PayPal parent eBay announced on its earning call last week that the payments behemoth processed $14 billion of mobile payments, a 250 per cent increase over the year before.
Mobile payments continue to outperform expectations and grow on an exponential trajectory.
In 2011, for example, PayPal initially predicted $1.5 billion in mobile payment volume for the year before raising projections to $3 billion in June of that year. They ultimately processed $4 billion in mobile payments.
At the beginning of last year, eBay CEO John Donahoe said that PayPal expected to handle $7 billion in mobile transactions, only to announce the $14 billion figure in the last earnings call Jan. 16.
eBay now expects PayPal to process $20 billion in mobile payments this year, but we think they’ll continue to beat their own prognostications.
For context, mobile now represents 10 per cent of total PayPal payment volume, up from 3 per cent a year ago.
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