PayPal claims 15m UK users
Print storyLots of eBayers
Posted in Financial News, 1st November 2006 13:33 GMT
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PayPal now has 15m accounts in the UK - a third of the adult population and more than half of active internet shoppers.
Figures from Datamonitor estimate there are 24.9m online shoppers in the UK, spending an average of £600 each a year.
UK chief executive Geoff Iddison told the Reg: "We are growing faster than ecommerce in the UK. And these are not just user numbers but accounts connected to a specific bank account."
The online payment system can take and make payments in 103 markets and in seventeen currencies. Worldwide, PayPal made revenues of $350m by making transactions worth some $9.1bn.
It is going after more merchant accounts and also wants to get a slice of the £440m sent by UK residents to families abroad.
The company, bought by eBay in 2002 for $1.5bn, has 123m account holders worldwide. ®
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