Billpoint

From Wikipedia, the free encyclopedia

Billpoint was the name of a person-to-person money transfer service purchased by online auctioneer eBay in 1998. Billpoint's website was taken offline while eBay integrated Billpoint into their auction service, and it did not reappear until the Spring of 2000 when it was relaunched as a joint-venture with Wells Fargo bank.

During this interval, online payment service PayPal was launched, rapidly becoming popular with eBay's customers. Billpoint and eBay spent much of the next two years trying to overtake PayPal, but with little success. In July 2002, eBay CEO Meg Whitman agreed the acquisition of PayPal with its CEO Peter Thiel. When the deal was closed in October 2002, eBay began the process of phasing out Billpoint.

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