Online payments company Paypal has received a banking license in Luxembourg and will move its European operations there.
The move will enable the company, which is owned by eBay, to increase the number of online retailers offering its service. With 23 percent of European online shoppers favoring PayPal and 100,000 retailers using the service, only a small number of major retailers are using the service.
"Our goal is to give European consumers more places to shop securely and conveniently across the Web by making PayPal available on virtually every retail Web site in Europe," said Brent Bellm, vice president of PayPal in Europe.
PayPal has 35 million customers in Europe with 15 million in Britain, making it the region's biggest online shopper. Over half of Britain's population is online and more than half also have a PayPal account.
PayPal has continued to grow even with competition from Google who launched its Checkout service last year. PayPal has over 130 million users worldwide.
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Comments
And please add Latvia to the
And please add Latvia to the list of receiving countries! For years you are servicing doubtful countries and not Latvia which is the EU member from 2004!!!
100% agree!
100% agree!
Estonians want to use PayPal
Estonia is also in EU, so why aren't they expanding to Estonia? I would really love to accept PayPal payments on my websites since most of my customers aren't from Estonia and international bank transfers are rather expensive, but they don't allow that due to Estonia being too small market from them and the fact that Estonia is the most Internet banking friendly country in the world doesn't seem to matter at all. When will PayPal come to Estonia?
I would like to use PayPal
I would really love to use PayPal, but I cannot recive payments because I live in Estonia, so it is kind of useless.
Estonia!!!
But they still won't let Estonians receive payments, I am extremely dissatisfied!
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