PayPal, eBay's online payment service is set to make a mark in the banking and finance sector too. It not only enjoys the attachment with all the ebay transactions but now it as a Banking License in Europe (from Luxembourg bank authority).
We know major credit and debit cards on eBay's shopping sites are accepted only through PayPal.
In a strange ratio with that of eBay that shows PayPal's first-quarter revenue grew 31%, to $439 million, at a time when eBay's core shopping business grew just 23% and active buyers and sellers grew 10%.
In case of online transaction competition, PayPal's main rivals for online dollars are Visa, MasterCard (MA), American Express (AXP), and the banks that issue their cards. Today PayPal has a 143 million accounts while Visa has more than a billion.
EBay does accept major credit and debit cards on its shopping sites -- but only through PayPal.
Google Checkout has something to think about considered the growing and consistent popularity of PayPal through years and the trust it owns from webmasters around the world.
Another news that Ebay is taking off its adds from Google network in US shows a less impact to its overall visitors.
According to Bill Tancer, a research analyst at Hitwise, the internet research firm, said that eBay’s decision to pull all its advertising from Google in the US had had only a small impact on the “traffic” flowing from the search engine to the online auctioneer’s site.Some 9.6 per cent of eBay visitors came from Google on Tuesday, the first full day that the boycott was in effect, compared with 10.6 per cent on the previous Tuesday.
eBay's new online payments system is not very far from new secure pay systems and a debit card too!!
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