eBay reported that PayPal had 105.0 million total accounts at the end of the first quarter, a 47% increase from one-year ago. Total payment volume rose 41% to a record $8.8 billion which includes payments initiated through the PayPal system but excludes its payment gateway business. The number of active accounts hit 29.2 million as of March 31st, its highest level to-date. During the first quarter, PayPal handled 149.2 million payments, a 7% increase over the prior quarter and up 35% from 1Q/05. PayPal’s 1Q/06 transaction revenue rate was 3.74%, up ten basis points from one-year ago. The processing expense rate for the first quarter was 1.04%, compared to 1.15% for 1Q/05. PayPal’s transaction loss rate came in at 29 basis points, up one basis point from one-year ago. For complete details on eBay/PayPal’s first quarter performance, visit CardData ([www.carddata.com]).
1Q/05 $6.2 billion 71.6 million
2Q/05 $6.5 billion 78.9 million
3Q/05 $6.7 billion 86.6 million
4Q/05:$8.1 billion 96.2 million
1Q/06:$8.8 billion 105.0 million
SOURCE: CardData (www.carddata.com)