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This excerpt taken from the EBAY 10-K filed Feb 17, 2010. Payments Net Transaction Revenues Payments net transaction revenues increased $320.7 million, or 14%, in 2009 compared to 2008. The increase was due primarily to net TPV growth of 19% in 2009 compared to 2008, partially offset by lower take rates due primarily to a shift in merchant mix. The increase in net TPV during 2009 was due primarily to growth in consumer and merchant adoption of PayPal and the inclusion of Bill Me Later (acquired November 2008). Our Merchant Services net TPV experienced 34% growth during 2009 compared to 2008 and represented 55% of PayPal’s net TPV. The increase in our Merchant Services business was due primarily to an increase in PayPal’s revenue from its existing customer base of merchants as well as an increase in the number of online merchants offering PayPal as a payment option. Payments net transaction revenues increased $482.0 million, or 26%, in 2008 compared to 2007. This increase was consistent with Payments’ year-over-year increase in net TPV of 27%. Payments net transaction revenues increased due primarily to growth in our Merchant Services business and the increase in PayPal’s penetration of eBay Marketplaces GMV. Our Merchant Services net TPV experienced 49% year-over-year growth in 2008, representing 49% of PayPal’s net TPV. The increase in our Merchant Services business resulted from a greater number of online merchants, both domestically and internationally, adding PayPal as a payment option. Payments net transaction revenues earned internationally totaled $1.2 billion in 2009, $1.0 billion in 2008, and $0.8 billion in 2007, representing 46%, 44% and 42% of total Payments net transaction revenues, respectively. International growth in our Payments segment continues to benefit from an increase in PayPal’s revenue from its existing customer base of merchants and an increase in the number of online merchants offering PayPal as a payment option as well as an increase in cross-border payments, which typically generate larger fees. This excerpt taken from the EBAY 10-Q filed Apr 28, 2009. Payments Net Transaction Revenues Payments net transaction revenues increased $45.1 million, or 8%, during the first quarter of 2009, compared to the same period of the prior year, which is consistent with our increase in net TPV of 10% during the same period. Payments net transaction revenues increased due primarily to growth in our Merchant Services business. The continued increase in PayPal penetration on eBay partially offset the negative impact of lower GMV on revenue. Our Merchant Services net TPV experienced 26% growth during the first quarter of 2009, compared to the same period of the prior year and represented 53% of PayPal’s net TPV during the first quarter of 2009. The increase in our Merchant Services business is due primarily to an increase in the number of online merchants offering PayPal as a payment option, as well as an increase in the use of PayPal by existing merchants. Payments net transaction revenues earned internationally totaled $267.0 million and $241.6 million during the first quarter of 2009 and 2008, respectively, representing 44% and 43% of total Payments net transaction revenues, respectively. These excerpts taken from the EBAY 10-K filed Feb 20, 2009. Payments
Net Transaction Revenues
Payments net transaction revenues increased $482.0 million,
or 26%, in 2008, compared to 2007, which is consistent with our
year-over-year increase in net total payment volume (TPV) of
27%. Payments net transaction revenues increased due primarily
to growth in our Merchant Services business and the increase in
PayPal’s penetration of eBay Marketplaces GMV. Our Merchant
Services net TPV experienced 49% year-over-year growth in
2008 and represented 49% of PayPal’s net TPV in 2008.
The increase in our Merchant Services business resulted from
more online merchants, both domestically and internationally,
adding PayPal as a payment option.
Payments net transaction revenues increased $436.7 million,
or 31%, in 2007 compared to 2006, which is consistent with our
year-over-year increase in net TPV of 33%. Payments net
transaction revenues due primarily to growth in our Merchant
Services business and the increase in PayPal’s penetration
of eBay Marketplaces GMV. Our Merchant Services net TPV
experienced 59% year-over-year growth in 2007 and represented
42% of PayPal’s net TPV in 2007. The increase in
Merchant Services business resulted from more online merchants,
both domestically and internationally, adding PayPal as a
payment option.
Payments net transaction revenues earned internationally totaled
$1.0 billion in 2008, $0.8 billion in 2007, and
$0.5 billion in 2006, representing 44%, 42% and 38% of
total Payments net transaction revenues, respectively.
International growth in our Payments segment continues to
benefit from the expansion of our geographical footprint, the
increase in the number of currencies supported by PayPal and the
increase in cross-border payments, which generate larger fees.
