) is a leading player in digital payments. It has held its ground against a growing number of financial startups and tech behemoths like Apple Inc. (AAPL) and Alphabet Inc. (GOOG). The company offers 305 million account holders throughout the world a variety of digital payment services that allow customers to send and receive money, maintain balances, withdraw monies, and complete other tasks.
Confinity Inc., a startup, created PayPal in 1999 as a money-transfer service. Confinity joined with Elon Musk’s online banking site X.com in 2000, and the company went public in 2002 under the name PayPal. PayPal was quickly bought out by eBay Inc. (EBAY) for an estimated $1.5 billion, and it remained a part of the corporation for the next 13 years before being split off in 2015. PayPal made $17.8 billion in revenue in 2019 on a total payment volume of $712 billion. It is worth roughly $209 billion on the open market.
Companies owned by PayPal:
I know that this is bothering you too as well that What Companies Does PayPal Own?
| Company | Industry |
|---|---|
| Honey Science Corp. | Discounting Service |
| iZettle | Credit Card Payment Service |
| Braintree | Mobile Payment |
| Xoom Corp | International Payment Transfer |
| HyperWallet System Inc. | Payment Transfer Service |
| Venmo | Payment Transfer Service |
| Simility | Payment Transfer Service |
| Modest | Online Payment Transfer |
| Swift Financial | OnlinePayment Transfer |
Top 5 Companies owned by PayPal:
1. Honey Science Corp.
Honey is an online coupon and discounting service that offers a browser extension program that applies coupons to e-commerce sites automatically. Honey, which was founded in 2012, today has over 17 million users and has saved them over $1 billion since its inception. Honey was PayPal’s largest acquisition to date, costing almost $4 billion. The acquisition serves two purposes: it streamlines PayPal customers’ online purchasing and payment experiences, and it helps merchants increase consumer engagement and sales.
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2. iZettle
iZettle, a mobile credit card payment service located in Sweden, was created in 2010. It also had the world’s first small chip card reader. Over time, the company has expanded to provide a wide range of services to small businesses in Europe and Latin America, including software support and finance options. iZettle is a significant competitor of Square Inc., a PayPal competitor.
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3. Braintree
In 2013, PayPal parent eBay paid $800 million in real money for Chicago-based Braintree, permitting PayPal to turn into a worldwide all-in-one resource for shipper account administrations and installment handling. Braintree, an installments passage that works with and computerizes online installments for dealers and online organizations, was established in 2007 and presently serves 45 nations and 130 monetary forms.
4. Xoom Corporation
Xoom is an international payment processing company that allows users to send money, pay bills, recharge phones, and perform other chores for friends and family in different countries. It was founded in 2001. Xoom had more than 1.3 million active U.S. clients who used its platform to send $7 billion in overseas remittances at the time of the purchase.
5. Hyperwallet Systems Inc.
Hyperwallet was formed in 2000 as a global payouts company that enables small businesses to deliver funds to payees in a simple manner. Hyperwallet’s one-of-a-kind platform enables businesses to send and receive payments in any currency to almost any place on the planet.PayPal’s acquisition of Hyperwallet is a significant step forward in the company’s efforts to streamline and improve its e-commerce platform offerings.
FAQ’S
Is PayPal the owner of the Cash app?
No, Square Inc. owns Cash App, a peer-to-peer (P2P) payment service.
What bank does PayPal belong to?
Synchrony Bank offers PayPal Credit, which is subject to credit approval.
Is PayPal affiliated with Wells Fargo?
Wells Fargo & Company (NYSE: WFC) announced today that Wells Fargo customers will soon be able to make transactions using their mobile devices using PayPal (NASDAQ: PYPL).
Is Venmo owned by PayPal?
Venmo is part of PayPal’s bigger family of brands and is owned by PayPal.
