What's in those terms of use/service agreements?

Back in February this year another blogger brought up questionable clauses in terms of use or terms of service. I can't remember whether s/he referred particularly to this financial service provider but I've had the quote saved in blogging drafts ever since, till I had more time to think why it bothers me (and I note it could very well have been amended since then:

"Solely to enable PayPal to use the information you supply us with, so that we are not violating any rights you might have in that information, you agree to grant us a nonexclusive, worldwide, royalty-free, perpetual, irrevocable, sublicensable right to exercise the copyright, publicity, and database rights (but no other rights) you have in your information, in any media whether now known or not currently known."

Why would this provider need copyright and publicity rights to my information? I've seen other service providers be quite clear about specifying that we grant them the right to use our information in order to provide the service we have requested, but this is way more than that: it states "to use the information you supply us with"... isn't that a bit carelessly broad given the right is to be perpetual and irrevocable? Surely the "to use" bit should be "to use only for the services you have requested"?

If this is not significantly suspicious can someone explain why?