Payments Net Transaction Revenues Payments net transaction revenues increased $482.0 million, or 26%, in 2008, compared to 2007, which is consistent with our year-over-year increase in net total payment volume (TPV) of 27%. Payments net transaction revenues increased due primarily to growth in our Merchant Services business and the increase in PayPal’s penetration of eBay Marketplaces GMV. Our Merchant Services net TPV experienced 49% year-over-year growth in 2008 and represented 49% of PayPal’s net TPV in 2008. The increase in our Merchant Services business resulted from more online merchants, both domestically and internationally, adding PayPal as a payment option. Payments net transaction revenues increased $436.7 million, or 31%, in 2007 compared to 2006, which is consistent with our year-over-year increase in net TPV of 33%. Payments net transaction revenues due primarily to growth in our Merchant Services business and the increase in PayPal’s penetration of eBay Marketplaces GMV. Our Merchant Services net TPV experienced 59% year-over-year growth in 2007 and represented 42% of PayPal’s net TPV in 2007. The increase in Merchant Services business resulted from more online merchants, both domestically and internationally, adding PayPal as a payment option. Payments net transaction revenues earned internationally totaled $1.0 billion in 2008, $0.8 billion in 2007, and $0.5 billion in 2006, representing 44%, 42% and 38% of total Payments net transaction revenues, respectively. International growth in our Payments segment continues to benefit from the expansion of our geographical footprint, the increase in the number of currencies supported by PayPal and the increase in cross-border payments, which generate larger fees. This excerpt taken from the EBAY 10-Q filed Oct 23, 2008. Payments
Net Transaction Revenues
Payments net transaction revenues increased 29% and 32% during
the third quarter and first nine months of 2008 respectively,
compared to the same periods of the prior year. The increase in
net transaction revenues was consistent with our 28% and 32%
growth in TPV during the third quarter and first nine months of
2008, respectively, compared to the same periods of the prior
year. TPV increased due to growth in PayPal’s merchant
services business and continued penetration of eBay Marketplaces
transactions. However, TPV growth was negatively impacted by the
difficult global economic environment.
TPV for PayPal’s merchant services business was
approximately $7.5 billion and $21.4 billion in the
third quarter and first nine months of 2008, respectively, which
represented an increase of 49% and 56% compared to the same
periods of the prior year, respectively. PayPal’s merchant
services business accounted for approximately 51% and 49% of
PayPal’s TPV in the third quarter and first nine months of
2008, respectively, compared to 44% and 41% in the same periods
of the prior year, respectively. The increase in PayPal’s
merchant services business was primarily the result of more
online merchants, both domestically and internationally, adding
PayPal as a payment option, as well as increased usage of PayPal
by customers of our existing merchant services clients. Our
Payments net transaction revenues as a percentage of TPV was
3.9% for all periods presented.
Payments net transaction revenues earned internationally were
$256.6 million and $753.8 million during the third
quarter and first nine months of 2008, respectively, and
represented 45% and 44% of total Payments net transaction
revenues in the third quarter and first nine months of 2008,
respectively. Payments net transaction revenues earned
internationally were $191.1 million and $543.5 million
during the third quarter and first nine months of 2007,
respectively, and represented 43% and 42% of total Payments net
transaction revenues during those periods, respectively.
International growth in our Payments segment continues to
benefit from the expansion of our international operations and
the number of currencies supported by PayPal over the last
12 months. Based on changes in foreign currency rates year
over year, Payments net revenues were positively impacted by
foreign currency translation of approximately $0.9 million
and $4.6 million during the third quarter and first nine
months of 2008, respectively, as compared to net revenues that
would have been recorded had foreign currency rates remained
constant.
We expect our Payments net transaction revenues for the
remainder of 2008, compared to the same period in 2007, to
continue to grow based upon growth in our merchant services
business resulting from an increased number of merchants
integrating PayPal on their websites, continued penetration on
Marketplaces transactions and the expected completion of our
acquisition of Bill Me Later in the fourth quarter of 2008. Our
growth rate will continue to be impacted by the uncertain global
consumer spending environment.
