LOUISVILLE, KY - At the Consumer Electronics Show in Las Vegas last week, John Donahoe, CEO of PayPal€™s parent company eBay Inc., said PayPal expects to realize $7 billion in mobile payments this year, Mobile Payments Today reports.
The figure is a hefty increase from the $4 billion in mobile payments the company processed last year and highlights the company€™s payments focus moving forward.
"Mobile plays a significant role in how eBay Inc. is enabling commerce and using technology to connect consumers and provide new ways for them to shop when, where and how they want," Donahoe said. "The success of eBay and PayPal mobile in 2011 surpassed our expectations and we€™re confident that this success will carry into 2012 as more shoppers turn to the convenience of shopping and paying via mobile at the moment shopping inspiration hits."
PayPal has more than 17 million customers making payments through its mobile payment app, more than double the eight million customers who were using the app in June of last year.