PayPal has a sweet problem – it can’t forecast properly. First they predicted reaching $1.5 billion in 2011 mobile payments, only to up the number to $2 billion during the company’s analyst day in February. Now they’re saying the forecasts were wrong… for a billion. The e-payment company now predicts hitting the $3 billion milestone by the end of this year!
Apparently there are about 8 million customers who regularly make purchases on their mobile phones with PayPal, which is up from previously reported 6 million users.
The “official” blog post continues saying that customers love and trust PayPal above all other brands, with merchants seeing sales of up to 37% when they use PayPal mobile products. Developers on their end are continuing to innovate too, taking advantage of the PayPal API in their mobile apps and websites.
So what can we say? It’s good news both for PayPal and the overall mobile commerce. Hopefully more of you are jumping on board and using your phone as digital wallets of the 21st century.