This excerpt taken from the EBAY 10-Q filed Jul 24, 2008. Payments
Net Transaction Revenues
Payments net transaction revenues increased 34% during both the
second quarter and first six months of 2008, compared to the
same periods of the prior year. The increase in net transaction
revenues was consistent with our 35% and 34% growth in TPV
during the second quarter and first six months of 2008,
respectively, compared to the same periods of the prior year.
TPV increased due to growth in PayPal’s merchant services
business and continued penetration of eBay Marketplaces
transactions.
TPV for PayPal’s merchant services business was
approximately $7.3 billion and $13.9 billion in the
second quarter and first six months of 2008, respectively, which
represented an increase of 57% and 59% compared to the same
periods of the prior year, respectively. PayPal’s merchant
services business accounted for approximately 49% and 47% of
PayPal’s TPV in the second quarter and first six months of
2008, respectively. The increase in PayPal’s merchant
services business was primarily the result of more online
merchants, both domestically and internationally, adding PayPal
as a payment option, as well as increased usage of PayPal by
customers of our existing merchant services clients. Our
Payments net transaction revenues as a percentage of TPV was
3.9% during the second quarter and first six months of 2008 and
2007. TPV for PayPal’s merchant services business was
approximately $4.6 billion and $8.7 billion in the
second quarter and first six months of 2007, respectively, and
represented 42% and 40% of PayPal’s TPV, respectively.
Payments net transaction revenues earned internationally were
$255.7 million and $497.2 million during the second
quarter and first six months of 2008, respectively, and
represented 44% of total Payments net transaction revenues
during both periods. Payments net transaction revenues earned
internationally were $181.1 million and $352.5 million
during the second quarter and first six months of 2007,
respectively, and represented 42% and 41% of total Payments net
transaction revenues during those periods, respectively.
International growth in our Payments segment continues to
benefit from the expansion of our international operations and
the number of currencies supported by PayPal over the last
twelve months. Based on changes in foreign currency rates year
over year, Payments net revenues were positively impacted by
foreign currency translation of approximately $2.0 million
and $3.7 million during the second quarter and first six
months of 2008, respectively, as compared to net revenues that
would have been recorded had foreign currency rates remained
constant.
We expect our Payments net transaction revenues in 2008,
compared to 2007, to continue to grow based upon growth in our
merchant services business resulting from an increased number of
merchants integrating PayPal on their websites, as well as
continued penetration on Marketplaces transactions.
This excerpt taken from the EBAY 10-Q filed Apr 24, 2008. Payments
Net Transaction Revenues
Payments net transaction revenues increased 34% during the first
quarter of 2008 compared to the same period of the prior year.
The increase in net transaction revenues was consistent with our
34% growth in TPV during the first quarter of 2008 compared to
the same period of the prior year. TPV increased due to growth
in the Merchant Services business and continued penetration of
eBay Marketplaces transactions.
The TPV for PayPal’s Merchant Services transactions was
approximately $6.6 billion in the first quarter of 2008,
which represented an increase of 61% compared to the same period
of the prior year. The Merchant Services business represented
approximately 46% of PayPal’s TPV in the first quarter of
2008. The increase in Merchant Services business is primarily
the result of more online merchants, both domestically and
internationally, adding PayPal as a payment option, and
increased usage of PayPal by customers of our existing Merchant
Services clients. Our Payments net transaction revenues as a
percentage of TPV was 3.9% during each of the first quarters of
2008 and 2007. The TPV for PayPal’s Merchant Services
transactions was approximately $4.1 billion in the first
quarter of 2007 and represented 38% of PayPal’s TPV.
Payments net transaction revenues earned internationally were
$241.6 million during the first quarter of 2008 and
represented 43% of total Payments net transaction revenues
during that period. Payments net transaction revenues earned
internationally were $171.3 million during the first
quarter of 2007 and represented 41% of total Payments net
transaction revenues during that period. International growth in
our Payments segment continues to benefit from the expansion of
our geographical footprint and the number of currencies
supported by PayPal over the last twelve months. Based on
changes in foreign currency rates year over year, Payments net
revenues were positively impacted by foreign currency
translation of approximately $1.7 million during the first
quarter of 2008.
For the remainder of 2008, we expect Payments net transaction
revenues to increase in total and net transaction revenues
earned internationally to increase in total and as a percentage
of Payments net transaction revenues. We expect our Payments
Merchant Services business to continue to grow as the number of
merchants integrating PayPal on their websites increases and as
we build consumer preference for PayPal. In addition, we expect
that our Payments business will continue to benefit from growth
in GMV and higher levels of penetration on Marketplaces
transactions.
