Paypal Up 35% in Q4
Payments News reported that Paypal is up 35% in 07 Quarter 4, year over year.
eBay reported fourth quarter 2007 financial results earlier today – saying that “PayPal posted another stellar quarter with $563 million in revenue, an increase of 35% year-over-year. Net total payment volume (TPV) for the quarter was $14.04 billion, an increase of 35% year-over-year. The revenue and net TPV growth represents increased penetration on eBay as well as expanded adoption of PayPal Merchant Services across the Web. PayPal will continue to focus on greater penetration into the Marketplaces business as well as the acquisition of new merchants.” (..more)
We know, and everyone knows the lucrativeness of running a digital money business; but to knock Paypal down from wherever it is at right now is impossible.
With eBay and almost every service/ product provider using Paypal as a checkout option, they are the leader among the pack.
ps. Wish they do away with the absolutely hefty fees, but that explains the 35% increase in revenue anyway.
Well, PayPal doesn’t really have any viable competition right now. I wonder how long that will continue.
Long lasting unless some form of lawsuit comes on to slap Paypal in the face.
We don’t see that happening in the near future.
Hate to nit-pick, but I think it’s important to note that PayPal isn’t a digital currency at all.
It is simply a service to move US dollars from one person to another (like online banking) coupled with various services geared toward person-to-person retail sales.