PayPal Inc.’s online payment service now accepts transactions in euros and pounds, improving the service for Europeans, PayPal said Tuesday.
Until now, PayPal only supported U.S. dollars. Users outside countries that have the dollar as currency would have to trade in dollars and deal with exchange rates, PayPal said. The multicurrency support offers Europeans a more convenient and less expensive way to send intra-country payments, the Mountain View, California, company said.
PayPal is working to add Australian dollars, Canadian dollars and Japanese yen to its service in the coming months, it said in a statement.
PayPal enables businesses and consumers to send and receive credit card and bank account payments via the Internet and e-mail. The company was acquired by Internet auction company eBay Inc. of San Jose, California, in June and is the main payment service for eBay.