This excerpt taken from the EBAY 10-Q filed Apr 24, 2008. Payments
Net Transaction Revenues
Payments net transaction revenues increased 34% during the first
quarter of 2008 compared to the same period of the prior year.
The increase in net transaction revenues was consistent with our
34% growth in TPV during the first quarter of 2008 compared to
the same period of the prior year. TPV increased due to growth
in the Merchant Services business and continued penetration of
eBay Marketplaces transactions.
The TPV for PayPal’s Merchant Services transactions was
approximately $6.6 billion in the first quarter of 2008,
which represented an increase of 61% compared to the same period
of the prior year. The Merchant Services business represented
approximately 46% of PayPal’s TPV in the first quarter of
2008. The increase in Merchant Services business is primarily
the result of more online merchants, both domestically and
internationally, adding PayPal as a payment option, and
increased usage of PayPal by customers of our existing Merchant
Services clients. Our Payments net transaction revenues as a
percentage of TPV was 3.9% during each of the first quarters of
2008 and 2007. The TPV for PayPal’s Merchant Services
transactions was approximately $4.1 billion in the first
quarter of 2007 and represented 38% of PayPal’s TPV.
Payments net transaction revenues earned internationally were
$241.6 million during the first quarter of 2008 and
represented 43% of total Payments net transaction revenues
during that period. Payments net transaction revenues earned
internationally were $171.3 million during the first
quarter of 2007 and represented 41% of total Payments net
transaction revenues during that period. International growth in
our Payments segment continues to benefit from the expansion of
our geographical footprint and the number of currencies
supported by PayPal over the last twelve months. Based on
changes in foreign currency rates year over year, Payments net
revenues were positively impacted by foreign currency
translation of approximately $1.7 million during the first
quarter of 2008.
For the remainder of 2008, we expect Payments net transaction
revenues to increase in total and net transaction revenues
earned internationally to increase in total and as a percentage
of Payments net transaction revenues. We expect our Payments
Merchant Services business to continue to grow as the number of
merchants integrating PayPal on their websites increases and as
we build consumer preference for PayPal. In addition, we expect
that our Payments business will continue to benefit from growth
in GMV and higher levels of penetration on Marketplaces
transactions.
These excerpts taken from the EBAY 10-K filed Feb 29, 2008. Payments
Net Transaction Revenues
Payments net transaction revenues increased 31% and 40% in 2007
and 2006, respectively, which was consistent with our
year-over-year increase in net TPV of 33% and 37%,
respectively, in those periods. Payments net transaction
revenues have grown primarily as a result of growth in our
Merchant Services business and the increase in PayPal’s
penetration of eBay Marketplaces GMV. Payments net transaction
revenues continue to be
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derived primarily from eBay Marketplaces transactions using
PayPal. Our Merchant Services net TPV experienced 59%
year-over-year growth in 2007 and 2006, and represented 42% and
35% of PayPal’s net TPV in 2007 and 2006,
respectively. The increase in Merchant Services business
resulted from more online merchants, both domestically and
internationally, adding PayPal as a payment option. Our payments
net transaction revenues as a percentage of net TPV was
approximately 4% in each of 2007, 2006 and 2005.
Payments net transaction revenues earned internationally totaled
$778.3 million in 2007, $533.2 million in 2006, and
$364.5 million in 2005, respectively representing 42%, 38%
and 36% of total Payments net transaction revenues,
respectively. International growth in our Payments segment
continues to benefit from the expansion of our geographical
footprint, the increase in the number of currencies supported by
PayPal over the last twelve months and the increase in
cross-border payments, which generate larger fees. Based on
changes in foreign currency rates year-over-year, Payments net
revenues were positively impacted by foreign currency
translation of approximately $21.4 million,
$4.3 million and $5.3 million in 2007, 2006 and 2005,
respectively.
In 2008, we expect the Payments net transaction revenues to
increase in total and for net transaction revenues earned
internationally to increase in total and as a percentage of
Payments net transaction revenues. We expect continued growth in
our Merchant Services business as the number of merchants
integrating PayPal on their websites increases and as we build
consumer preference for PayPal. In addition, we expect our
Payments business to benefit from growth in Marketplaces GMV and
increased penetration of PayPal on eBay Marketplaces, each of
which may be impacted by, among other things, the factors
discussed above under “Financial Summary.”
