Brad Down

MEDIA RELEASE - PayPal grows online payments market in Australia - Number of transactions through PayPal increases 5 fold in 5 years

Sydney, Australia 22 April, 2010: PayPal today marks its fifth anniversary in Australia with 3 million active users and over 30,000 Australian businesses now using PayPal as a secure way to send and receive money online. PayPal is capitalising on the growing Australian eCommerce market with the number of customer registrations growing more than 25% in the last calendar year.

The total payment volume for PayPal in 2009 was almost US$2 billion, an increase of 32 per cent from 2008, demonstrating rapid growth as consumers and businesses seek fast, safe and secure ways to shop online. PayPal enables online payment for both large and small Australian businesses, including JB Hi-Fi, Roses Only, Dick Smith Electronics, Hoyts, Borders, Flight Centre, DealsDirect, Optus and Telstra.
 
Frerk-Malte Feller, Managing Director, PayPal Australia, said: “After five years of growth in Australia, momentum is building rapidly in the eCommerce space and more than half of Australia’s top 100 retailers are now using PayPal. Australian retailers are recognising the threat from overseas retailers trying to cash in on the Australian retail market both on and off-line and we are seeing a response to this.”
 
In addition to domestic growth, PayPal has enjoyed a growth in cross border sales.   The recent rise in the Australian dollar has brought about a year on year increase of 32 per cent in cross border payments as Australians seek bargains and choice from overseas, and take advantage of the strong dollar.
 
Conversely, PayPal opens the door to Australian businesses seeking opportunities to sell products or services to overseas markets. With more than 81 million active accounts in 190 markets and 24 currencies, PayPal enables global eCommerce.  Many Australian businesses from fashion boutiques to travel sites are attracting new audiences and expanding revenue streams by selling their wares abroad.
 
Jonathan Reid, Director, MyCatwalk.com, an online Aussie fashion boutique and PayPal merchant commented: “Building revenue from overseas is critical to our business and PayPal has definitely helped us to grow our business abroad. It has proved an incredibly popular payment method in the USA, UK and Europe, and more recently Japan, Hong Kong and Singapore.”
 
Over the past five years, several factors have been responsible for the slower uptake of e-tail amongst Australian consumers. While the cost of shipping, long delivery times and uncertainty around returns policies have prevented some consumers from shopping online, concerns around the security of transactions remains the number one concern to consumers shopping online today[1].
 
James Stevens, CEO and Founder, Roses Only, one of PayPal’s first merchant partners in Australia, commented: “We integrated PayPal the minute it was available in Australia.  Delivering a gifting service, it is critical that our customers feel confident that their payment is secure. Many customers are concerned about providing credit card details. PayPal addressed this issue instantly by enabling our customers to shop in comfort without sharing their details online.”
 
According to Malte, while PayPal has seen growth in leaps and bounds in the last five years, he expects the future to be even more exciting: “We have come an incredible way in the last five years, yet I predict we will surpass these developments in the next two years.  We are passionate about continuing to find new and innovative ways to securely connect buyers and sellers worldwide by providing solutions that fit into consumers’ lifestyles, be it online, through social networks or mobile devices,” he said.

-ENDS-

 

About PayPal

PayPal is the safer, easier way to pay and get paid online.  The service allows anyone to pay without sharing financial information and gives consumers the flexibility to pay in any way they prefer, including through credit cards, bank accounts or account balances. With more than 84 million active accounts (210 million registered) in 190 markets and 24 currencies around the world, PayPal enables global e-commerce.  The company's open payment platform, PayPal X, allows developers to build innovative payment applications on multiple platforms and devices.  PayPal is an eBay company.

The PayPal online payment service is provided to Australian customers by PayPal Australia Pty. Limited ABN 93 111 195 389 ("PayPal") which holds Australian financial services licence number 304962. Before deciding to sign-up or use the PayPal service you should consider the Product Disclosure Statement, available at www.paypal.com.au. This media release is provided for information purposes only and is not intended as financial product advice.

For more information on PayPal in Australia, please visit or contact:

http://www.paypal-education.com.au/media/index.html
 
Jenny Sumner
T: 02 9291 3337
Email: jenny.sumner@edelman.com
 
Jen McCloy
T : 02 9291 3328
Email : jennifer.mccloy@edelman.com


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Brad Down Burst SMS Brad Down
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17 years experience in web design and usability, advertising, marketing and graphic design. Morphing into mobile marketing and SMS expert. Multi skilled, creative and passionate. My goal is to make the web easier to use and more useful for everybody. Specialties: Mobile Marketing, SMS Marketing, Enterprise SMS Solutions Read Brad's full bio

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