Industry committee  Just to elaborate on that point, when we look at the transaction cost, there is the per-transaction cost, but there are also other costs associated with transactions. For instance, if you refund a transaction, are the fees refunded? Often acquirers don't refund the fees. PayPal d

Industry committee  Is it about a third? Okay. That's of sales volume. It's one of those things we're trying to make as simple as possible for customers to understand so they can build their business.

Industry committee  We can talk about mobile for hours. It is a bit of a catch-all phrase, though. I alluded earlier to one of the approaches that PayPal is taking toward mobile. We are making ourselves ubiquitous from that standpoint, so we're not reliant on a particular handset or a particular ne

Industry committee  The same thing. When a customer sets up a PayPal account, you can both buy and sell with that account. You can set it up in your business name or in a person's name so that it has a few different features to it, but from a cost standpoint, there is no cost difference. It is free

Industry committee  When you have your PayPal account essentially set up, when you're setting up your e-commerce website, you need some sort of a storefront, and that is not necessarily provided by PayPal. We do have some capability there with one of our main products, Website Payments Standard. Y

Industry committee  I'll go back to my comment in my opening remarks: we're still growing at three times the rate of e-commerce in this market. Canadians are transacting on PayPal once every second, and once every minute through mobile phones already, so they're typically already trying new technolo

Industry committee  Great question. It's actually both. More and more merchants are accepting PayPal as a form of payment. Consumers are adopting us in more ways. If you had thought, years ago, that eBay might have been the only place to use it, now you would see its use in more and more places.

Industry committee  I think fraud is never 100% solved; it's continually evolving. It doesn't matter if you are creating new technologies or new forms of payment, there is always going to be some sort of an arms race. As soon as you think you've solved it, there's something else that's new. We've pr

Industry committee  Thank you, Mr. Caron. There are a number of things that PayPal does to protect our customers. Phishing and spoof emails and scams have been going on for many years. PayPal was actually an early victim of that, probably an early target, given our global nature and our scale. We h

Industry committee  This is one of the reasons people are skeptical about doing transactions online. Part of it is comprehension, and there we do a lot for our customers in teaching them, for instance, that we will never send them an email asking them to log into their account or to update their inf

Industry committee  There are a couple of points of clarification. The credit card fee is inclusive of the PayPal fee. You're not paying a PayPal fee plus whatever your agreed-upon credit card agreement says.

Industry committee  Correct. So if you're using a Gold TD card, or a basic Royal card, or an Amex card, the fee is going to be the same. How PayPal fees are structured, as I mentioned, at 1.9% plus 30¢, up to 2.9% plus 30¢, depending on your monthly sales volume. So whether you're doing $3,000 a mo

Industry committee  Yes, 1.9% to 2.9%, plus 30¢ per transaction.

Industry committee  Yes.

Industry committee  Absolutely. That's why I was saying, in particular for the small and medium—