Tuesday, March 02, 2010

More New Merchants to Start Accepting PayPal

According to the Wall Street Journal, the pipeline of new merchants that will soon accept online payments through eBay Inc.'s PayPal unit is "strong," PayPal President Scott Thompson said.

Thompson declined to specify how many new merchants are about to support eBay's payment system, saying it could take up to two years in some cases for retailers to integrate PayPal into their Web sites.

Speaking during an appearance at the Morgan Stanley Technology, Media and Telecom Conference in San Francisco, Thompson said the lag was largely due to the challenges posed by linking PayPal's system with "frail" merchant sites built with legacy software.

The company is "very pleased" with the world-wide merchant pipeline, he said, adding the size of the pipeline varies based the markets in which PayPal operates. He noted the service would be available in an unspecified number of new countries this year.

Non-eBay merchant services accounted for 57% of PayPal's $21.4 billion in total net payment volume in the fourth quarter of 2009, up from 50% in the year ago period, says the Wall Street Journal.

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