March 25 2007

PayPal nearly at 35 million accounts

PayPal has announced that there are nearly 35 million PayPal accounts in Europe. This milestone demonstrates the growing popularity of PayPal amongst online shoppers and merchants across Europe.

PayPal's popularity is reflected in high penetration rates among online shoppers in the major European markets including the UK, Germany, France and Italy. According to Forrester Research, 23% of European online shoppers prefer paying with PayPal.

"PayPal has worked hard to build a safe and convenient payment service specifically tailored to European e-commerce," said Brent Bellm, vice president of PayPal Europe.

In 2006, PayPal processed $8.4 billion of total payment volume in Europe from thousands of European merchants including retailers such as Boots, DHL, Harrods, Meetic, Pixmania and eBay.

PayPal has a local presence in 15 countries including Austria, Belgium, France, Germany, Italy, Spain, Ireland, the Netherlands, Poland, Switzerland and the UK. To support local and cross border ecommerce, PayPal also supports payments from 103 markets in 17 global currencies including Euros, Pounds Sterling, Czech Koruna, Danish Krone, Hungarian Forint, Norwegian Krone, Polish Zloty, Swedish Krona, and Swiss Francs.

Emma Herrod