Comment on Why Is PayPal In the Credit Game?

Why Is PayPal In the Credit Game?

According to the Department of Commerce, Americans spent $80 billion on online retail during the first quarter of 2015. Paying for something on the Internet is commonplace now, but rewind back to the first official retail e-commerce report—it’s from the fourth quarter of 1999—that number was just $5 billion. A major innovator in 1999’s money-transfer landscape was PayPal, which started its money transfer service that year (Back then, websites looked like this.) Currently, PayPal reports that it has 165 million users around the world, and that it moved $46 billion in 2014.

 

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