Bird & Bird advised PayPal, one of the leading online payment solutions providers, on its acquisition of a stake in BillSAFE, a specialised factoring company for the processing of invoice-based e-commerce payments.
The partnership is aimed to provide online retailers with the option to offer invoice payment to their customers with the security level PayPal is known for.
The new service includes an automated risk check and will allow a broad range of online retailers to sell their goods in return for payment upon receipt of invoice or via existing payment options such as credit card. Factoring and processing will be entirely handled by PayPal/BillSAFE, which makes it particularly attractive for small and medium-sized internet retailers.
The following Bird & Bird lawyers advised PayPal: partner Stefan Münch (lead partner), associates Dr. Alexander Franz and Dr. Kevin Ruben (all corporate/M&A, Munich), partner Dr. Fabian Niemann and associate Lennart Schüßler (both IT, Frankfurt), partner Dr. Markus Körner (IP, Munich) and partner Dr. Jörg Witting as well as associate Dr. Martin Jäger (EU & Competition, Düsseldorf).