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.

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