NEW YORK (TheStreet) -- PayPal  (PYPL - Get Report) announced yesterday that it is expanding its One Touch payments program to 13 new markets in Europe and Australia.

The One Touch program allows PayPal users who opt into the service to make a payment without reentering their billing and shipping information into websites and apps that support PayPal.

"With One Touch, we're bridging that gap and creating better buying experiences for consumers, which in turn means higher conversions for merchants," PayPal's senior vice president Bill Ready said in an email to Reuters.

The company, which processed 4 billion payments totaling $235 billion last year, said One Touch has led to upwards of 50% in improvements in conversion rates, Reuters reports. 

Separately, last month PayPal split from eBay  (EBAY), after eBay acquired the company in 2002. 

Based in San Jose, Calif., PayPal is a technology platform company, which enables digital and mobile payments on behalf of consumers and merchants around the world.

Shares of the company are higher by 1.01% to $33.03 in late afternoon trading on Wednesday. 

PYPL Chart PYPL data by YCharts