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Mobile Payments

PayPal expects to process USD 2 billion in m-payments in 2011

Monday 2 May 2011 | 09:56 AM CET

PayPal is allegedly expected to process USD 2 billion in mobile payments in 2011, media outlet treocentral.com reports.

According to the source, eBay's chief executive John Donahoe discussed during the Q1 2011 earnings call about how PayPal is expected to process over USD 2 billion in mobile payments by the end of 2011, nearly three times the USD 750 million processed in 2010.

Recent financial results have revealed that PayPal, the online payments division of eBay, has witnessed a 16 percent year-over-year growth in the number of active registered accounts, reaching 97.7 million in Q1 2011.

In recent and related news , eBay’s PayPal unit has acquired mobile payments startup FigCard, according to the PayPal blog. In a post signed by Peter Chu, senior director of PayPal Mobile, the company has announced that PayPal has acquired Fig Card and has appointed two new members to the PayPal Mobile team, namely Max Metral and Hasty Granbery, founders of FigCard.

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