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 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 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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