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Trend: PayPal Mobile Transactions Growing Exponentially
During the keynote at International CTIA Wireless 2011's Money Over Mobile pre-conference program, Fabio Sisinni, director of product management at PayPal Mobile, said, "We are doing more than $6 million per day in mobile transactions and we're on track to exceed $2 billion this year."
Per the story from Mobile Commerce Daily, PayPal's mobile payment transaction volume has grown from $24 million in 2008 to $140 million in 2009 to $750 million last year. It is projected to top $2 billion this year and is expected to reach $7.5 billion in 2013.
Last year, PayPal launched its Mobile Express Checkout product for merchants, which can integrate with a mobile platform enable mobile payments. So far, it is being used by merchants such as Starbucks, Footlocker and Overstock.com.
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