PayPal is an e-commerce business allowing payments

PayPal is an e-commerce business allowing payments and money transfers to be made through the Internet. PayPal serves as an electronic alternative to traditional paper methods such as cheques and money orders. PayPal performs payment processing for online vendors, auction sites, and other commercial users, for which it charges a fee. It sometimes also charges a transaction fee for receiving money (a percentage of the amount sent plus an additional fixed amount). The fees charged 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^{[citation needed]}. On October 3, 2002, PayPal became a wholly owned subsidiary of eBay.^[1] Its corporate headquarters are in San Jose, California, United States at eBay's North First Street satellite office campus. The company also has significant operations in Omaha, Nebraska, Scottsdale, Arizona; and Austin, Texas in the U.S.; India; Dublin, Ireland; and Berlin, Germany,and now also in Tel-Aviv, Israel after PayPal acquired an Israeli startup called FraudSciences [1] for $169 million.^[2] As of July 2007, across Europe, PayPal also operates as a Luxembourg-based bank.