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Articles tagged with: payment system

PayPal Hits 100 Million Active Users

Paypal has just reached over 100 million active users. PayPal has been grabbing about 1 million active users each month, although the term ‘active’ was not defined by them, I would guess the term to mean any activity within the past 30 days, though PayPal could have meant past 6 months, or one year.

PayPal joined eBay on October 3rd of 2002 and now accounts for 30% of eBay’s total revenue. In the first quarter of 2011, PayPal earned $1 billion in revenue for eBay (these are profits taken from every PayPal transaction that occurs on eBay).

Visa’s NFC Coming This Fall

Visa is following through with its promise last week of a new mobile payment system. The company will be creating a mobile wallet that uses NFC wireless technology with the credit card’s firm payWave app to buy items in stores as well as online. Some of the banking institutions already onboard with near-fields communication technology include Barclaycard US, Pentagon Federal Credit Union, and US Bank, as well as most major Canadian banks.