Recently, PayPal has announced significant increases in online spending, most notably in virtual currency. PayPal was started in 1998, and now generates $1 Billion dollars in quarterly revenue. This is partially due to a spike in online spending.
PayPal has estimated that over $1 Billion will be spent online on virtual goods and currency in the United States alone, with that number jumping up to $6 Billion Internationally. A large majority of these purchases will come from famous MMO’s, (Massively Multiplayer Online), websites such as Facebook, and subscriptions to services like that of XBOX Live.
Not only can virtual goods be purchased online through PayPal, but also physical items. There are a ton of websites that offer physical items that you can order and pay for online. These items are then shipped to your house without you ever having to leave your house.
PayPal has realized, and capitalized, on the demand for alternative methods of paying for goods online. This industry has been booming for the past few years, and is projected to grow even more over the next 5-10 years
