GAMBLING NEWS
PayPal grows in the third quarter
Nov 2, 2009
The online payments provider PayPal owned by eBay has published a new financial report for the third quarter in 2009. PayPal has experienced a positive growth all the way since the payment network saw the lights of day and this quarter is not an exception. The poor results in the financial sector showed in the downswing of PayPals revenue during the third and fourth quarter last year and the 2 beginning quarters during 2009. The Third quarter does however show that the world is coming around after the poor financial situation.
PayPal that published their report together with their paternal company, eBay, shows an all time high result for any quarter and a growth of over 15% looking at the results for the third quarter in 2008. In total the 78 million PayPal users made transactions to stores with a total value of 17.7 Billion dollars which is a growth of 19% comparing to the same period last year. The growth has further shown that the economic recession has come to a halt and that the global economy is starting to slowly balance out.
PayPal was started by two companies named Confinity and X.com. The two companies was created by collage students in the late 1990:s that was looking in to an easy way of making online transfers from one person to another with just limited financial details needed. The payment method became a huge success specially to pay for merchandise bought through eBay.com. In 2002 eBay decided to buy the payment solution for a prize of 1.5 billion dollars. PayPal has since then been one of the most used online payment methods in the world.
