PayPal to Reach $10 Billion in Mobile Payment Transactions for 2012

20 Jul 2012

The momentum of PayPal’s growth as a mobile payment platform is officially remarkable.

On Thursday, David Marcus, President of PayPal, posted on the official PayPal Blog that he anticipates the company to handle $10 billion in transacted mobile payment volume this year.

If you’re keeping score, that’s an increase of about 150 percent in just the last year.

“Over the past 14 years,” Marcus writes, “PayPal has grown into the leading online payment brand by delivering innovation to small businesses, giving them the tools to sell to anyone, anytime, anywhere. We’re excited to extend PayPal’s capabilities to mobile and offline retail, and help merchants continue growing and serving their customers in new and innovative ways.”

Marcus says that his company continues to make significant progress with new retail partners.

“Today,” he added, “we shared the news that two of our 15 new retail partners have quickly embraced PayPal. Abercrombie & Fitch beta-tested, and began rolling out PayPal point of sale to 900+ stores across the US in just over four weeks – in time for the critical Back-to-School shopping season and Jos. A. Bank began expanding its pilot in Q2 to a full national rollout of 566 stores.”

“Simple. Innovative. Easy. That’s what we aspire to deliver with every PayPal product and experience,” Marcus concluded. “I’m excited about our progress and momentum. And I can’t wait to see more merchants beginning to use PayPal offline, and PayPal becoming the way we pay, everywhere, every day.”