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Square, Dorsey's online payments system, is duking it out in the competitive, and potentially very rewarding, world of mobile money.
Thiel, 49, is a Stanford-trained lawyer who co-founded the online payments system PayPal in 1998.
To boost traffic through his websites, Mr Ma set up an online payments system, Alipay, in 2004.
Mr Musk made his fortune during the internet boom by selling PayPal, an online payments system, to eBay for $1.5 billion.
The once troubled online retailer has continued a successful turnaround and cultivated double-digit growth in PayPal, its online payments system.
The South African-born multi-millionaire's CV includes online payments system PayPal, electronic car manufacturer Tesla Motors, and Hyperloop – his proposal for a near-supersonic transport link between San Francisco and Los Angeles.
Similar(37)
The report makes clear recommendations for stimulating the Internet economy in Asia, urging governments there, for instance, to make regulatory changes to allow efficient online payments systems to develop.
And users were directed to pay $99 to Register Now, an online payment system in Issaquah, Wash.
Dorsey is already said to be worth $1bn, thanks mostly to his 25% stake in Square, an online payment system.
That was because no efficient online payment system existed for securely processing very small transactions at large volumes.
Instead, I paid for my fix instantly, using a new online payment system called PayPal, a free service from X.com.
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