Warning against PayPay Inc.

Pursuant to Article 4 para. 7 first sentence of the Bankwesengesetz (BWG; Banking Act) resp. Article 64 para. 9 first sentence of the Zahlungsdienstegesetz (ZaDiG, Payment Services Act), the Austrian Financial Market Authority (FMA) may disclose to the general public by publication on the Internet, in the official gazette “Amtsblatt zur Wiener Zeitung”, or in any other newspaper with nationwide circulation, that a particular natural or legal person (person) is not entitled to carry out certain banking transactions resp. payment services, provided that said person has given cause for such action and informing the general public is deemed necessary and reasonable with regard to possible disadvantages of the person concerned.

By publication in the official gazette “Amtsblatt zur Wiener Zeitung” of 1 June 2010, the FMA informs, that

PayPay Inc.
1230 Avenue of the Americas
Rockefeller Center
New York
NY 10020
USA
Phone: (917) 338-6359; (917) 338-3659
http://www.paypayinc.com
info@paypayinc.com; customerservice@paypayinc.com

is not authorised to carry out certain banking transactions or payment services requiring a licence in Austria. The commercial acceptance of funds from other parties for the purpose of administration or as deposits (deposit business) pursuant to Article 1 para. 1 no. 1 BWG is therefore not allowed, neither the provision of non-cash payment transactions, clearing services and current-account services for other parties (current account business) pursuant to Article 1 para. 1 no. 2 BWG nor the issuance of electronic money (e-money business) pursuant to Article 1 para. 1 no. 20 BWG or the commercial transaction of bank transfers including standing orders pursuant to Article 1 para. 2 no. 2 lit c ZaDiG.