PayPal has become quite some jewel in eBay’s crown and just so we don’t forget, the online auction giant is reminding us through a spanking new infographic detailing the record growth in mobile payments being handled by PayPal.
The infographic comes just in time for the Christmas holidays—period that despite the poor state of the economy, is expected to generate billions in online revenues for companies like eBay. According to the infographic, PayPal is now processing over $10,000 in mobile payments every minute or $600,000 mobile payments every hour.That is a staggering sum of payments to be processing and shows just how powerful PayPal has become. It’s also worth bearing in mind that PayPal is anticipating a drop-off in overall mobile payments market share with the introduction of Near Field Communication technology being developed for Android based mobile phones.
Despite these fears though, PayPal is predicting record number of payments in the coming years and the infographic points to an expected $3.5 billion volume in mobile payments for 2011. This volume is expected to double for 2012. Powering this record number of mobile payment volume is of course eBay and the prediction is that 2011 will be an even bigger year for the auction giant. eBay now even has its own version of a shopping calendar, with December 12, 2010 marking the company’s first ever ‘Mobile Sunday’.
Do you use PayPal to handle your mobile payments and is the service good? Share your experience with us using the comments below.
Source: http://www.sitetrail.com/2011/11/11/paypal-processes-600000-in-mobile-payments-per-hour/