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Early history. The company was originally established by Max Levchin, Peter Thiel, and Luke Nosek in December 1998 as Fieldlink, later renamed Confinity, a company that developed security software for hand-held devices. Having had no success with that business model, however, it switched its focus to a digital wallet. The first version of the …

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PayPal UK Ltd is authorised and regulated by the Financial Conduct Authority (FCA) as an electronic money institution under the Electronic Money Regulations 2011 for the issuance of electronic money (firm reference number 994790), in relation to its regulated consumer credit activities under the Financial Services and Markets Act 2000 (firm reference number 996405) and for the provision of ...

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