PayPal Sees Surge in Online Shopping on Cyber Monday

Shoppers seeking great deals on holiday gifts took advantage of yesterday’s Cyber Monday offers and paid safely with PayPal. For the third consecutive year, PayPal saw double digit growth in online sales, or total payment volume (TPV), on Cyber Monday.

PayPal’s Cyber Monday results of approximately 20 percent year-over-year growth were preceded by higher TPV throughout the Thanksgiving weekend. On Thanksgiving Day 2009, TPV increased by 25 percent year-over-year compared to Thanksgiving Day 2008. Black Friday 2009 TPV also increased by approximately 20 percent from the year before. Mobile payments through PayPal also jumped 140 percent on Black Friday and 190 percent on Cyber Monday compared to that of an average Friday and Monday respectively. This supports an ongoing trend in shopping on mobile devices.

"The higher PayPal volumes show that consumers are taking advantage of the convenience of online shopping and the great deals offered on eBay and on the thousands of PayPal merchant sites across the Web,” said Amanda Pires, senior director at PayPal.

Holiday Deals through Bill Me Later

Bill Me Later is hosting an Outstanding Offer program for the holiday shopping season featuring daily exclusive, limited quantity offers available only to Bill Me Later customers. Participating online stores include MacMall, Bluefly and Overstock. Additionally, Bill Me Later is featuring the run up to Toy Tuesday on December 8, with exclusive deals from drugstore.com, Little Tikes, Step 2, and other online merchants. For more information on these deals, please visit www.ToyTuesday.com.

Regift the Fruitcake with PayPal to Benefit Charity

Today PayPal launched its 2009 "Regift the Fruitcake” campaign. To participate, go to www.paypal-regiftthefruitcake.com, make a virtual fruitcake, and donate to one of 25 charities. Then use Facebook Connect to "regift” the fruitcake to friends around the globe. As a bonus, participants are eligible to win a $5,000 grand prize, as well as weekly prizes. More information is available at www.paypal-regiftthefruitcake.com.

About PayPal

PayPal is the faster, safer way to pay and get paid online. The service allows members to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing. With more than 78 million active accounts in 190 markets and 24 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay company and is made up of three leading online payment services: the PayPal global payment service, the Payflow Gateway and Bill Me Later. The company's open payment platform, PayPal X, allows developers to build innovative payment applications on multiple platforms and devices. More information about the company can be found at https://www.paypal.com.