Re:Paypal is evil
by graham-miln on Monday January 11, 2010 @12:35AM
(#1044434)
It is worth noting PayPal's activity is regulated within the EU:
"On May 15, 2007, PayPal announced that it would move its European operations from the UK to Luxembourg, commencing July 2, 2007 as PayPal (Europe) S.à r.l. & Cie, S.C.A.[33] This would be as a Luxembourg entity regulated as a bank by the Commission de Surveillance du Secteur Financier (CSSF), the Luxembourg equivalent of the FSA.[34] PayPal Luxembourg will then provide the PayPal service throughout the European Union (EU)." -- PayPal's Wikipedia page.
This status, within the EU, provides some protection for both businesses and customers.
"On May 15, 2007, PayPal announced that it would move its European operations from the UK to Luxembourg, commencing July 2, 2007 as PayPal (Europe) S.à r.l. & Cie, S.C.A.[33] This would be as a Luxembourg entity regulated as a bank by the Commission de Surveillance du Secteur Financier (CSSF), the Luxembourg equivalent of the FSA.[34] PayPal Luxembourg will then provide the PayPal service throughout the European Union (EU)." -- PayPal's Wikipedia page.
This status, within the EU, provides some protection for both businesses and customers.