Tech

The Story of PayPal from Past to Present

We examine how PayPal, which was a very popular payment method in our country for a while, came to these days and why we cannot use it in our country at the moment.

Many of us met PayPal while shopping online with our family’s cards, where we don’t even have a credit card. PayPal has been quite popular in our country for a long time. a popular payment method it happened. It has become indispensable for most people who do not use or do not want to use credit cards.

When we enter a shopping site, we choose PayPal as the payment method and without any trust issues It allowed us to make our payments. Well PayPal how it was foundedLet’s take a look at how he grew up and what he went through…

What is PayPal?

Paypal

Paypal, online without entering card information, you can use in your shopping, send and receive money payment system we can say. Moreover, all you need in this system is e-mail your address. So why were we deprived of these features? Let’s explore the story of the bank-hearted PayPal and more together…

Didn’t we sell our dreams?

Max Levchin He was a computer scientist and made many attempts during his university years. After a while he ran out of money. At the time, businessman and author giving a lecture at Stanford University Peter Thiel met with. Thinking he just met his man, Max tells Peter told his ideas and this idea that was on the minds of both of them in 1998. Launched as PayPal.

Almost at the same time as PayPal was launched. Elon Musk gives X.com He was the co-founder of the company. PayPal and X.com sort of were competing companies but that wouldn’t last long. Will Elon Musk stop as we know it? Doesn’t stop. PayPal and X.com to combine and to the CEO seat and he sat himself. Some in-house disagreements it happened, and while Elon Musk had just warmed up the seat Resigned as CEO. Peter Thiel temporarily Announced as CEO.

He walked and went…

In 2002, the PayPal company eBay 1.5 billion dollars Purchased. After becoming part of such a trading giant PayPal growth rate also increased.

When we come to 2006 in 10 new currencies started to serve. PayPal; The mobile application he launched, the agreements and partnerships he made with banks, when he was only 10 years old. to 150 million users reached.

PayPal and eBay decided to love each other from afar, ways in 2015 they separated. After this separation, eBay announced that it will continue to use PayPal as a payment method until 2023. Big-hearted eBay…

What happens to these coin jobs?

Of course, PayPal could not ignore the rise of cryptocurrencies while being constantly fed by its small and large investments. in 2020 cryptocurrency exchange China announced that PayPal is available.

Some undesirable things also happened…

PayPal for a long time with hackers and cybercriminal organizations he struggled. The company, which has been sued many times, is from fake accounts. money laundering, was accused of illegally restricting users from the platform. As a result, in some countries use is prohibited.

Everyone has it, why don’t we have PayPal?

One day we used PayPal for the last time and none of us were aware of it. From the PayPal site on May 30, 2016 by issuing a statement announced that it has ceased its activities in our country.

So what was the reason? Let’s say right away… The reason is that he made a statement to the Banking Regulation and Supervision Agency. denial of license application it happened. PayPal said in its statement to obtain the necessary permissions and to operate in our country again. will continue its work had stated. We hope that the days when we can use PayPal will return soon.