• PayPal share of consumer internet payments now 21%

Commenting on the Payments Council Report* ‘UK Payments Market 2008’, Mark Hodson, Marketing Director at PayPal UK said: “The increase in PayPal’s market share of consumer internet payments from 16% in 2006 to 21% in 2007 as highlighted by the report is exciting news. The findings firmly establish PayPal as the nation’s favourite online payment solution.

“PayPal is now featured as a payment option on over 120,000 retailer’s sites across Europe. Major UK brands which have launched with PayPal in recent months include William Hill, CDWow, Victor Chandler and all the Arcadia brands; Burton, Dorothy Perkins, Evans, Miss Selfridge, Topman, Topshop and Wallis. By partnering with PayPal these retailers gain an additional way to accept credit cards, debit card and bank payments online. In addition, with PayPal’s Express Checkout websites have an average shopping cart conversion of 72%, compared to the industry average of just 50%.

“Online shoppers are still concerned about identity theft, and are rightly wary of typing their card details on e-commerce sites. PayPal offers the peace of mind that their financial details are not shared. As a result, PayPal is the most preferred online payment brand in the UK** and has a customer base of over 20 million online shoppers. Consumers are demanding faster online shopping experiences, which are both safe and secure. The convenience of being able to checkout in just a few clicks without having to type in payment details or address are what make PayPal such a popular way to pay.

”It’s clear that online retail sales are booming*** and we hope to continue the momentum we have built up and see our market share increase again for 2008.”

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Helen Thomson / Laura Moss / Louise Bromley / Natalie Martin - Lansons Communications

Notes to editors:
* UK Payments Market 2008, Payments Council
** PayPal Brand Tracker, conducted by FactWorks. PayPal is preferred by 30% of UK online shoppers versus other payment
*** According to IMRG £46.6b was spent in 2007

About PayPal
PayPal is a secure online account that stores your card and bank details, enabling you to pay online and by mobile phone quickly and safely. There’s no need to enter your sensitive financial information every time you shop, and you can be confident that it is never shared with the seller. PayPal is the safer, easier way to pay and get paid online

PayPal Europe S.àr.l. et Cie S.C.A. is a Luxembourg-based limited liability partnership, which is regulated by the Commission de Surveillance du Secteur Financier (‘CSSF’) in Luxembourg. PayPal Inc is the ultimate parent of PayPal Europe S.àr.l. et Cie S.C.A. and is 100% owned by eBay Inc. PayPal Inc was set up in the US in December 1998 and acquired by eBay Inc in 2002. PayPal has over 20 million accounts in the UK, over 153M accounts worldwide and can be used to make online payments in 103 markets.
More information about the company can be found at https://www.paypal.co.uk or https://www.paypal-press.co.uk

Published on: 12:00AM on 11th August 2008