June 2 , 2011

B-to-B online auction marketplaces Liquidation.com, GovDeals.com
now accepting payments through PayPal Canada

TORONTO AND WASHINGTON--PayPal Canada and Liquidity Services, Inc. announced that Canadian buyers will now be able to use PayPal as well as Canadian credit cards to transact on Liquidity Services' B-to-B online auction marketplaces, www.Liquidation.com and www.GovDeals.com.

The addition of enhanced payment processing is an initial step of a larger program by Liquidity Services to make it easier for Canadian businesses and individuals to buy surplus assets from leading retailers, government agencies and multi-national energy companies through its network of online auction marketplaces.

Canadian buyers will now be able to pay for their purchases under US$5,000 on both GovDeals.com and Liquidation.com using a credit card or PayPal. Previously, all non-US buyers on these sites, including Canadian buyers, were required to pay by wire transfer.

"PayPal Canada's collaboration with Liquidity Services removes a friction point that exists across borders and in the exchange of different currencies. We are excited to provide Canadians with a faster, safer and easier way to pay which will enhance the buying experience for Canadians looking to purchase from U.S. based marketplaces such as Liquidation.com and GovDeals.com," said Darrell MacMullin, Managing Director of PayPal Canada.

"Liquidity Services has grown to be the largest online sales channel for surplus assets in the United States and we are excited to simplify our payment options for our current and prospective buyers in Canada," said Bill Angrick, CEO of Liquidity Services. "Extending our existing relationship with PayPal to support Canadian buyers is the first step in our broader plan to streamline the entire process of trans-border logistics between the U.S. and Canada."

Liquidity Services' current base of 1.5 million registered buyers across 116 countries includes over 33,000 Canadian buyers. In addition, Liquidity Services is the sales channel for a small but growing number of Canadian retailers seeking to enhance recovery value on consumer returned and overstock merchandise.

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 and credit cards. With more than 98 million active accounts in 190 markets and 25 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay company. The company's open payment platform, PayPal X, allows developers to build innovative payment applications on multiple platforms and devices.

Liquidity Services, Inc. provides leading corporations, public sector agencies and buying customers the world's most transparent, innovative and effective online marketplaces and integrated services for surplus assets. On behalf of its clients, Liquidity Services has completed the sale of over $2.0 billion of surplus, returned and end-of-life assets, in over 500 product categories, including consumer goods, capital assets and industrial equipment. The company is based in Washington, D.C. and has approximately 700 employees.


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