PayPal

A subsidiary of Ebay Inc., PayPal leads the e-commerce world with its network to allow any consumer and business to send and receive payments. People can also make remote payments to other accounts across the world, while more recently it is pushing through into the physical retail space, as well as extending its service for mobile use. In April 2006, the company launched Pal Mobile, a text message-based service allowing consumers in the US and Canada to send money anytime, from anywhere, using their mobiles. Last year the company launched a new peer to peer payments service which allows Android users to make payments between each other using NFC equipped mobile devices. The company was founded in 1998 by Peter Thiel and Max Levchin; it was acquired by eBay in October 2002. Its online payment network is world-recognised, and with clients such as Adidas, Universal Music, and Spotify, PayPal's portfolio is wide-reaching and dominating.