PayPal accounts hit the 100 million mark
PayPal has surpassed 100 million accounts across 55 markets worldwide, the company reported today. What started in 1998 as a convenient way to pay for eBay purchases has now become a payment option not only on eBay but with online merchants, which PayPal says number in the millions. Today, PayPal is a subsidiary of eBay Inc.
“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.”
At the end of 1999, PayPal had 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.
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