SAN JOSE, Calif.--Feb. 13, 2006--PayPal announced today that it has surpassed 100 million accounts across 55 markets worldwide. This growth reflects the rapid expansion of PayPal's network across the global Internet, including the eBay marketplaces as well as merchants all across the web.
"This milestone is a tremendous achievement for PayPal," said Jeff Jordan, president of PayPal. "We've spent the last seven years building a very safe, easy and convenient way to pay online. Our customers prefer to use PayPal because privacy is built right into the service -- they can shop online without sharing their financial information with sellers."
PayPal is popular with online buyers and merchants alike. Shoppers prefer PayPal to send money, because it is fast and easy to use, and their financial information is protected and never shared with merchants or recipients. PayPal is also used by millions of online merchants, including leading e-commerce sites around the world. With PayPal, merchants can sell their goods to the millions of proven online shoppers that prefer PayPal, often seeing an incremental sales lift after adding PayPal to their sites.
PayPal began offering its service in 1999, ending that year with 12,000 accounts and $235,000 in total payment volume. In 2005, PayPal processed more than $27 billion in total payment volume and exceeded $1 billion in revenue. The company has localized services in 14 countries and supports payments in seven currencies -- U.S. Dollars, Canadian Dollars, Australian Dollars, Euros, Pounds Sterling, Japanese Yen and Chinese Yuan.
Founded in 1998, PayPal, an eBay company, enables any individual or business with an email address to send and receive payments online securely, easily and quickly. PayPal's service builds on the existing financial infrastructure of bank accounts and credit cards and uses one of the world's most advanced proprietary fraud prevention systems to create a safe, global, real-time payment solution. PayPal has more than 100 million accounts and is available to users in 55 markets around the world. More information about the company can be found at https://www.paypal.com.