It's better than PayPal, because of it's (current) lack of annoying fees. I signed up for it last week, and have gone over their Terms of Use with a fine tooth comb, and can't find any unexpected fees so far. Check it out:
What info do they ask for during the sign-up process?
Name, address, e-mail address, phone number. And then, of course, when you want to fund the account or transfer money to your account, you'll need to put in banking info. Otherwise from that, they didn't ask for any serious info.