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What is PayPal?






What is PayPal?



 PayPal is designed to allow any business or consumer with an email address to securely, conveniently and cost-effectively send and receive payments online. 
The PayPal network builds on the existing financial infrastructure of bank accounts and credit cards to create a global, real-time payment solution. PayPal is one of the leading payment networks 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 licensed 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 inCalifornia, USA.

(This information is correct at the time of writing. Please check www.PayPal.com for the latest information. The Musical Exchanges Group Ltd takes no responsibility or liability in any way for any adverse consequences you may suffer as a result of the content on this page). 




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