PayPal Makes E-Commerce Easier with "PayPal Shops"
Directory of 5,600 PayPal-Preferring Merchants Helps Guide Shoppers; Businesses to Benefit from Millions of Unique Weekly Visitors
Palo Alto, CA - March 13, 2001 - PayPal (www.paypal.com) today announced "PayPal Shops," a directory of e-commerce merchants that prefer to be paid through PayPal, the leading online payment service. The collection of more than 5,600 businesses, arranged by merchandise or service category, will provide PayPal's nearly seven million members with a new, convenient way to shop online. In turn, PayPal-preferring merchants will get to compete for the attention and dollars of PayPal.com's more than three million unique weekly visitors - people proven to use the Internet not just to browse, but to buy.
"For our seven million members, finding the right place to shop online just got easier with PayPal Shops," said David Sacks, executive vice president of product, PayPal. "That's because our members have told us they prefer to shop at e-businesses that accept PayPal. Sellers listed on PayPal Shops also benefit by using the number one online payments provider, fueled by more Internet traffic than any other financial website."
PayPal members spend approximately $8 million a day in more than 160,000 transactions. PayPal allows people and businesses to send and receive money instantly and securely over the Internet, funded from credit cards or bank accounts.
PayPal is the leading payment service for online auctions, including eBay™, where most auctions advertise PayPal as a preferred payment method. For eBay™ seller Tim Grayson, listing in PayPal Shops is a great way to increase bids - and sales.
"Lots of my buyers like to pay through PayPal and I've already accepted thousands of dollars in successful sales through the service, so it just made sense to list my business in PayPal Shops to get in front of their millions of buyers," said Grayson, whose recent auctions include name-brand leather goods and electronics equipment. "As an eBay™ seller, also listing in PayPal Shops makes my merchandise available to an even broader market, and one whose members are ready to pay online for faster shipment. I like that."
PayPal is also increasingly being used for non-auction e-commerce, and as a cost-effective payment service for off-line businesses looking to receive payment at their corporate website.
"Our customers are located all over the country," said Paula Banks of Georgia-based Automotive Transport, Inc. "Having people pay us through PayPal is convenient for them and fast, easy and inexpensive for us," she added. "With PayPal Shops, we can advertise our transport service to a national audience of millions of Internet users - people who are already set up to send us payment by email. That's a very valuable service for a small business."
For frequent online shopper Heather Ryan, the value of PayPal Shops is obvious. "It's hard enough finding exactly what you want online at a price you're willing to pay," she says. "The beauty of PayPal Shops is that once you do, you don't have to worry about how to pay for it and how long it's going to take to get it - I can pay by email and have it shipped the same day."
PayPal is the instant and secure online payment service that allows people and businesses to send and receive money by e-mail from bank accounts or credit cards. With nearly 7 million members and growing, PayPal is the world's first and largest Internet-based payment service, and the #1 financial site on the Internet, according to PC Data Online. PayPal is the preferred payment service for online auctions, online community and group Web sites, and is seeing tremendous growth in e-commerce transactions for small businesses. PayPal members send approximately $8 million in more than 160,000 payments each day. Free to consumers, PayPal can be used from PCs or web-enabled mobile phones. Business users pay transaction fees to receive payments through PayPal.
PayPal is a privately held company headquartered in Palo Alto, California. PayPal was recently named one of the 50 Most Important Private Companies in the World by Red Herring and one of the Top 25 New Companies by Fortune Small Business. The PayPal Website has been cited as among the ``Best of the Web'' by Forbes, Time, PC Magazine and U.S. News & World Report. For more information, please visit http://www.paypal.com.
SOURCE: PayPal, Inc.