One of the main risks facing Paypal was its dependence on eBay for 60 per cent of its revenues. eBay has acquired a fast-growing business with analysts forecasting a 50 per cent earnings growth rate over three years(2003-06) albeit one with lower margins. It should now be able to increase its overall commission on transactions that include online payment, as well as brushing up Paypal's act and expanding abroad. This helps eBay address the sellers, threat from bilateral transactions between merchants and customers that cut out the middleman. In this case these made up the other 40 per cent of Paypal's revenues(Moules and Abrahams, 2002).