PayPal®

PayPal Patent Print "Payment System" Levchin et al, April 28, 2000. PayPal Holdings, Inc. is an American company operating a worldwide online payments system that supports online money transfers. PayPal is one of the world's largest Internet payment companies. PayPal was established in December 1998 as Confinity, a company that developed security software for handheld devices. It was founded by Max Levchin, Peter Thiel, Luke Nosek and Ken Howery. PayPal was developed and launched as a money transfer service at Confinity in 1999, funded by John Malloy from BlueRun Ventures. In March 2000, Confinity merged with X.com, an online banking company founded by Elon Musk. This patent titled 'System and Method for Electronically Exchanging Value Among Distributed Users' was filed on the 28th of April, 2000. The first named inventor is Max Levchin and the author describes this invention as a "a system and method for facilitating a value exchange transaction". In Founders at Work