A new report from Tech Crunch states that PayPal has released some figures which represent the usage of payments platform every day. Interestingly, these figures show that a massive number of payments are being made through PayPal every day. According to PayPal, in the second quarter this year, a total payment of $3,650 was seen in every second.
Tech Crunch calculated the total figure based on the above facts and the result was $315.3 million in payments per day is being processed by PayPal. After calculating the average we found out that 5 million transactions are increasing every day on PayPal.
Well, as many of you are aware that PayPal plays a very important role by easing the day to day transactions with eBay. Just this past quarter, it was recorded to be PayPal’s first ever billion dollar revenue quarter. In just one year, PayPal’s net total payment volume grew 34%.
We cannot leave the mobile, also where PayPal is getting so much popular now days. Earlier this year, PayPal announced that they are processing $10 million worth of payments per day only in mobile transactions and they are expecting even more than $3 billion in mobile total payment volume this year, as it was only $750 million in 2010.
Well, to put the massive $315 million figure in perspective, we can see that startup Square is growing very fast and is now seeing $4 million worth of payments every day. PayPal has plans to control the in store payments as well and it is going to introduce many retail partnerships for this technology in the coming year. Well, on the other hand, Facebook is also responsible for generating a fair amount of transaction volume for PayPal and we are expecting to see what eBay and Facebook have more to offer in a few weeks.
In 2010, TPV of PayPal was responsible for 18% of worldwide e commerce and as you can see that it is growing by day, so we can expect these numbers will increase in 2011 as well.
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Category: IT Industry