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Trend: PayPal Expects to Process $2 Billion in Mobile Payments this Year
During the earnings call this week, John Donahoe, eBay's chief executive talked about how PayPal is expected to process more than $2 billion in mobile payments this year, nearly three times the $750 million processed in 2010.
His optimism is fueled by the edge PayPal has regarding security and credit card info being entered on a mobile. According to a transcript of the earnings call from SeekingAlpha, Donahoe said payments on mobile devices have been held back by consumers' security concerns, especially concerns about entering card information. That is a non-issue for PayPal since entering that type of sensitive information isn't required.
PayPal's growth in mobile payments is paving the way for the processor to penetrate the physical point of sale for the first time, a fact the company has been referring to as a "blurring" of the traditional line between Internet and brick-and-mortar retailing. Agreements last year with mobile-payments provider Bling Nation and POS terminal maker VeriFone Systems Inc. have helped PayPal build bridges to physical merchants.
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Source: Fierce Mobile Content and DigitalTransactions.net
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