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(1) Past tense of transitive verb "to paypal", i.e., to make a secure online transaction through [electronic] payment service Paypal. (2) An excited utterance to proclaim on a music-obsessed web [message board] such as TermBo that you have already purchased a very recently announced new record, cassette, or other limited-availability [merchandise] item. This may be perceived by the poster to earn cred points especially if they reply "paypal'd!" within mere minutes of the original announcement being posted by the merchandiser.
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