PayPal Says Mobile Payments to Hit $3 Billion

Published on June 24, 2011
by Stu Woo

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.

Read the rest of this post on the original site

Return to: PayPal Says Mobile Payments to Hit $3 Billion