Auctionbytes-NewsFlash, Number 1539 - May 16, 2007 - ISSN 1539-5065
Previous Story |
| Next Story
PayPal Free to Market to European Retailers
By Ina Steiner
AuctionBytes.com
PayPal announced it had received the bank charter by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg, effective July 2, 2007, and said it would move its European headquarters to Luxembourg, which is also the location of eBay's EU headquarters (http://www.auctionbytes.com/cab/abn/y07/m05/i15/s00 ).
Currently PayPal has an Electronic Money License through the Financial Services Authority in the UK, and is limited in how it can market to online retailers. PayPal currently has 35 million accounts in Europe.
"The bank license allows us to do more direct sales and marketing of our merchant service products to Internet retailers," Pires said.
The company has no plans to look for banking licenses in other countries, according to Pires.
Link to Podcast interview with PayPal Director of Corporate Communications on podcast.auctionbytes.com: http://tinyurl.com/27sxz5
Email this story to a friend. Previous Story |
| Next Story
Related Stories
eBay Limits Buyer Protection to PayPal-Funded Transactions - January 10, 2007, Issue #1449
Former PayPal Exec to Create Family Tree for the World - January 17, 2007, Issue #1454
Google Checkout and PayPal Continue Shopping-Rebate Wars - February 09, 2007, Issue #1471
PayPal Announces Nearly 35 Million Accounts in Europe - March 22, 2007, Issue #1500
PayPal Confirms Test of 'Mobile Checkout' Payment Solution - March 26, 2007, Issue #1502
eBay's Skype Introduces PayPal-Enabled 'Send Money' Feature - March 29, 2007, Issue #1505
Antitrust Lawsuit Filed against eBay over PayPal, Payments Policies - April 06, 2007, Issue #1511
eBay's PayPal Battles Google Checkout with Help of Yahoo - April 18, 2007, Issue #1519
eBay Announces New Buyer Protection Programs on UK, Australia Sites - May 09, 2007, Issue #1534
PayPal Expands to 190 Markets Worldwide, Adds Languages - May 10, 2007, Issue #1535
eBay's PayPal Service Gets Banking Charter in European Union - May 15, 2007, Issue #1538
PayPal Promotes Express Checkout with New Partner Program - May 18, 2007, Issue #1541
PayPal Outage Disrupts eBay, Online Sellers Friday - June 01, 2007, Issue #1551
eBay's PayPal Service to Roll out 'Advanced Risk Predictors' - June 13, 2007, Issue #1559
PayPal to Upgrade Its Data Center - June 13, 2007, Issue #1559
PayPal Launches Payment Review for Riskiest Transactions - June 16, 2007, Issue #1563
PayPal Launches Payment Review for Riskiest Transactions - June 16, 2007, Issue #1562
eBay Testing New Design of PayPal Home Page - June 27, 2007, Issue #1570
Northwest First Airline to Accept PayPal Payments - July 02, 2007, Issue #1573
eBay to Display PayPal Financing Option on Eligible Listings - July 06, 2007, Issue #1577
PayPal Officially Launches Mobile Checkout - July 16, 2007, Issue #7
eBay's PayPal Hires Senior Director of Strategy - July 18, 2007, Issue #7
eBay's PayPal Raises Rates for Payment-Processing Services - July 20, 2007, Issue #1582
PayPal Loosens Terms of Developer Facebook Contest - July 27, 2007, Issue #1587
PayPal Wants Shoppers to 'Pay Later,' May Offer New Service on eBay - August 02, 2007, Issue #1591
eBay Requires PayPal in 3 UK Categories 'To Reduce Fraud' - August 13, 2007, Issue #1598
PayPal Partners with TheFind.com on Back-to-School Shopping - August 22, 2007, Issue #1605
Glitch at eBay's PayPal Service Halts Subscription Payments - September 03, 2007, Issue #1613
PayPal Auctions off Old Logo - September 06, 2007, Issue #1616
PayPal Awards $10K Prizes to Developers for Facebook Apps - September 28, 2007, Issue #1631
New PayPal Capability Is Good News for International Online Sellers - October 01, 2007, Issue #1632
Risky Business - PayPal Launches Early-Warning System - October 12, 2007, Issue #1641
PayPal UK Signs Agreement with Royal Bank of Scotland's Worldpay - October 15, 2007, Issue #1642
PayPal Adds US Airways to Roster of Airlines Accepting Its Payment Service - October 17, 2007, Issue #1644
PayPal Opens Austin Technology Center - October 22, 2007, Issue #1647
PayPal Adds Timestamp to Indicate Last Time Updated - October 23, 2007, Issue #1648
Maker of RuneScape Hires CEO of PayPal Europe - October 24, 2007, Issue #1649
PayPal Wants You to Bid on eBay Mobile - October 26, 2007, Issue #1651
PayPal Announces 2007 Holiday Promotions - November 08, 2007, Issue #1660
Overstock.com Lets Customers Pay with eBay's PayPal Service - November 23, 2007, Issue #1670
eBay's PayPal Goes 'Priceless' with Plug-In for Mastercard - November 23, 2007, Issue #1670
PayPal Launches Widget for Bloggers, Social Networkers - December 05, 2007, Issue #1678
eBay's PayPal Subsidiary Creates Four New Executive Positions - December 14, 2007, Issue #1685
eBay UK Requires PayPal (for Certain Categories) - December 24, 2007, Issue #1691
PayPal Updates User Agreement Effective January 25, 2008 - December 31, 2007, Issue #1695
Discuss this story in our forums.
After receiving a bank license in the European Union, PayPal said it has no plans to offer new products at this time. PayPal spokesperson Amanda Pires said customers will see no change in how they use their PayPal accounts. "It's business as usual for PayPal in Europe," she said. Pires said the license will allow them to market freely to Internet retailers in the European Union, however.
