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The popular online auction and shopping Website, eBay, has announced that its recent quarter profits has risen by up to 26% thanks to a boost from the electronic commerce Web platform, Paypal. eBay reports that the net profits of 412.2 dollars was in large parts as a result of PayPal’s delivery of a record-high performance.
This is positive news for PayPal, which is becoming stronger and more popular for making Internet transactions. There is also some good news being reported for the “Bill Me Later” service, acquired by PayPal in 2008, which extends credit to medium or large merchants buying stuff online.
While the strong overall performances are being recorded in Europe, the chief executive, John Donahoe maintains that significant changes and improvements are still required in the United States where competition seems to be more rife. However, the relationship between PayPal and eBay appears to be growing stronger and continues to make progress.
Talking Point
Do you trust and use PayPal to make online transactions?