PayPal Extends its Reach
"From a merchant's perspective this looks like any other MasterCard transaction," said Chris George, director of financial products for PayPal. "And it's just another PayPal purchase to the customer."Stored PayPal information makes the transaction faster and easier by automatically filling in the details needed to make the transaction. PayPal sees this as a way to decrease phishing by reducing the need for consumers to continually enter personal and financial information on websites they may not be familiar with. PayPal saw a 34 percent increase in overall transaction volume over the third quarter of 2007 - good for $12.22 billion.