In October of that year, Musk decided that X.com would terminate its other internet banking operations and focus on PayPal. Musk and Bill Harris, then-president and CEO of X.com, disagreed about the potential future success of the money transfer business and Harris left the company in May 2000. Musk was optimistic about the future success of the money transfer business Confinity was developing. In March 2000, Confinity merged with x.com, an online financial services company founded in March 1999 by Elon Musk. The first version of the PayPal electronic payments system was launched in 1999. It had no success with that business model, however, it switched its focus to a digital wallet. PayPal was originally established by Peter Thiel, Luke Nosek and Max Levchin, in December 1998 as Confinity, a company that developed security software for hand held devices. Further information: Timeline of PayPal Early history
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