According to data, local merchants running on the PayPal platform saw a 26% increase in 2013 over 2012 in online exports to the US market. Australia pushed volumes up by 48% in 2013, while the UK ranked third-biggest drove online exports by 38%.
Results show that Singapore merchants witnessed a growth in online exports from China, at 148% year-on-year. Hong Kong clocked a growing rate of 85%, followed by France at 63%, and Israel at 57% with Thailand rounding off at 54%.
Non-oil domestic exports from Singapore fell 0.6% in 2013, compared to the growing volumes for online exports. Cross-border transactions currently account for 25% of PayPal’s overall business.
In 2013, PayPal processed payments worth USD 180 billion worldwide, up 24% over 2012, and 15% of this volume was driven by mobile payments accounting for about USD 27 billion. There are over 143 million active PayPal users in 193 markets globally.
PayPal has more than 500,000 active users in Singapore, which make up the company’s over 10 million accounts in the Asia-Pacific region, including China, India, and Australia.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.