PayPal Holdings, Inc. is a multinational financial technology company that operates an online payment system in most countries supporting online money transfers. It acts as a payment processor for online vendors, auction sites, and other commercial users. Founded in December 1998 as Confinity by Max Levchin, Peter Thiel, and Luke Nosek, the company initially focused on security software for handheld devices before shifting to digital payments. In March 2000, Confinity merged with X.com, an online bank founded by Elon Musk. PayPal went public in 2002 and was acquired by eBay later that year. In 2015, PayPal was spun off from eBay and became an independent company again.
Recent news indicates a leadership transition, with Enrique Lores appointed as the new CEO, replacing Alex Chriss effective March 1, 2026. The company is facing challenges, including slower growth in branded checkout and increased competition. PayPal is also venturing into new areas, such as AI-powered travel booking experiences through partnerships with Sabre and Mindtrip. Despite these challenges, PayPal remains a major player in the fintech industry, with a market capitalization around $38.16 billion as of November 2025. It has 434 million active accounts as of the end of 2024 and its platform enables users to send and receive payments in approximately 200 markets and in approximately 100 currencies. Some of PayPal's notable products and services include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Zettle.