PayPal allows any business or consumer with an email address to
securely, conveniently and cost-effectively send and receive payments
online. Our network builds on the existing financial infrastructure of
bank accounts and credit cards to create a global, real-time payment
solution. We deliver a product ideally suited for small businesses,
online merchants, individuals and others currently underserved by
traditional payment mechanisms.
The size of our network and
widening acceptance of our product have helped us become one of the
leading payment network for online auction websites, including eBay.
PayPal is also being increasingly used at other e-commerce sites for the
sale of goods such as electronics and household items, the sale of
services such as web design and travel, and the sale of digital content.
Offline businesses, including lawyers, contractors and physicians, have
increasingly begun to receive payments online through PayPal. PayPal's
service, which lets users send payments for free, can be used from PCs
or web-enabled mobile phones.
PayPal (Europe) S.à r.l. & Cie,
S.C.A is duly licenced as a Luxembourg credit institution in the sense
of Article 2 of the law of 5 April 1993 on the financial sector as
amended and is under the prudential supervision of the Luxembourg
supervisory authority, the Commission de Surveillance du Secteur
Financier, with registered office in L-1150 Luxembourg. Since the
service is limited to E-money, which does not qualify as a deposit or an
investment service in the sense of the Law, customers of PayPal are not
protected by the Luxembourg deposit guarantee schemes provided by the
Association pour la Garantie des Dépôts Luxembourg (AGDL).
PayPal
Inc. (which is a parent company of PayPal (Europe) S.à r.l. & Cie,
S.C.A) was acquired by eBay in October 2002, and is located in
California, USA.
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