Cameron McLean, PayPal’s general manager for UK merchant services, said: “We saw a significant boost in e-commerce payments in the UK at the start of February as a result of the heavy snowfall, which encouraged many people snowed in at home to visit the online high street. The good news is that this didn’t significantly tail off with the thaw, and online sales remained strong for the rest of the month.

“IMRG Capgemini* shows that people are still flocking online, with total online sales in February up 12.2% year on year. It’s a trend confirmed by PayPal’s experience: we’ve seen a 50% increase in the number of unique visitors to our UK website over the last 12 months, increasing our lead as Britain’s most visited financial services website.

“The IMRG Capgemini figures report a 37% year on year fall in gift sales in February, partly reflecting the fact that Mother’s Day falls later this year than in 2008. And our own consumer research told us that the number of people who intended to buy Valentine’s presents had dropped by almost 10% year on year**, although many retailers accepting PayPal have seen strong Valentine’s sales this year.“

For further information please contact:

paypal@lansons.com

020 7566 9777

Helen Thomson/Louise Bromley/Paul Crayston - Lansons Communications

Notes to Editors

*According to IMRG figures released Monday 16th March 2009

** The PayPal ‘Can’t Buy Me Love’ survey was conducted by Ipsos between 9 and 19 December 2008 amongst a sample of 7,000 adults, evenly divided between Australia, Canada, Mexico, Italy, the Netherlands, the United Kingdom and United States. In total, 1,000 UK adults were questioned.

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. 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 175 million accounts worldwide and supports payments from 190 markets in 19 global currencies.


More information about the company can be found at www.paypal.co.uk or www.paypal.co.uk/press

Published on: 4:55AM on 18th March 2009