The process of receiving payments over the Internet has steadily improved over the years. The people behind PayPal started the revolution in 1998 — later selling to eBay in 2002. A year after that, I co-founded TypeFrag, where we used a very popular payment processor called Chase Paymentech to handle our transactions before adding PayPal as an option four months later. Chase Paymentech is still popular, but it’s not viewed as cutting-edge by the current tech startup crowd. To say our billing flexibility with Chase Paymentech was limited back in 2003 when TypeFrag was founded would be an understatement.
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