PayPal has announced that they expect to process $3 billion in mobile payments this year, double their previous projections.
This is pretty impressive. Mobile payments are for real. They are processing $10 million in payments per day.
It's also striking that Square is now processing over $3 million per day despite having started much later than PayPal mobile.
A couple of caveats: the PayPal number is "Total Payments Volume", i.e. the amount of payments processed by PayPal; their revenue is a fraction of that. And as we understand it "mobile payments" include buying stuff online through your phone, and not just buying stuff offline with your phone, which is the big next opportunity.
It's still big numbers, though.
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See Also:
- Is Square Worth $2 Billion? Nobody Knows
- Larry Summers Joins The Board Of Mobile Payment Startup Square
- eBay Takes On Amazon Marketplace With Fulfillment Service
PayPal Is Processing $3 Billion In Mobile Payments This Year (EBAY)
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