PayPal and Online payments noticed by The Economist Magazine

The Economist has noticed PayPal. See Economist.com | Online payments

“ONE of the most powerful forces in e-commerce is the “network effect”: the more people who flock to a particular website, the greater its appeal. The latest beneficiary of this phenomenon is PayPal, which now handles online payments at an annualised rate of more than $17 billion. PayPal is not a bank, but for online buyers and sellers it performs much the same function. It already has 45m account-holders worldwide, one-quarter of the number of the mighty Citigroup.”

We are hoping to use PayPal for Scottish Oil Club Bookings.

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