When people began reporting scams and questioned the validity of the site, the owner claimed he had personally received PayPal's express permission to use their name and logo.
Everything about the operation set my BS radar off, so I was not surprised to see the scam reports. As he tried to ride the coattails of the trusted PayPal name to legitimize himself, that radar went crazy.
So I asked PayPal:
"There are scam reports on this website and the owner is claiming they received your express permission to use PayPal's name in their domain and business name, and PayPal's logo. Please advise if this is true, approved by PayPal or a scam."
Their response read, in part:
"You're right - it was a phishing attempt, and we're working on stopping the fraud. By reporting the problem, you've made a difference!
Identity thieves try to trick you into revealing your password or other personal information through phishing emails and fake websites."
There you go, confirmed scam.