Payments Net Transaction Revenues Payments net transaction revenues increased 31% and 40% in 2007 and 2006, respectively, which was consistent with our year-over-year increase in net TPV of 33% and 37%, respectively, in those periods. Payments net transaction revenues have grown primarily as a result of growth in our Merchant Services business and the increase in PayPal’s penetration of eBay Marketplaces GMV. Payments net transaction revenues continue to be
Table of Contentsderived primarily from eBay Marketplaces transactions using PayPal. Our Merchant Services net TPV experienced 59% year-over-year growth in 2007 and 2006, and represented 42% and 35% of PayPal’s net TPV in 2007 and 2006, respectively. The increase in Merchant Services business resulted from more online merchants, both domestically and internationally, adding PayPal as a payment option. Our payments net transaction revenues as a percentage of net TPV was approximately 4% in each of 2007, 2006 and 2005. Payments net transaction revenues earned internationally totaled $778.3 million in 2007, $533.2 million in 2006, and $364.5 million in 2005, respectively representing 42%, 38% and 36% of total Payments net transaction revenues, respectively. International growth in our Payments segment continues to benefit from the expansion of our geographical footprint, the increase in the number of currencies supported by PayPal over the last twelve months and the increase in cross-border payments, which generate larger fees. Based on changes in foreign currency rates year-over-year, Payments net revenues were positively impacted by foreign currency translation of approximately $21.4 million, $4.3 million and $5.3 million in 2007, 2006 and 2005, respectively. In 2008, we expect the Payments net transaction revenues to increase in total and for net transaction revenues earned internationally to increase in total and as a percentage of Payments net transaction revenues. We expect continued growth in our Merchant Services business as the number of merchants integrating PayPal on their websites increases and as we build consumer preference for PayPal. In addition, we expect our Payments business to benefit from growth in Marketplaces GMV and increased penetration of PayPal on eBay Marketplaces, each of which may be impacted by, among other things, the factors discussed above under “Financial Summary.” This excerpt taken from the EBAY 10-Q filed Oct 29, 2007. Payments
Net Transaction Revenues
Payments net transaction revenues increased 32% and 30% during
the third quarter and the first nine months of 2007,
respectively, compared to the same periods of the prior year.
The increase in net transaction revenue is consistent with our
34% and 32% growth in total payment volume during the third
quarter and first nine months of 2007, respectively, compared to
the same periods of the prior year. Payments net transaction
revenues are still primarily derived from PayPal’s
penetration of eBay Marketplaces transactions. Payments net
transaction revenues have grown largely as a result of the
increase in our eBay Marketplaces GMV during the third quarter
and first nine months of 2007 as compared to the same periods of
the prior year.
In addition, Payments net transaction revenue growth was due in
part to a 61% and 57% increase in total payment volume in
PayPal’s merchant services business during the third
quarter and first nine months of 2007, respectively, compared to
the same periods of the prior year. The increase in merchant
services business is the result of more online merchants, both
domestically and internationally, adding PayPal as a payment
option. The total payment volume for PayPal’s merchant
services transactions was approximately $5.4 billion and
$14.7 billion in the third quarter and the first nine
months of 2007, respectively, which represented 44% and 42% of
PayPal’s total payment volume, respectively. The total
payment volume for PayPal’s merchant services transactions
was approximately $3.3 billion and $9.4 billion in the
third quarter and the first nine months of 2006, which
represented 37% and 35% of PayPal’s total payment volume,
respectively. Our Payments net transaction revenues as a
percentage of total payment volume was 3.7% during each of the
third quarter and the first nine months of 2007 and 2006.
Payments net transaction revenues earned internationally were
$191.1 million and $543.5 million during the third
quarter and the first nine months of 2007, respectively,
representing 43% and 42% of total Payments net transaction
revenues during those periods. Payments net transaction revenues
earned internationally were $127.8 million and
$371.7 million during the third quarter and the first nine
months of 2006, respectively, representing 38% and 37% of total
Payments net transaction revenues during those periods.
