Paypal’s profits increase 12.5%

Operating profits at the main Irish company of US-owned e-commerce firm Paypal increased last year by 12.5% to €4.7m, new figures show.

Accounts just returned to the Companies Office show that Paypal Europe Services Ltd increased its operating profits after revenues increased marginally from €91.7m to €92.1m in the 12 months to the end of December last.

Paypal is the market leader in secure online transactions.