Subscribe for news updates every 10 minutes. Like/Dislike, Favorite, Comment, Embed on Blog, Facebook Share, and Tweet this video. Get the word out on this video. Get an email once a day tinyurl.com Like on Facebook to get updates tinyurl.com Follow on Twitter to get updates tinyurl.com - Friday May 27 2011 2:16 pm en.wikipedia.org PayPal is an e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to traditional paper methods such as cheques and money orders. A PayPal account can be funded with an electronic debit from a bank account or by a credit card. The recipient of a PayPal transfer can either request a cheque from PayPal, establish their own PayPal deposit account or request a transfer to their bank account. PayPal performs payment processing for online vendors, auction sites, and other commercial users, for which it charges a fee. It may also charge a fee for receiving money, proportional to the amount received. The fees depend on the currency used, the payment option used, the country of the sender, the country of the recipient, the amount sent and the recipient's account type. In addition, eBay purchases made by credit card through PayPal may incur extra fees if the buyer and seller use different currencies. On October 3, 2002, PayPal became a wholly owned subsidiary of eBay. Its corporate headquarters are in San Jose, California, United States at eBay's North First ...