Bloomberg News

EBay’s PayPal Plans to Offer Range of Payment Options

September 15, 2011

(Company corrects total volume forecast for 2011 in second- to-last paragraph of story published Sept. 14.)

Sept. 14 (Bloomberg) -- EBay Inc.’s PayPal service is adding features that give businesses more flexibility over how they sell wares and accept payments.

The changes, due in the coming months, include mobile payments, barcode scanning via handheld device, store inventory lookup and offers based on a person’s location, PayPal said today in a blog posting.

Improvements at PayPal are part of an effort by EBay Chief Executive Officer John Donahoe to accelerate growth and step up competition with Amazon.com Inc. in the e-commerce market. PayPal’s sales grew 31 percent last quarter, outpacing gains at the main commerce business for San Jose, California-based EBay.

“We gave merchants a sneak peek at PayPal’s new payment technologies that will help give their customers a much better shopping and buying experience through PayPal,” Scott Thompson, president of PayPal, wrote on the blog.

New services will let customers pay for a product with as little as a name and telephone number, Sam Shrauger, vice president of global product and experience at PayPal, said in an interview.

The new technologies will help boost PayPal’s volume of transactions in 2012 beyond the $100 billion it’s due to report this year, he said. The company had about $92 billion in payment volume in 2010.

EBay rose 74 cents to $30.14 at 4 p.m. New York time in Nasdaq Stock Market trading. It has gained 8.3 percent this year.

--Editors: Tom Giles, Nick Turner

To contact the reporter on this story: Danielle Kucera in New York at dkucera6@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net


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