International growth in our Payments segment continues to
benefit from the expansion of our geographical footprint and the
number of currencies supported by PayPal over the last twelve
months. Based on changes in foreign currency rates year over
year, Payments net revenues were positively impacted by foreign
currency translation of approximately $0.1 million and
$18.9 million during the third quarter and the first nine
months of 2007, respectively. Changes in foreign currency rates
will impact our operating results and, to the extent that the
U.S. dollar strengthens, our foreign currency denominated
net revenues will be negatively impacted.
For the remainder of 2007, we expect Payments net transaction
revenues to increase in total and net transaction revenues
earned internationally to increase in total and as a percentage
of Payments net transaction revenues. We expect Payments to grow
our merchant services business as the number of merchants
integrating PayPal on their websites increases and as we build
consumer preference for PayPal. In addition, we expect to
benefit from growth in Marketplaces GMV.
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This excerpt taken from the EBAY 10-Q filed Jul 27, 2007. Payments
Net Transaction Revenues
Payments net transaction revenues increased 31% and 29% during
the second quarter and the first six months of 2007,
respectively, compared to the same periods of the prior year.
The increase in net transaction revenue is consistent with our
32% and 31% growth in total payment volume during the second
quarter and first six months of 2007, respectively, compared to
the same periods of the prior year. Payments net transaction
revenues are still primarily derived from PayPal’s
penetration of eBay Marketplaces transactions. Payments net
transaction revenues have grown in connection with the increase
in our eBay Marketplaces GMV during the second quarter and first
six months of 2007 as compared to the same periods of the prior
year.
In addition, net transaction revenue growth was due to a 57% and
54% increase in total payment volume in PayPal’s merchant
services transactions during the second quarter and first six
months of 2007, respectively, compared to the same period of the
prior year. The increase in merchant services business is due to
more online merchants, both domestically and internationally,
adding PayPal as a payment option. The total payment volume for
PayPal’s merchant services transactions was approximately
$4.9 billion and $9.3 billion in the second quarter
and the first six months of 2007, respectively, which
represented 42% and 40% of PayPal’s total payment volume,
respectively. The total payment volume for PayPal’s
merchant services transactions was approximately
$3.1 billion and $6.0 billion in the second quarter
and the first six months of 2006, which represented 35% and 34%
of PayPal’s total payment volume, respectively. Our
Payments net transaction revenues as a percentage of total
payment volume was 3.7% during the second quarter and the first
six months of 2007 and 2006.
Payments net transaction revenues earned internationally were
$181.1 million and $352.4 million during the second
quarter and the first six months of 2007, respectively,
representing 42% and 41% of total Payments net transaction
revenues during those periods. This is compared to Payments net
transaction revenues earned internationally of
$125.2 million and $243.8 million during the second
quarter and the first six months of 2006, respectively,
representing 38% and 37% of total Payments net transaction
revenues during those periods. Growth in the international
business continues to benefit from our expansion of our
geographical footprint and expansion in the number of currencies
supported by PayPal over the last twelve months. Based on
changes in foreign currency rates year over year, Payments net
revenues were positively impacted by foreign currency
translation of approximately $8.8 million and
$18.8 million during the second quarter and the first six
months of 2007, respectively. Changes in foreign currency rates
will impact our operating results and, to the extent that the
U.S. dollar strengthens, our foreign currency denominated
net revenues will be negatively impacted.
For the remainder of 2007, we expect Payments net transaction
revenues to increase in total and net transaction revenues
earned internationally to increase in total and as a percentage
of Payments net transaction revenues. We expect to grow our
merchant services business as the number of merchants
integrating PayPal on their websites increases and we build
consumer preference for PayPal. In addition, we expect to
benefit from growth in Marketplaces GMV.
This excerpt taken from the EBAY 10-Q filed Apr 25, 2007. Payments
Net Transaction Revenues
Payments net transaction revenues increased 28% during the first
quarter of 2007 compared to the same period of the prior year
which is consistent with our 30% growth in total payment volume
year over year. The growth in Payments net transaction revenues
was positively affected by PayPal’s continued penetration
of eBay Marketplaces transactions. Further, Payments net
transaction revenues have grown in connection with the increase
in our eBay Marketplaces GMV during the first quarter of 2007 as
compared to the same period of the prior year.
