PayPals Expansion Pay’s Off
PayPal Inc. 2-year-old campaign to diversify its transaction-processing business beyond the online auction marketplace of its parent, eBay Inc., is starting to show results. Some 37% of the processor’s payment volume in the three months ended Sept. 30 came from merchants outside of eBay, up from 32% in the year-earlier quarter, according to operating statistics released by eBay. That’s also an increase over the 35% PayPal saw from Internet merchants in the second quarter.
The company processed total volume of $9.12 billion on 146.2 million transactions in the third quarter. These numbers were up only slightly over the second quarter, but represented increases of 37% and 24%, respectively, over the year-ago period. The processor’s figures for payment volume and transactions do not include traffic processed through its merchant-gateway unit, which was acquired last year from VeriSign Inc.
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