Paypal was voted worse idea of 1999, Today they are the face of 4.9 Billion Payments

One of worse idea of 1990 is front end of digital payment industry processed 4.9 Billion Payments

Back when the PalmPilot was the future of mobile computers, Peter Thiel and Max Levchin had a few business plans that didn’t quite work out for them. Running out of money, they decided to provide a service for transmitting payments over PDAs. This idea, which later became known as PayPal, gained them investors and a decent amount of users but didn’t catch on.

PayPal

It was even voted one of the ten worst business ideas of 1999. After integrating their online payment system with a website called eBay, the company quickly gained popularity and took off. Ever since, PayPal has been at the forefront of the digital payments revolution, with 192 million active customer accounts and 4.9 billion payments processed in 2015.

source: CBSnews

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Written by Lauren Brien

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