Remember when eBay and Paypal were new novelties? When you first coaxed your parents into setting up an account to buy you a Randy Moss rookie card for $5? Just me?
Well, those companies have been around for a while, and as you can imagine, when they stay around long enough, the attire around the office goes from wrinkled tees to starched white collars. Some new financial figures released by Paypal prove just how serious the business is around those parts.
With control of 18 percent of the global e-commerce, Paypal estimates that they handle $315 million every day, at a rate of $3,650 in total pay volume every second. With numbers that big, it should come to no surprise that the FBI has made a string of statement arrests against suspects of the Paypal hacking.
As the market for buying online continues to expand, especially in the mobile segment, it's not difficult to imagine that Paypal will be handling half-of-a-billion dollars in transactions every day within the next two years.
Suffice it to say, that 3 percent cut was a wise decision indeed.
[via Tech Crunch]
