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Skype Offers PayPal Payment Option in Skype Store
25 May, 2005
(Luxembourg and London - May 25, 2005) - PayPal, a leading online payment service, has been added as a payment option for customers of Skype, the Global Internet Telephony Company™.
PayPal offers a secure online payments environment for users purchasing subscriptions to Skype's pre-paid premium services at the Skype Store at www.skype.com. PayPal acts as an online wallet giving buyers the flexibility to select how they want to pay for their purchase - via credit cards, banking accounts or stored balance. Skype has added PayPal as an additional payment mechanism following an extensive review of the market and a beta trial of PayPal amongst Skype customers.
"Skype is committed to expanding payment methods to ensure smooth and consumer-friendly transactions, and we are pleased to offer our customers PayPal as an additional secure payment option," said Niklas Zennström, Skype CEO and co-founder. "Skype provides reliable, easy-to-use services and during beta testing PayPal proved itself as an effective and popular means of payment; we expect offering a PayPal option will help drive Skype Store transactions."
PayPal enables customers to make payments directly from a bank account, with no credit card transaction required. PayPal also provides enhanced customer protection and fraud prevention systems for Skype customers making payments on the Internet.
"With nearly 72 million accounts worldwide, PayPal is a proven online payment method for online shoppers," commented Geoff Iddison, chief executive of PayPal Europe. "The partnership with Skype brings PayPal a global opportunity to expand our user base. PayPal enables Skype users to pay for the Skype services in a seamless and secure way. We look forward to sharing the convenience and security of the PayPal system with Skype users."
Skype is the leading VOIP-category product worldwide, with more than 40 million registered users. Skype's pre-paid premium services provide an inexpensive way to maintain easy connectivity with ordinary fixed and mobile phones worldwide.
About Skype Technologies S.A.:
Skype, the Global Internet Telephony Company™, allows people everywhere to make free, unlimited, superior quality voice calls via its award-winning innovative peer-to-peer software for Windows, Linux, Mac OS X, and Pocket PC platforms. Skype is available in 22 languages and is the fastest growing voice communications offering worldwide. Since its launch in August 2003, Skype has been downloaded more than 114 million times. Skype Technologies S.A. is headquartered in Luxembourg and is growing its offices in London and Tallinn. Skype Technologies is privately held and backed by top tier international venture capital firms, including Bessemer Venture Partners, Draper Fisher Jurvetson, Index Ventures, and Mangrove Capital Partners.
www.skype.com
About PayPal (Europe) Ltd
PayPal (Europe) Ltd. is a UK-based company, regulated by the FSA. It is a subsidiary of PayPal (International) Ltd., which is based in Dublin and is in turn a subsidiary of PayPal Inc. of San Jose, California.
In December 2004, the company extended its PayPal Buyer Protection service to cover buyers for purchases up to £500 on qualified listings on eBay.co.uk. This doubled the compensation previously available under the programme. PayPal Buyer Protection is free to buyers and sellers and if eligible protects buyers from goods bought on eBay which are either not delivered or delivered but are "significantly not as described".
How PayPal works
PayPal is a service that enables anyone with an e-mail address to make payments online - whether personal or business - within a secure online environment. Like an "online wallet", PayPal users can send money in many different ways - via an existing PayPal balance, a credit card, debit card or bank account. And when buyers send a payment to a merchant, PayPal simply sends the money and never divulges credit card or bank account details to the merchant or seller. For people selling goods, PayPal is a convenient and cost-effective way to accept credit and debit card funded payments online without the need for a credit card merchant account.
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