App analytics firm New Relic estimates PayPal (EBAY) accounts for a whopping 60% of web payment...

|By:, SA News Editor

App analytics firm New Relic estimates PayPal (EBAY) accounts for a whopping 60% of web payment transactions, more than 3x that of #2 processor Authorize.net. Google Checkout (GOOG) came in fifth place with a ~3% share. eBay's PayPal revenue rose 32% Y/Y in Q1 on the back of 24% volume growth. The company is hoping PayPal's offline and mobile payments initiatives will drive further growth.