Managed Hosting News 
Friday, 11th February 2011, 16:53:28
PayPal's market share increases to 18% as more people use ecommerce
More people could be using ecommerce websites after online payments company PayPal announced that its market share of internet transactions has increased to 18 per cent.
The firm, which is owned by EBay Inc, announced earlier this week that it expects revenues to double to around $7 billion (£4.38 billion) by 2013 as online shopping continues to become more popular.
It announced sales of $3.4 billion in 2010 and could become EBay's biggest business in the next five years.
According to Bloomberg, president Scott Thompson told analysts yesterday (February 10th) that PayPal is a market-leader in transactions.
"No one comes close -- not the banks, not the telecos and not the startups," he is quoted as saying.
"These competitors can claim any one of the capabilities we have, but no one comes close to the breadth we have."
Earlier this month it was reported that France's big three mobile phone operators will create an online payments system to rival PayPal.
Posted by Phil Williams
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Categories: | Ecommerce |
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