| About PayPal |
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| PayPal lets any business or
consumer with an email address to securely, conveniently, and
cost-effectively send and receive payments online. Our network
builds on the existing financial infrastructure of bank accounts
and credit cards to create a global, real-time payment solution.
We deliver a product ideally suited for small businesses, online
merchants, individuals and others currently underserved by
traditional payment mechanisms. We seek to become the global standard for online payments, offering our service to users in 38 countries including the United States. We have over 25 million registered users, including more than 3 million business accounts. Our account base is growing by an average of 28,000 accounts per day, with virtually no traditional sales or marketing. The size of our network and widening acceptance of our product have helped us become the leading payment network 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 was recently acquired by eBay, and is located in Mountain View, California. PayPal is the 2002 SIIA Codie Awards winner for "Best eCommerce Solution" and is recognized by PC Magazine as one of "The Top 100 Web Sites." |