PayPal is a fully licensed and regulated bank in some regions including all of the EU, and is licensed and regulated by each US state it operates in.
Many of the startup alternatives people recommend seem to be operating on a "try to grow fast enough that we can afford to operate legally when states start suing us" basis, as they aren't similarly licensed.
It's hard to imagine there being more oversight than the over 200 governments regulating them currently, including ~55 separate agencies in the US.
https://www.paypal.com/webapps/mpp/licenses
PayPal is a fully licensed and regulated bank in some regions including all of the EU, and is licensed and regulated by each US state it operates in.
Many of the startup alternatives people recommend seem to be operating on a "try to grow fast enough that we can afford to operate legally when states start suing us" basis, as they aren't similarly licensed.