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Online payments company PayPal is to become a bank as part of a push to beef up its European operation and fend off fierce new competition.
The eBay-owned electronic payment system is fighting off a challenge from Google, which launched a rival system last month.
PayPal said it was moving its headquarters to Luxembourg, where it has been awarded a banking licence. This means it will no longer be authorised by the Financial Services Authority, which has overseen PayPal since it became an Electronic Money Issuer in 2004.
PayPal has 35m customers in Europe, including 15m in Britain, which is the region's biggest online shopper. More than half of Britain's population is now online and more than half of British internet users have a PayPal account.
PayPal allows users to pay for goods and services online, without having to key in their card details for each purchase. The service also hides account details from retailers, for extra security.
Brent Bellm, head of PayPal's European operation, said the changes would allow the company to increase the number of online retailers offering the service. According to Forrester Research, 23pc of European internet shoppers prefer to pay with PayPal. More than 100,000 retailers offer PayPal but most are small. Only a handful of big retailers such as Boots and Harrods are signed up to PayPal.
Although Google is a threat to PayPal, the eBay subsidiary has continued to grow since the search engine launched its Checkout service last year in America. PayPal has more than 130m users worldwide.
Last month, eBay said a 27pc rise in first-quarter revenues to $1.77bn was boosted by a 51pc jump in payments through PayPal. The online auction house accounted for around 60pc of PayPal revenues but the other 40pc was growing faster, Mr Bellm said.

tripleh2783
Traffic Value: $156.93866 United States

8 like this post 1 people

10/02/2015 19:14

Everytime I think positive,there's a brand new problem.

Ladybird
Traffic Value: $4,392.68844 United Kingdom

1 like this post 0 people

10/02/2015 19:15

THE BANK OF PayPal

With new security steps and plans for a debit card, eBay's online payment service is taking on its finance rivals. In Europe, it's even got a banking license
Every few hours at the eBay Live! conference in Boston, the audio speakers explode with Kool & the Gang's song Celebration. For eBay's (EBAY) executives, it's a way of reminding everyone that, despite declining growth in its main shopping business, the company has reasons to party.
Reason No. 1? PayPal. If eBay Live! is a celebration, then eBay's online payment service is the guest of honor. PayPal's first-quarter revenue grew 31%, to $439 million, at a time when eBay's core shopping business grew just 23% and active buyers and sellers grew 10%. PayPal is proving that its success, while connected to the growth of eBay's shopping sites, is not solely dependent on it.
Top executives used their keynote speeches on June 14 to announce new PayPal security initiatives, including a service for eBay sellers that will alert them to potentially risky buyers. The company also announced an eBay site redesign intended to improve auction search results while making it easier to view product photos and details about the auction.
PayPal has designs on the greater e-commerce market, which is expected to top $300 billion in the U.S. alone by 2010, up more than 50% from current levels. Last year, PayPal processed about 6% of all online payments worldwide. And in the first quarter, roughly 40% of the $11.36 billion in payments that PayPal processed originated on sites other than eBay's shopping properties. "The off-eBay business will, at some point, eclipse the on-eBay business," says Scott Thompson, PayPal's chief technology officer.

srcnckr
Traffic Value: $2,545.40766 Turkey

0 like this post 1 people

10/02/2015 19:16

I heard 2 months ago that Paypal will restrict PTC sites in 2015. I am sorry to hear that became real. Paypal has always been a headache for me.

Ladybird
Traffic Value: $4,392.68844 United Kingdom

9 like this post 0 people

10/02/2015 19:16

Now Can We Have Some Ads Please

SKMDRONY
Traffic Value: $121.69303 Bangladesh

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10/02/2015 19:17

Paypal

chrystalia
Traffic Value: $496.56049 United States

5 like this post 0 people

10/02/2015 19:19

tripleh2783

Yep.

Like I said, I called Paypal directly on this, as I get paid by Clixsense weekly--and I also run all of my other payments through them.

They said this is utterly not true--there is NO INDICATION of any problems with Clixsense. Clixsense has used them for quite a while now, with no issues--probably because CS is US based, with a physical office and all.

At this point, I believe Paypal on the issue--the same "apparently" story went around when Probux got their PP account limited, you might remember.

I was MOST displeased to see it pop up here.

youtubeworld
Traffic Value: $4.31974 Morocco

0 like this post 3 people

10/02/2015 19:19

hey guys use the bitcoin is better for me !! i heat paypal

jagodinac123
Traffic Value: $390.26943 Serbia

1 like this post 0 people

10/02/2015 19:22

so...

who is giving us BS at the moment?

tripleh2783
Traffic Value: $156.93866 United States

0 like this post 0 people

10/02/2015 19:22

I know i'm gonna be bashed here for this,but could they be doing this to JO because of his past sites that went bellyup???? Maybe they see him as high risk? I'm not slamming him, just makes one wonder if it could be a reason,IF this is all fact and paypal is supposedly dropping the site.

sigma1980
Traffic Value: $208.67609 India

0 like this post 0 people

10/02/2015 19:23

Yan's fb account here

http://www.Facebook.com/yan.poukyx

crnavrtnica
Traffic Value: $178.11876 Slovenia

0 like this post 0 people

10/02/2015 19:23

only baps today?

martis
Traffic Value: $910.14287 Lithuania

6 like this post 1 people

10/02/2015 19:26

Smells bad, don't you guys feel it?

Dump the shares and panic

netbill00
Traffic Value: $283.54589 Greece

5 like this post 0 people

10/02/2015 19:28

Why paypal is always the reason for anything to stop working properly everytime? pffff...

Pucko1
Traffic Value: $37.20311 Sweden

7 like this post 0 people

10/02/2015 19:29

Why are there more and more problems coming up..?

tharude
Traffic Value: $1,126.85455 Bulgaria

1 like this post 0 people

10/02/2015 19:30

@Pucko1
Why not?

creshno
Traffic Value: $2,154.77891 Viet Nam

20 like this post 2 people

10/02/2015 19:31

Jo
to prevent members (and team, and you ofc) from any problems with e-currencies , i strictly ask you to leave it and start to create own MTV debit cards system.
1st - it will save HUGE money from fees.
2nd - no any problems such we can have like now or other times before.
3d- it's just so simple and comfortable for members. means more trust. more loyality. more .... happines here )))

in the future ofc i'd like there will be own bank system for MTV , to prevent it frob BANK's crazy ideas as they are the same thing like paypal or any e-currencies.

another way - creation of own MTV product - money transfer system. MTV team should firstly collect some data about members , like what places we have more users, and start creating offices there (country, cities) .
as a real, phisycal product - it will bring us more good thing instead of some problems.
and ofc it will be maybe the MOST comfortable for members after debit cards system.
because, i believe, it will be a HI END money transfer system without lots of FUCKING PAPER WORK that u have now, just on the start of your great idea -MTV business, and will use computers/gadgets etc.

i understand that it is ideas for a LONG future timeline. but it's how i see some ways of MTV will grow and in what it will turn

cheers
it's just my thoughts.

ps. i will put this post into a brainstorm section, maybe some1 have to say somth.

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