PayPal Heightens Expectations For Mobile Payments

The good people at PayPal are so optimistic about the future of mobile payments that they’ve once again been forced to update their projections on the anticipated growth of the industry. As it now stands, PayPal says its 2011 mobile total payments volume will hit $3 billion, a full $1 billion more than the $2 …   Read More

1521 3
1521 3

The good people at PayPal are so optimistic about the future of mobile payments that they’ve once again been forced to update their projections on the anticipated growth of the industry.

As it now stands, PayPal says its 2011 mobile total payments volume will hit $3 billion, a full $1 billion more than the $2 billion range the company forecast just this past February.

On Thursday, PayPal Mobile senior director Laura Chambers turned to the official PayPal Blog to share the news.

“This is the third time we’ve had to update our mobile 2011 projections,” Chambers admits. “We first predicted $1.5 billion in 2011 mobile payments volume.”

“Mobile payments are growing at a rate we never could have imagined when we started processing them back in 2006,” she adds.

Overall, PayPal says it now sees up to $10 million in mobile TPV a day, which represents a significant jump from the $6 million the company reported only three months ago.

“While the rapid growth has been a (pleasant) surprise,” Chambers concluded, “we aren’t surprised that so many consumers and merchants are choosing PayPal Mobile. Consumers consistently report that they trust PayPal above all other brands; merchants are seeing sales of up to 37% when they use our mobile products; and developers consistently innovate through mobile partnerships with us. PayPal is simply about commerce – any time, anywhere, and any way that you want to do it.”

In this article

3 comments

  1. Philip Cohen

    eBay, Magento, AliExpress, Skype, Fish, FigCard, GSI Commerce, RedLaser, Where, Milo, Fetch, PayPal, Google, Schmoogle, whatever …

    The rusting old hulk eBay is presently being kept afloat by PreyPal so it’s good to see these boys recently squabbling and threats to the clunky PreyPal now coming thick and fast. It’s interesting times for all we eBay “haters” (oops, I mean “watchers”). I just hope that someone has remembered to bring the popcorn.

    All a merchant needs to know about the clunky PayPal, at: http://forums.auctionbytes.com/vbulletin/showthre

    What all buyers should know about the criminal activities of eBay, at: http://forums.auctionbytes.com/vbulletin/showthre

    Is that PayPal’s blood in the water, and are those “sharks” (oops, “banks”) I can see circling?

    Enron / eBay / PayPal / Donahoe: Dead Men Walking.

  2. PayPal Heightens Expectations For Mobile … – Mobile Marketing Watch | Mobile Marketing Online

    […] of mobile payments that they've once again been forced to update their projections on the. mobile marketing – Google Blog Search This entry was posted in Sms Marketing and tagged Expectations, Heightens, Marketing, Mobile, […]

  3. PayPal Heightens Expectations For Mobile … – Mobile Marketing Watch | Mobile Marketing Site

    […] of mobile payments that they've once again been forced to update their projections on the. mobile marketing – Google Blog Search This entry was posted in Mobile Marketing and tagged Expectations, Heightens, Marketing, Mobile, […]

Comments are closed.