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PayPal First Quarter Up With Yahoo Help
PayPal Inc. saw its transaction volume swell 19% in the first quarter, to 177 million payments, while its non-auction business expanded to 39% of all transactions in a performance widely credited with boosting parent eBay Inc.’s financial results for the period. News of the e-commerce transaction processor’s performance comes just as it has wrapped up a deal with Yahoo! Inc. that will allow businesses that are Yahoo! advertisers as well as PayPal accountholders to process payments at no charge through PayPal Express Checkout until the end of the year.
In its quarterly financial report released Wednesday, eBay revealed the processor added 13.3 million accounts in the first quarter to claim 143.3 million users, a 36% increase from the year-ago period.
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