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elgato Location: TEXAS Total posts: 10300
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After receiving a bank license in the European Union, PayPal said it has no plans to offer new products at this time. PayPal spokesperson Amanda Pires said customers will see no change in how they use their PayPal accounts. "It's business as usual for PayPal in Europe," she said. Pires said the license will allow them to market freely to Internet retailers in the European Union, however.
PayPal announced it had received the bank charter by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg, effective July 2, 2007, and said it would move its European headquarters to Luxembourg, which is also the location of eBay's EU headquarters (http://www.auctionbytes.com/cab/abn/y07/m05/i15/s00).
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