PayPal Expands Payment Options With American Express

January 2, 2002



PALO ALTO, Calif., Jan. 2 /PRNewswire/ -- PayPal, Inc. (www.PayPal.com) announced today that it would team up with financial services giant American Express to expand payment options to millions of customers. By welcoming the American Express Card, PayPal users now have the opportunity to earn Membership Rewards® points while taking advantage of the security features associated with PayPal.

``Like PayPal, American Express is committed to making e-commerce safe and easy for its millions of Cardmembers worldwide,'' said Todd Pearson, Senior Vice President, Financial Services, PayPal. ``By partnering with American Express, PayPal users will now have an additional choice of payment for secure, online transactions.''

``As a pioneer in online payments, PayPal has developed an innovative solution that helps to safeguard customers' online transactions,'' said Tom Pojero, Vice President, Merchant Acquisition, American Express. ``American Express shares PayPal's commitment to providing a safe, reliable and convenient method for online sales and purchases.''

PayPal enables any business or consumer with email to send and receive online payments securely, conveniently and cost-effectively. PayPal's network builds on the existing financial infrastructure of bank accounts and credit cards to create a global payment solution. PayPal is a popular payment network for online auction websites and is being increasingly used at other e-commerce sites for the sale of goods, services, and digital content. PayPal members send more than $10 million per day in approximately 200,000 daily transactions.

PayPal

PayPal enables any business or consumer with an email address to securely, conveniently, and cost-effectively send and receive payments online. The online payments network builds on the existing financial infrastructure of bank accounts and credit cards to create a global payment system. PayPal offers its service to users in 37 countries including the United States. PayPal has more than 12 million registered users, including more than 2.1 million business accounts.
PayPal is a privately held company headquartered in Palo Alto, California. PayPal was a Webby Award nominee in both 2000 and 2001, and was named a Forbes Favorite Website in the magazine's May 2001 ``Best of the Web'' issue.

American Express

American Express Company is a diversified worldwide travel and financial services company founded in 1850. It is a leader in charge and credit cards, Travelers Cheques, travel, investment products, insurance and international and online banking. For more information on American Express, visit our Web site at www.americanexpress.com.



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