Luxembourg, 04 November 2010 – With immediate effect, PayPal and BillSAFE will be offering a joint online invoice payment solution to e-commerce customers. The partnership, which was established via a capital increase in BillSAFE by PayPal, is aimed to provide online retailers with an easy and future-proof option to offer invoice payment within their payment portfolio to their customers. Retailers now have the option to provide their consumers an invoice payment option with the known PayPal security level. "As an innovative company, whose greatest asset is security, PayPal is now looking to offer the online invoice payment option in order to raise even more trust in e-commerce," said Renier Lemmens, General Manager PayPal Europe. "We see the partnership as a joining of best-practices and know-how. With BillSAFE, we are clearly aiming for market leadership in online invoice payment. The customer can decide which way she or he would like to pay. And whichever way she or he choses, with PayPal they receive the service and the unique security that PayPal is known for" adds Lemmens.
“With the BillSAFE transaction, CFP once again demonstrates its high spectrum of specialized knowledge in the Internet sector. We are happy for our client that the strategic investor Paypal will accelerate the expansion of the innovative payment solution of BillSAFE” says Julian Riedlbauer, Managing Director of Corporate Finance Partners.
Corporate Finance Partners acted as the exclusive adviser to BillSAFE and its shareholders.
Founded in 2006, BillSAFE (www.billsafe.de) is a specialized factoring company for the processing of invoice based e-commerce payments. BillSAFE provides both the seller and the buyer complete security in the online payment processing with its online invoice payment solution. Sensitive account or credit card information are no longer required from customers for the online payment. At the same time, the seller receives full protection against default of payment.
PayPal is the faster, safer way to pay and get paid online. The service allows members to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing. With more than 90 million active accounts in 190 markets and 24 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay company and is made up of three leading online payment services: the PayPal global payment service, the Payflow Gateway and Bill Me Later.
More information about the company can be found at www.PayPal.com . PayPal is headquartered in San Jose, California and its international headquarters is located in Singapore.