Launched in 1998 as Continuity by Ken Howery, Luke Nosek, Max Levchin, Peter Thiel and Elon Musk, Paypal is an online payments system that works as an electronic alternative to conventional transaction methods like money orders and checks. Over the years, the company has operated worldwide as a payment processor for commercial users including online vendors and auction platforms, who benefit from one-click transactions, and seller protection in exchange for a nominal fee. After PayPal’s IPO was listed at...