PayPal, the world leader in on-line payments, and BNP Paribas Personal Finance, the leading provider of credit to individuals in Europe, have announced the formation of a strategic European partnership for financing on-line purchases. PayPal has integrated the Cetelem Aurore card into its offering of payment methods in France, Italy and Spain. The two partners have also embarked on discussions that could lead to the launch by 2009 of an innovatory offer of on-line payment under the PayPal trade mark.

PayPal offers its customers, purchasers and traders a wide variety of sources of supply for their on-line payments that are adapted to suit the various European markets: balancing the PayPal account, bank cards, bank accounts, prepaid cards, etc. It is continuing that strategy with the permanent aim of adapting itself to new methods of consumption, and has decided to join with BNP Paribas Personal Finance in the context of financing on-line purchases.

"More and more European consumers are buying on line and using different methods of payment according to the type of purchase they make and the consumption habits of their countries, while on-line traders are seeking efficient and innovatory payment methods that will enable them to increase their sales. With the financial flexibility they offer, these on-line financing methods form a growing share of the new consumption methods PayPal will have to support", says Alexandre Hoffmann, PayPal's managing director of financial products and European partnerships. He adds "In that context, through its Cetelem brand, BNP Paribas Personal Finance is bringing us its vast experience of on-line financing and its considerable European coverage, which have been fundamental in our discussions".

"With its Cetelem brand, BNP Paribas Personal Finance is the leader in Internet credit, and more than 20% of its revenues, excluding points of sale, are made on line. The partnership's first objective is to manage 5 billion euros' worth of liabilities generated via the Internet channel by 2010 (compared with 2 billion at the end of 2007). A key factor in its past success was its support of on-line traders who now want to offer their customers a complete range of payment methods. In that context, PayPal and BNP Paribas Personal Finance have all the advantages necessary to develop the most innovatory financing offers and make them available to web-users", says Virginie Fauvel, Internet director of BNP Paribas Personal Finance.

PayPal has now integrated Cetelem Aurore cards into its offer of payment methods. Thus, from now on, the 12 million Aurore cardholders in France, Italy and Spain will be able to pay by PayPal more easily and securely with the credit facilities of their Aurore card on eBay and more than 200,000 websites throughout the world, 130,000 of them in Europe.

The two partners have also embarked on discussions that could lead to the launch of a purchase financing offer under the PayPal trade mark by 2009. It would enable PayPal users to pay in several instalments and benefit from a cash reserve to make their purchases on the Internet and at points of sale.

About Cetelem and BNP Paribas Personal Finance
Cetelem was the pioneer of consumer credit in 1953 and on-line credit in 1997 and is now the market leader in France and Continental Europe.
In January 2008 Cetelem and UCB, major player in mortgage lending in France and Europe, brought together their activities and gave birth to BNP Paribas Personal Finance, the leading credit specialist player in Europe (consumer and mortgage lending) with €100B in outstanding loans under management and nearly 25,000 people.

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About PayPal

PayPal is a simpler, faster and safer way of paying on the Internet in which buyers do not have to share their confidential information with sellers. PayPal is the world leader in on-line payment with 149 million accounts throughout the world and had a volume of transactions of 12 billion euros in 2007. Available in 190 countries and 17 currencies, PayPal offers its individual or commercial customers solutions enabling them to make the most of the advantages of e-commerce in complete confidence. Today, over 200,000 websites throughout the world, 130,000 of them in Europe, offer PayPal as a method of payment.

In France, one in every three on-line buyers has a PayPal account: over 5 million consumers have chosen this solution to make their purchases by bank card or to send money to those close to them (source: Fevad 2008). On the trading websites of large companies as well as small and medium-sized ones, PayPal offers a flexible and integrated payment solution for the development of their Internet activities. With banking and technological partners, PayPal plans to share in the growth of e-commerce, optimise remote methods of payment and make them secure.

Created in 1998 in San José, California, where its registered office is located, and a subsidiary of the eBay Group since 2002, PayPal is now present in 14 countries and holds a banking licence for the European Union. It employs 7,000 people, about thirty of them in France.

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Press contact(s)
Press Contacts

Marc Jaugey
Email : mjaugey [at] paypal (dot) com
Tel : 01 78 40 43 79

i&e Consultants
Mariya Prunak / Ilham Ennaciri
Email : equipepaypal [at] i-e (dot) fr
Tel : 01 56 03 12 25

BNP Paribas Personal Finance
Flavien Neuvy
Email : flavien.neuvy [at] cetelem (dot) fr
Tel : 01 46 39 10 68

Pascal Roussarie
Email : pascal.roussarie [at] cetelem (dot) fr
Tel : 01 46 39 91 30

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