PayPal adds support for 10 more currencies

By Robert Jaques on Oct 16, 2006 10:07 AM
Filed under Finance

Money makes the world go round.

PayPal has added support for a further 10 currencies to its Internet payment system.

The latest currencies to be added are the Czech koruna, Danish krona, Hong Kong dollar, Hungarian forint, New Zealand dollar, Norwegian krona, Polish zloty, Singapore dollar, Swedish krona and Swiss franc.

The currencies add to the seven already available to PayPal customers, including US dollar, Australian dollar, euro, UK pound, Canadian dollar, Japanese yen and Chinese RMB.

PayPal also announced that residents in 48 countries can now use PayPal in their local markets to send money online. The new markets include Indonesia, the Philippines, Croatia, Fiji, Vietnam and Jordan.

"International expansion is a key part of PayPal's growth strategy," said Dana Stalder, senior vice president at PayPal.

The company claims 14 million accounts globally, and total transactions of US$8.9 billion in the second quarter of 2006.