PayPal Moves To Luxembourg and Becomes A Licensed Bank?
It sounds strange but the Telegraph is reporting that PayPal has been granted a banking license in Luxembourg and is moving their headquarters to the tiny country. Back in 2004, PayPal became a licensed Electronic Money Issuer and had operated under the FSA. In March of this year, Google was also granted this same FSA license in the UK. The move to Luxembourg means PayPal will no longer be authorized by the Financial Services Authority.
eBay who owns PayPal has been fighting back new competition for those retail online dollars. In recent months Google Checkout, nicknamed ‘The PayPal Killer’ has gained in popularity with retail merchants around the globe.
However in places like the UK, PayPal is still on top of Internet commerce. In Britain, more than half of the population is now online and half of that group uses PayPal. Throughout Europe and the UK, PayPal has captured over 50 million users so I suppose the move into banking was just a matter of time.
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9 opinions for PayPal Moves To Luxembourg and Becomes A Licensed Bank?
Paypal Moves to Luxembourg and Becomes a Licensed Bank at No Bullshit HYIP Blog, A Part of No Bullshit Network
May 15, 2007 at 10:11 pm
[…] Interesting. Read more about this on our blogmaster ePanama’s publication DigitalMoneyWorld here. […]
NoPonzi Blog » News from Paypal & Google
May 15, 2007 at 10:42 pm
[…] Paypal moves to Luxembourg and becomes a licensed bank? […]
Listpays.com HYIP Monitor » Paypal Moves to Luxembourg and Becomes a Licensed Bank
May 15, 2007 at 11:21 pm
[…] Interesting. Read more about this on our blogmaster ePanama’s publication DigitalMoneyWorld here. […]
The HYIP Blog » Blog Archive » Paypal Moves to Luxembourg and Becomes a Licensed Bank
May 16, 2007 at 12:17 am
[…] Interesting. Read more about this on our blogmaster ePanama’s publication DigitalMoneyWorld here. […]
Why is PayPal not considered a digital currency? - GoldAge Forums
May 16, 2007 at 8:27 am
[…] here paypal moves to Luxemburg and become a licensed bank ? […]
Paypal diventa una banca lussemburghese » 2007,ebay,internet,paypal » Blogging humanum est, tuttlog Tassoman ovest. » Il tuttlog di Tassoman
May 26, 2007 at 12:30 am
[…] notizia era già nell’aria da alcune settimane, ma è diventata realtà grazie alla comunicazione scritta inviata ai propri […]
Magic 3000.....Paypal has a banking license and updates | rubriche
May 26, 2007 at 6:16 am
[…] from DigitialMoney World It sounds strange but the Telegraph is reporting that PayPal has been granted a banking license […]
Blondmark
Aug 1, 2007 at 2:37 pm
What a scam! Paypal moving from its Richmond Surrey headquarters to Luxembourg and severing all its UK ties. This means its UK customers can no longer serve proceedings on them when Paypal steal money from their accounts.
How do I know? Because Paypal recently stole hundreds of pounds from my account, and when I contacted them to issue proceedings, they informed me that they no longer have any UK address to serve proceedings at, or a UK firm of solicitors authorised to accept proceedings. Instead, they told me, I should get in touch with their Luxembourg office.
A brilliant scam shielding Paypal from legal action from any of their UK victims!
So if you live in the UK and Paypal steal money from your account too, you will have no legal redress whatsoever.
Paypal Moves to Luxembourg and Becomes a Licensed Bank » Earn Money Internet
Jul 13, 2008 at 7:00 am
[…] Paypal Moves to Luxembourg and Becomes a Licensed Bank Interesting. Read more about this on our blogmaster ePanama’s publication DigitalMoneyWorld here. […]
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