October 24, 2002, 12:00 AM

PayPal goes global with payments in euros and pounds as well as dollars

PayPal’s new functionality enables users to send, receive, and hold funds in euros, pounds sterling, or U.S. dollars.

Kurt Peters

Executive Editor

 

PayPal Inc. is making its online payment service available in euros and pounds sterling. The new functionality, which PayPal calls "Multiple Currencies," enables users to send, receive, and hold funds in euros, pounds sterling, or U.S. dollars. Until now, transactions between PayPal users in 38 countries were in U.S. dollars only.

In coming months, PayPal plans to support additional currencies, including Japanese yen, Australian dollars and Canadian dollars.

"The ability to send money in a local currency online is a tremendous convenience to PayPal members outside the U.S.," said Sandeep Lal, senior vice president of PayPal International Product. "Instead of paying other Europeans only in U.S. dollars, you can now give them what they want -- euros or pounds."

A subsidiary of eBay Inc., PayPal has more than 20 million user accounts and, in the first half of 2002, processed more than $3 billion in payments.

 

Comments

Sign In to Make a Comment

Comments are moderated by Internet Retailer and can be removed.

Not a member? Signup for free today!

Advertisement

Advertisement

Advertisement

Relevant Commentary

FPO

Jason Squardo / Mobile Commerce

Five tips for achieving high mobile search rankings

Searches on mobile devices will soon exceed those on computers, Google says. Retailers that keep ...

FPO

Sergio Pereira / B2B E-Commerce

Quill turns to its B2B customers for new ideas

Coming in April is a new section of Quill.com that will let customers and Quill ...

Advertisement