Less Than Half PayPal's Revenue to Come From eBay by Year's End

From DailyTech: PayPal President Scott Thompson announced at RBC Capital Markets conference Wednesday that by the end of the year, less than half PayPal's revenue will come from eBay buyers and sellers. Rather, the majority will now come from PayPal's Merchant Services.

The new growth has helped PayPal avoid slipping amid newfound competition from Google's Checkout and newcomer Amazon.com's new payment service. Amazon.com, a perennial eBay rival, recently introduced a competitive service titled Checkout by Amazon.

PayPal is not just looking to move away from eBay, it’s also looking to branch out in the booming overseas market as well, raking in new business in China and India, among others. Mr. Thompson stated, "By the back half of 2009, the international business will exceed our North American business."

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