Customers have many different ways to pay online. And that means there's a growing number of companies that can take away market share from PayPal (NASDAQ: PYPL), which over the years has been a top option for transferring money online.

One of PayPal's largest competitors may not be here yet, however. A looming risk investors need to be wary of comes from Elon Musk's X.com.

Musk helped make PayPal what it is today and is credited as one of its founders. While he's known for developing electric vehicles and rockets, he also has a background in finance and even interned at one of Canada's top banks in the '90s -- Bank of Nova Scotia.

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Source Fool.com