Paypal Fact Sheet

Overview
Founded in December 1998, PayPal is a leading global online payment company, headquartered in Mountain View, California.
PayPal has 31.1 million registered accounts and is available in 38 countries.
It supports payments in U.S. Dollars, Canadian Dollars, Euros, Pounds Sterling and Japanese Yen making cross border trade easier.
PayPal lets any business or consumer with an email address 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 the safest way to pay online and maintains one of the lowest fraud rates in the online retail industry – less than half of 1%.
PayPal was acquired by eBay in October 2002 and is listed on 88% of eBay listings.
PayPal has received close to 20 awards for excellence from the technology industry and the community at large -- most recently the Webby Awards for Best Financial Site and the People’s Voice Award for Best Financial Site.

How does PayPal work?
PayPal serves as an “online wallet” for members, making the transaction process easy and convenient, and creating a safe trading environment.
Members are required to have an email address and a credit card to create an account with PayPal. The account is connected to the member’s bank account or credit card. Members can use their PayPal account to make and receive payments for online transactions. They can also store money in their PayPal account for future transactions.

Benefits for buyers:

Privacy of personal information.
Protection programs.
Enables quicker delivery of product.
Benefits for sellers:
Transaction process is cost-effective, easy and convenient.
Sellers are paid instantly with PayPal.
PayPal offers 100% seller protection on qualified transactions.
PayPal offers three types of accounts – personal, business and premier and has been exceptionally successful in enabling e-commerce for small businesses.
PayPal is also being increasingly used at other e-commerce sites for sale of goods and services.

Financial [brPayPal revenues for Q2 -’03 were $101.5 million. PayPal’s international business was 21% of revenues in Q2 -’03.
PayPal’s total payment volume in Q2-’03 was $2.8 billion
PayPal processes $360 in transactions every second.

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