Online payment company PayPal’s mobile payment transaction reached $4 billion in 2011, surpassing the company’s forecast for volume of $3.5 billion, said David Marcus, PayPal’s vice president of mobile.Just to put in figures in year 2010 paypal’s mobile transaction was worth $750 million and $141 million in year 2009. The shows an huge growth on mobile payments is the result of an overall increase in mobile commerce, combined with the availability of more useful mobile payment apps.
Paypal started this year predicting $1.5 Billion in mobile total payments for the year. An Executive revealed that as the year went Paypal upped its projection to $2 Billion in February then later $3 billion in June, and $3.5 billion in October.”Over the course of [2011] we raised our initial prediction by a total of $2 billion, and still managed to surpass our goal by a wide margin with a total of $4 billion,” a PayPal spokesman revealed.PayPal projects that its global mobile total payment volume (TPV) will be $7 billion in 2012.
