<p>Commenting on IMRG Capgemini Sales Index for December 2008, Mark Hodson, UK Marketing Director at PayPal said: “The latest figures from IMRG* show that our love affair with online shopping is as intense as ever, despite the credit crunch. While the high street had a tough time in December, IMRG confirms that people did open their wallets this Christmas - they just did it online. </p>

<p> “Recent research from PayPal revealed over three-quarters (77%) of online shoppers believe shopping online is more convenient than shopping on the high street. That convenience and the perception that the biggest bargains are found on the internet have given e-tailers a big advantage in what the British Retail Consortium have called the worst December on record. In the current economic climate it will be even more important for retailers to see how the internet can play to the strengths of their business. Creating an impressive ‘virtual shop’ is one way to stay ahead of the game – helping smaller retailers to compete with the biggest names on the high street. “ </p>

<p>- Ends - </p>

<p>For further media information please contact:
<br /><a href="mailto:paypal@lansons.com">paypal@lansons.com</a>
<br />020 7566 9777
<br />• Helen Thomson / Laura Moss / Louise Bromley / Paul Crayston - Lansons Communications</p>

<p>Notes to Editors
<br />*According to IMRG figures released on Thursday 15th January
<br /> ** PayPal Large Online Retail report, produced by The Future Laboratory. Insights in the report are compiled from a combination of desk research, expert interviews and a quantitative survey. Quantitative research conducted through a survey of 2,100 16- 55 year olds across Britain, June 2008. The survey sampled and the results published are extrapolated to be representative of the British population in accordance with the rules and formulas published by the British Polling Council.</p>

<p>About PayPal
<br />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
<br />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. In 2007, PayPal processed more than $47 billion in total payment volume, up 33% year on year and the total payment volume for PayPal Merchant Services was $7.5 billion in Q3 2008, up 49% year over year. PayPal has over 165 million accounts worldwide and supports payments from 190 markets in 19 global currencies.
<br />More information about the company can be found at <a href="http://www.paypal.co.uk">www.paypal.co.uk</a&gt; or <a href="http://www.paypal.co.uk/press">www.paypal.co.uk/press</a></p&gt;

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Published on: 7:11AM on 20th January 2009