In addition, net transaction revenue growth was due to a 51%
increase in total payment volume in PayPal’s merchant
services transactions during the first quarter of 2007 compared
to the same period of the prior year driven by increased
merchant use of our products. The total payment volume for
PayPal’s merchant services transactions was approximately
$4.4 billion in the first quarter of 2007, which
represented 39% of PayPal’s total payment volume. The total
payment volume for PayPal’s merchant services transactions
was approximately $2.9 billion in the first quarter of
2006, which represented 33% of PayPal’s total payment
volume. Our Payments net transaction revenues as a percentage of
total payment volume was 3.7% during the first quarter of 2007
and 2006.
Payments net transaction revenues earned internationally totaled
$171.3 million during the first quarter of 2007,
representing 41% of total Payments net transaction revenues
during that period. This is compared to Payments net transaction
revenues earned internationally of $118.6 million during
the first quarter of 2006, representing 36% of total Payments
net transaction revenues. Growth in the international business
continues to benefit from our expansion of our geographical
footprint and expansion in the number of currencies supported by
PayPal over the last twelve months. Based on changes in foreign
currency rates year over year, Payments net revenues were
positively impacted by foreign currency translation of
approximately $10.0 million during the first quarter of
2007. Changes in foreign currency rates will impact our
operating results and, to the extent that the U.S. dollar
strengthens, our foreign currency denominated net revenues will
be negatively impacted.
For the remainder of 2007, we expect Payments net transaction
revenues to increase in total and net transaction revenues
earned internationally to increase in total and as a percentage
of Payments net transaction revenues. We expect to grow our
merchant services business as the number of merchants
integrating PayPal on their websites increases and we build
consumer preference for PayPal. In addition, we expect to
continue to drive higher penetration rates on Marketplaces
platforms and benefit from growth in Marketplaces GMV.
This excerpt taken from the EBAY 10-K filed Feb 28, 2007. Payments
Net Transaction Revenues
Payments net transaction revenues increased 40% in 2006 and 47%
in 2005, compared to the respective prior year. Payments net
transaction revenues as a percentage of total net transaction
revenues were 24% in 2006, 23% in 2005, and 21% in 2004. During
2006, over $37.8 billion in total payment volume was
transacted on the PayPal platform as compared to
$27.5 billion during 2005 and $18.9 billion during
2004. As of December 31, 2006, PayPal had
133.0 million accounts, compared to 96.2 million at
December 31, 2005 and 63.8 million accounts at
December 31, 2004. Net transaction revenues as a percentage
of total payment volume was 4% in all years presented.
The growth in our Payments net transaction revenues, in all
years, both in absolute terms and as a percentage of total net
transaction revenues, was primarily the result of increases in
PayPal transaction volume driven by the growth in PayPal
Merchant Services transactions, the higher penetration of PayPal
in the Marketplaces platforms and growth in gross merchandise
volume in the Marketplaces segment.
In 2006, our global Merchant Services total payment volume
increased 59% compared to 2005, generating total payment volume
of $13.3 billion. In 2005, our global Merchant Services
total payment volume increased 48% compared to 2004, generating
total payment volume of $8.4 billion. Furthermore, the growth in
Payments net transactions revenues in 2006 was positively
affected by PayPal’s continued penetration of Marketplaces
transactions which increased to 57.2% in 2006 from 52.7% in 2005
and 46.7% in 2004. Payments net transaction revenues have grown
in connection with the increase in our Marketplaces gross
merchandise volume which increased to $52.5 billion in 2006
compared to $44.3 billion in 2005 and $34.2 billion in 2004.
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Net transaction revenues from Payments earned internationally
totaled $533.2 million in 2006, $364.5 million in 2005
and $207.6 million in 2004, representing 38.0%, 36.4% and
30.5% of total Payments segment net transaction revenues,
respectively. Payments net revenues were positively impacted by
foreign currency translation of approximately $4.3 million
and $5.3 million in 2006 and 2005, respectively. Changes in
foreign currency rates will impact our operating results and, to
the extent that the U.S. dollar strengthens, our foreign
currency denominated net revenues will be negatively impacted.
In 2007, we expect the Payments net transaction revenues to
increase in total and for net transaction revenues earned
internationally to increase in total and as a percentage of
Payments net transaction revenues. We expect to grow our
merchant service business and continue to drive higher
penetration rates on Marketplaces platforms. We also expect that
Payments net transaction revenues will increase as a percentage
of total net transaction revenues in 2007.
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