eBay’s (EBAY) PayPal Expands to 10 New Countries
Shares of eBay Inc. (EBAY) were trading up +0.17 or +0.35 percent to $49.17 per share in pre-market trading on Tuesday, after the company announced yesterday that their PayPal unit was expanding into ten new countries including Nigeria. eBay stock closed at $49.00 per share, down -0.04 or -0.08 percent in Mondayâ s regular trading session.
San Jose, California based eBay Inc. was founded in 1995 as a consumer to consumer online marketplace. The company enables e-commerce through its three reportable segments: Enterprise, Payments and Marketplace. eBay has grown exponentially and is now a multi-billion dollar enterprise with operations in over 30 countries worldwide. The companyâ s PayPal division is responsible for more than half of the companyâ s revenue. The news released yesterday was that eBayâ s PayPal division was expanding coverage to ten new countries in Eastern Europe, sub Saharan Africa and Latin America. The ten nations include: Belarus, Cameroon, Ivory Coast, Macedonia, Moldova, Monaco, Montenegro, Nigeria, Paraguay and Zimbabwe. Nigeria, Africaâ s largest population with 60 million users, will be able to make payments through PayPal starting today. Customers in the ten nations with Internet access and an approved bank card will now be able to open PayPal accounts, bringing the total of countries serviced by the company to 203. Another 20 million users will have access to PayPal as the other markets get service availability later this week. PayPal will initially only offer the â
Published on Jun 17, 2014
By Jay Hawk