PayPal Claims Almost 35 Million European Accounts

In a move that PayPal said reflects "high penetration rates" with shoppers in major European online markets, the EBay company on Wednesday said that it now has "nearly 35 million accounts in Europe."

PayPal cited a Forrester Research report saying that 23 percent of Euro online shoppers "prefer" paying with PayPal. Last year, PayPal processed $8.4 billion of total payment volume in Europe, the company said. PayPal has a local presence in 15 countries including Austria, Belgium, France, Germany, Italy, Spain, Ireland, the Netherlands, Poland, Switzerland and the UK.