Pay Pal is adding accounts at an accelerating rate. Did everyone forget that the rapidly growing Skype service now will have a Pay Pal wallet? Did everyone forget that international ebay sellers sign up for Pay Pal as soon as legallly permited by the laws of the country they are located in? Did everone forget that Pay Pal is expanding from 55 to 105 counties this year? Did everyone forget about the gateway business? Did everyone forget about the 105 million accounts that Pay Pal already has? Did everyone forget that Pay Pal has more accounts opened than American Express? Did everyone forget that Google has ZERO accounts as of now? Stop believing all the Google hype !
what market overreacted is paypal's growing rate not the accouts paypal already has. right now paypal is growing faster than ebay auction. If gbuy is taking market shares from paypal, it will slow down paypal's growth rate quite a bit. I think market's overreact to gbuy. Just my thought.