Feb. 16 at 9:20 AM
$PYPL Börse Online: Around nine months after launching its payment function at German retail checkouts, PayPal has registered 7.6 million users to pay via its app. Product manager Alexander Bellabarba announced this at a conference in Frankfurt, according to the Handelsblatt newspaper. Germany is currently the only market where the US payment service offers this service.
Registration figures alone don't tell the whole story about actual usage. PayPal has not yet released transaction figures. Nevertheless, the number is remarkable – especially in a market that has long been considered a cash stronghold.
Technically, PayPal uses a virtual debit card based on Mastercard, which is stored in the app. This allows the company to leverage existing infrastructure and scale quickly.