Pay-Pal was founded in 1998. Pay-Pal is the leader in online payment systems, with 56 million Pay-Pal account holders worldwide.
E-Bay acquired Pay-Pal in October, 2002 for $1.5B dollars.
Pay-Pal is used in approximately one fourth of all e-Bay auctions.
Before the merger, eBay operated a competing online payment system known as Billpoint.
The merger of the worlds leading online auction house and the worlds leading online payment system created eBay Pay-Pal.