PayPal Has Officially Overtaken eBay’s Marketplace in Sales for the First Time

April 22, 2015 11:29 PM

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PayPal Has Officially Overtaken eBay’s Marketplace in Sales for the First Time

Dan Schulman, PayPal’s CEO-to-be, thinks online payments are having a bit of a moment. “We are currently in one of the most exciting periods for financial services,” he told investors on Wednesday afternoon. “The online and offline payments worlds are digitizing and converging through mobile experiences.” Wall Street might agree, judging from the 5-plus percent that shares of eBay, PayPal's parent company for a few more months, are up in after-hours trading. In the first quarter of 2015, PayPal’s total net payment volume jumped 18 percent to $61 billion. During that same period, PayPal added 3.6 million new accounts and processed some 1 billion transactions.

PayPal, which encompasses payments system Braintree and popular mobile payments app Venmo, is scheduled to spin off from eBay in the third quarter of this year. After the split, PayPal and eBay will be separate public companies but will continue to share many business relationships. As part of a dea...

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