Online person-to-person payments operator PayPal has announced that it has surpassed the 20 million account holder mark, double the number of registered members it had a year ago.
The company expects that, by mid-October 2002, more than $10 billion will have been sent by members through its network since launch of the service in October 1999.
David Sacks, COO, PayPal, says: "Balancing security and convenience for our members through rapid iteration of our core product has been vital to our success."
In the last year, the company has significant additions to its product line include billpay services, integrated shipping capabilities, and expanded functionality for international users