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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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