After originally depending on online auction site eBay for any form of income, the online transaction company PayPal has shown that it will no longer depend heavily on the auction site. With alternative revenue streams like letting people fund their uk online casinos and mobile businesses, the company continues to impress outside of its original setup.

Earlier this week, President of PayPal, Scott Thompson, announced that by the end of 2008, the group would get most of their payment volumes from their Merchant Services rather than eBay transactions. Their Merchant Services include the software that PayPal provides to a number of big chains and brands, and this group may 49% of the previous years’ payment volumes.

It was only six years aog that eBay bought the PayPal company, but the company is well aware of its need to not depend heavily on a third-party site. “We’ve had organic growth with eBay, but as merchants migrated off the eBay platform (by building their own sites), they’ve brought us with them”, Thompson commented.

Despite increased competition from new organisations entering the market, like Google Checkout and Checkout by Amazon, PayPal posted a 33% rise in net revenue over the second quarter of last year, reaching $602 million.

PayPal expects international business to exceed that of its North American business by the second half of 2009, with PayPal mobile and ventures in China or Russia, along with online gambling casinos partnerships, set to continue the company’s impressive growth.