eBay's Payments segment (including PayPal and BillMeLater) revenue was $971 million for the quarter, an increase of 22% year over year; $3,436 million for the year, an increase of 23%. Net total payment volume (TPV) for the quarter was $26.9 billion, an increase of 26% year over year; $91.9 billion for the year, an increase of 28%. In term of revenue mix, Merchant Services (the off-eBay business) represented 61.5% of TPV; international was 43.4% of TPV. The company processed 421.1 million transactions.
For the quarter, PayPal's revenue cut (now called its "global take rate") decreased slightly to 3.45%, along with a slightly lower transaction processing expense rate of 1.10% and a slightly lower transaction loss rate of 0.15%. Active accounts (defined as active in the last 12 months) reached 94.4 MM, up 16% year over year.
Bill Me Later's volume for the quarter was up and now stands at 1.7% of the total Payments segment TPV. Outstandings are now at $999 million, and net charges offs dropped to 6.1%.