Massive PayPal user and mobile payments growth
PayPal has been on fire lately with impressive growth in their active user base and mobile payments processing.
This week PayPal confirmed that they’ve reached 100 million active users. That’s a lot of people and businesses capable of purchasing from merchants using the PayPal X Platform! And it comes on the heels of last week’s news that PayPal was doubling their mobile “Total Payments Volume” (TPV) prediction to $3 billion USD for calendar year 2011.
- Forrester Research predicts mobile commerce will hit $6 billion in 2011 and approach $31 billion by 2016 with an annual compound growth rate of 39% during that period.
- PayPal’s mobile TPV grew from the neighborhood of $6 million USD per day in March to up to $10 million USD daily in June.
- PayPal currently has 8 million customers “regularly making purchases” on their mobile phones.
- PayPal grew 23% in the first quarter of 2011, accounting for $992 million USD, or almost 40%, of eBay’s revenue.
Click here to read the complete post on the PayPal X Developer Network including a discussion of what these stats mean to you as a merchant and/or developer.