Nielsen rate online payment provider PayPal as number one

PayPal, the secure online payment provider has confirmed its position as the UK's most popular online payment service. Over 5m online shoppers visited PayPal's website during January 2008 according to the latest report by leading internet market research company, Nielsen Online. The findings firmly establish PayPal as the nation's favourite online payment solution.

The news from Nielsen Online comes at the same time as PayPal announces the milestone of reaching 20 million accounts in the UK, representing more than a third of the adult population.

Carl Olav Scheible, Managing Director of PayPal UK comments, "We are delighted to continue to be so popular in the Nielsen results at the same time as being able to announce a massive 20 million accounts in the UK. PayPal has worked hard to build a safe and easy payments service which lets consumers pay using the card or bank of their choice, without ever having to retype their financial information or share it with the retailer. Privacy, convenience and choice are what make PayPal such a popular way to pay."

Alex Burmaster, European Internet Analyst, at Nielsen Online comments, "PayPal continues to be by far and away number one. It has started 2008 by consolidating the lead it held throughout 2007 as the most popular financial website in the UK. PayPal had almost 5 times more unique users compared to the next online payment provider, despite new entrants in the market such as Google Checkout. "

In 2007, PayPal processed $47 billion of total payment volume globally. Over 100,000 websites accept PayPal today with many major brands signing up in just the last six months.

Cameron McLean, General Manager Merchant Services at PayPal comments on the new merchants: "For the fashion conscious shopper, New Look, BHS, JD Sports, Ted Baker and Goldsmiths Jewellers are just some of the renowned retailers that we now have on board and PayPal is delighted to be working with firms that are at the cutting edge of their markets."

"By partnering with PayPal these retailers all gain an additional way to accept payments online. And in turn their customers can benefit from a faster and more convenient shopping experience as well as the peace of mind of not sharing their financial details"

Outside of fashion, award winning low fares airline, flyMonarch.com joined forces with PayPal last year to be the first European airline to offer its customers the ability to pay for flights using their PayPal account.

Retailers see an incremental sales lift after adding PayPal to their sites as they can appeal to the millions of PayPal customers who voted PayPal the most preferred online payment brand in the UK.