PayPal now has over 15 million account holders in the UK, representing over a third of the adult population. Although its transaction fees are not the lowest, its growth means that charities should consider it as another option for accepting online donations on their websites.
Payments can be made via PayPal to anyone with an email address. If the recipient does not have a PayPal account, they receive an email telling them that a payment has been made to them and that they can open an account to accept it.
Geoff Iddison, Chief Executive of PayPal commented: We are thrilled to expand our services to 103 markets and we have just added 10 new currencies worldwide. With these new offerings, PayPal continues to make domestic and cross-border trading easier and more convenient for its millions of account holders across the UK.”
Owned by parent company eBay, PayPal achieved global net revenues of $350 million in the third quarter of 2006, a growth rate of 41% over the $247 million reported at this point last year. PayPal now has nearly 123 million accounts worldwide, an increase of 41% since 2005.