What is PAYPAL?

A company owned by eBay, whose primary function is to process online payments and transfer money from individuals and companies. It was set up in 1998, and accepts 18 currencies at present. The system is based solely over the internet. Funds can be withdrawn ot the bank account, or uploaded from the bank account too.

More On This Topic

Link to This Definition
Did you find this definition of PAYPAL helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary