Paypal’s mobile payment processed nearly $4b in 2011

Mobile payment, following with massive emergence of coupon dealing sites, is experiencing a booming time too. PayPal has reached a glorious result in the total mobile payments last year.

It is an unexpected difference from $750 million in 2010 to $4 billion amount of mobile payments in 2011. David Marcus (PayPal’s the Vice President) even further compared the figures to $141 million in 2009 at the Consumer Electronics Show.

He said to Venture Beat that they initially set the target at $1.5 billion but raised the projected figures to $2 billion in February, $3 billion in June, and $3.5 billion in October. Things, as seen better now, went surpassing the last projection until $4 billion.

PayPal is expanding its features to the area of mobile commerce. For example, it includes online coupons to attract more and more users to carry out mobile transactions through PayPal. Besides, some available mobile payments apps are combining online and offline capabilities which ease much payment procedures. More and more PayPal users opt for making purchase through mobile phone nowadays.

In July, Starbucks released a new mobile payment application in all U.S. stores for Blackberry and Apple iOS users. As a result, Starbucks customers are keener on using PayPal to top off their in-store credit through the respective app. Of course, the growth is partially contributed from increasing iPad and tablet markets as well.

Not only Starbucks, but also Pizza Express, Yorder and Fandango have cooperation with PayPal to continue enhancing the convenience of online shopping for their own users. The most recent development is regarding PayPal will partner with Home Depot and also some big box retailers such as AJB Software. It will become part of the point-of-sale transaction method, either through a pin code or PayPal card.

At CES (11th January 2012), John Donahoe as the Chief Executive Officer of eBay corporation informed that PayPal hopefully will be able to achieve $7 billion in mobile payment business. It will be the coming seamless generation of commercial world.

“Join the mobile movement today with PayPal. Be sure to also visit the eBay Ink Blog for the latest mobile numbers from eBay,” wrote by David Marcus in the official PayPal blog.