PayPal provides the world's first instant and secure online payment service. With PayPal, individuals and businesses can send and receive payments through the Internet. This revolutionary new service provides a safer, faster, easier, and cheaper way to move money in today's digital economy.

With a customer base of more than 6 million and continuing to grow rapidly, PayPal is the world's largest Internet-based payment network. PayPal is the #1 eFinance site on the Internet, according to PC Data Online, and one of the fastest growing websites, according to Media Metrix. PayPal now constitutes over 10% of all Internet traffic in the financial services category, more than Citibank, Wells Fargo and Bank of America combined.

PayPal is the preferred payment service for online auctions, and for online community and group websites. Recommended by CNET as "the most reliable personal payment service," PayPal is also being increasingly used at e-commerce sites. PayPal's service, free to consumers, can be used from PCs or Web-enabled mobile phones.

Founded in December 1998 by Peter Thiel and Max Levchin, PayPal is a privately held company headquartered in Palo Alto, California. PayPal was recently named one of the 50 Most Important Private Companies in the World by Red Herring, one of the Top 25 New Companies by Fortune Small Business, and a Forbes Favorite Website in the magazine's latest "Best of the Web" issue.