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PayPal: We're number one

PayPal is celebrating the creation of its 20 millionth UK account, it announced yesterday.

This represents around one third of the entire population - and cements PayPal's place as one of Britain's most widely-used finance firms.

The online payments provider - which uses customers' credit card details for internet shopping - also said that five million people visited its website in January.

PayPal's figures were obtained following research from Nielsen Online.

Managing director at the UK branch of the payments firm Carl Olav Scheible said: "We are delighted to continue to be so popular in the Nielsen results at the same time as being able to announce a massive 20 million accounts in the UK.

"PayPal has worked hard to build a safe and easy payments service which lets consumers pay using the card or bank of their choice, without ever having to retype their financial information or share it with the retailer."

Alex Burmaster at Nielsen added: "PayPal continues to be by far and away number one. It has started 2008 by consolidating the lead it held throughout 2007 as the most popular financial website in the UK."

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