PayPal Says Mobile Payments to Hit $3 Billion
PayPal says it will process $3 billion in mobile-device payments this year, up from the company’s previous projection of $2 billion.
The online payments service, which is owned by eBay, had projected last fall that it would process $1.5 billion in 2011. It raised that projection by half a billion earlier this year before releasing the latest figure Thursday.
“Every week I look at the numbers, I get a sense of surprise,” said Laura Chambers, PayPal’s head of mobile. She says the increased mobile transactions are due to more smartphone adoption and familiarity with PayPal.
