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November 10, 2011

State of Mobile Payments: PayPal Processing $9000 Per Minute

ayPal and eBay have come out with new infographics today to show just how well the companies are doing in the mobile realm. It is really kind of ostentatious actually. PayPal specifically realizes that it has lost a lot of the consumer mindshare in mobile payments with everybody talking about how NFC may or may not change how payments fundamentally work.The Latest Infographic on EBay and PayPal shows PayPal is Processing $10,000 in Mobile Payments Per Minute 

During the Holiday season 2010 PayPal, the payments unit of online marketplace eBay Inc., says its mobile payment volume rose 300% between Nov. 15 and Dec. 15 compared with the same period last year. According to Internet Retailer For Dec. 18-19, mobile payments rose 279% compared with the period in 2009, PayPal says. And PayPal reports mobile payments rose 310% the day after Thanksgiving, also known as Black Friday, compared with Black Friday 2009.

Those figures put PayPal on track to reach $700 million in mobile payment volume for 2010, up from $141 million last year. That figure would top PayPal’s parent eBay’s total mobile sales of $600 million for last year, although eBay projects mobile sales volume of $1.5 billion in 2010.