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September 29, 2006 | From the Associated Press
Online-payment service PayPal will simplify its user agreement and better inform users about fraud protection under an agreement announced Thursday with 28 state attorneys general. PayPal said it already had removed links from its user agreement to make the document easier for people to read and print.
September 14, 2004 | From Associated Press
PayPal Inc. said Monday that it would start fining customers as much as $500 for using the online payment service on gambling, pornography and illegal sales of prescription drugs. Those payments are already prohibited under PayPal's acceptable-use policy, but Sept. 24 will mark the first time the EBay Inc.-owned company will fine customers for violations. PayPal also said it could take legal action to recoup any costs not covered by fines.
March 16, 2004 | From Bloomberg News
PayPal, the e-mail payment service owned by EBay Inc., said users may receive fraudulent e-mails after the company discovered that hackers took customer names and e-mail addresses from its website. The hackers probably used deceptive e-mails to trick merchants that sell products on EBay into giving them their PayPal passwords, EBay said. Hackers used the passwords to gain access to Mountain View, Calif.-based PayPal's website and look at nonfinancial information about customers.
June 29, 2004 | From Bloomberg News
EBay Inc., the world's largest Internet auction company, plans to expand its PayPal payment service to the rest of the company's international markets, Chief Executive Meg Whitman said Monday. "The long-term vision is to have PayPal follow the EBay footprint around the world," Whitman said. PayPal lets people close transactions on EBay faster through electronic accounts from which payments can be made or received. EBay bought PayPal for $1.
February 1, 2006 | From Reuters
EBay Inc., the online auction house, will start collecting a fee to manage money deposited in its PayPal Money Market Fund, the San Jose-based company said. PayPal, an electronic payment service with some 87 million customers in more than 40 countries, sweeps funds that customers keep in their accounts into the money market fund. The company pays a seven-day average yield of 4.38% on money in those accounts.
April 1, 2003 | Alex Pham, Times Staff Writer
A federal prosecutor has accused EBay Inc.'s PayPal subsidiary of violating the law when it facilitated online gambling payments last year, according to EBay documents filed Monday with the Securities and Exchange Commission. In a letter sent to the San Jose online auction firm Friday, U.S. Atty. Ray Gruender of St. Louis argued that PayPal violated a 17-month-old federal anti-terrorism law when it handled payments for online casinos.
June 22, 2005 | From Associated Press
Google Inc.'s chief executive Tuesday denied reports that the online search engine leader was gearing up to compete directly with EBay Inc.'s pioneering PayPal service, but acknowledged some kind of electronic payment product was in the works. Eric Schmidt did not give details about the project but said it wouldn't trespass on PayPal's turf. "We do not intend to offer a person-to-person, stored-value payments system," Schmidt said.
July 18, 2012 | By Michelle Maltais
PayPal recently made a significant digital purchase of its own. The mobile-payment service provider, which is owned by eBay, acquired, a San Francisco start-up that enables users to use a smartphone camera to scan in their credit card information, according to a company blog post on Tuesday. The two companies first connected while working on integrating the technology into the PayPal Here app, according to the PayPal blog post . "While working with them, we were simply blown away by the creativity and drive of their employees," wrote Hill Ferguson, PayPal vice president of global product.
August 22, 2012 | By Tiffany Hsu
Starting next year, PayPal users will be able to use their online payment accounts to shop in more than 7 million physical stores nationwide, because of a new partnership between owner Ebay Inc. and credit card company Discover Financial Services. PayPal will begin issuing cards in the second quarter of 2013 that are hooked into the accounts of the service's more than 50 million active users. Customers can then make purchases from merchants connected to Discover's network, using PayPal as they would cash, checks and credit cards.
April 9, 2012 | By Jessica Guynn
As Facebook shoots toward a $100-billion initial public stock offering, the race is already on to find the next Facebook. And the smart money in Silicon Valley is betting one group has the inside track: Facebook's early employees. While building the world's largest social network, they built a social network of their own. Now that they have parted company with Facebook to seek their own fortunes, they have a competitive edge: each other. These ambitious young entrepreneurs call on one another for money and advice, sit on each other's boards and hook up to celebrate birthdays and weddings.
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