PayPal to announce plans to work up a market

While other companies pressed by the crisis times fear to provide any forecasts for their prospects eBay is determined to announce more details on its business. On March 11, 2009 the chief executive of the company John Donohoe plans to outline the further scenario of its subsidiary PayPal for the current year.

Donohoe expects PayPal to become a larger business than the parent online auction site.

"We're going to give more visibility than we ever have on our sources of revenue, and our growth opportunities," says PayPal senior Vice-President Jack Stephenson. "The stock market doesn't properly value PayPal."

PayPal CEO Scott Thompson says: "We will grow the business this year. And in every market we're in, we will grow at a multiple of e-commerce."

In light of the peculiarities of the business model featuring PayPal observers say that there is a place for the company growth. While its share at the online payments market accounts for just 12% PayPal enjoys much popularity with consumers for its allowing cross-border transactions that involve multiple currencies and incompatible financial systems. The company also plans to introduce options to make charitable donations directly from PayPal and work with governments to provide them with channels for paying parking tickets and other transactions, as well as for paying monthly bills such as rent.

Additionally PayPal plans to enter the mobile payments market and in imitation of Apple’s iTune store PayPal wants to introduce a developer platform of its own to get software developers to create a variety of ways for consumers and businesses to use PayPal.