Paypal: online commerce to reach $30b by the new year

Online payment system PayPal has forecasted local online commerce will reach $30bn by the end of the year, according to its Secure Insights report.

The forecast comes as eBay predicts this week to be the busiest ever in online shopping and Australia Post will shift an extra 3m parcels this December.

Elena Wise, acting MD of PayPal Australia said: “Over the last year, online commerce in Australia has grown at a rate of 11% and a huge number of Australian and international retailers have opened their virtual store doors to Australians. This year, consumers will be shopping across a mix of retail channels, from their PCs, to their mobiles to in-store. Wherever they are shopping, consumers are looking for flexibility, convenience and security.”

In preparation for Christmas, the week will be eBay’s busiest with the spending spree culminating in 1.6m Australians visiting eBay.com.au on Sunday 11 December.

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