PayPal: International Revenue Exceeds U.S. Revenue for First Time
Jan. 26, 2012
In its quarterly and yearend earnings report, e-commerce company eBay said its PayPal business ended the quarter with 106.3 million active registered accounts, a 13 percent increase from 2010. On average, the company said, PayPal added a million new accounts every month in 2011. PayPal revenue for the last quarter of 2011 increased 28 percent year-over-year driven primarily by continued merchant and consumer adoption as well as increased penetration on eBay. In the fourth quarter, eBay said in its earnings report, revenue from PayPal’s international markets exceeded revenue from the U.S. for the first time. PayPal’s net total payment volume (TPV) grew 24 percent to $33.4 billion in the fourth quarter of 2011. The company’s mobile payment volume reached $4.0 billion in 2011, more than five times the mobile payment volume in the prior year, as more consumers used their smartphones and tablets to pay online. In a separate announcement on its official blog, PayPal said it has revised its forecast for mobile payments, projecting that the company will see $7 billion in mobile payment volume in 2012.