Global

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  • Type: Survey report
  • Date: 8/2/2011

The view from PayPal Mobile’s perspective 

PayPal Mobile’s perspective
How the Senior Director of PayPal Mobile sees the market shaping up – everybody is watching to see what the online payment providers will do.

“We have seen tremendous growth over the past few years: three years ago we did about US$25 million of payment volume via mobile. Two years ago that was US$141 million, last year was US$750 million, and this year we expect to do over US$3 billion.”

Laura Chambers, Director, PayPal Mobile

An interview with Laura Chambers, Director of PayPal Mobile

KPMG: When do you think it will be mainstream for consumers to pay via mobile?


Ms. Laura Chambers, PAYPAL: It’s mainstream already. We have seen tremendous growth over the past few years: three years ago we did about US$25 million of payment volume via mobile. Two years ago that was US$141 million, last year was US$750 million, and this year we expect to do over US$3 billion. That growth is coming from broader adoption in the consumer base, and it’s moving very quickly into a mainstream consumer audience doing mobile payments. Increasing smartphone penetration is one driver, but also people trying it out and becoming familiar and comfortable with the process.


KPMG: What do you think the market size might be five years from now?


PAYPAL: Mobile payments are addressing several different areas. The first we call remote payments, and is a substitute for existing eCommerce. We expect that mobile will command at least 10% of eCommerce payments. The second market is in the blurring of lines between online and offline payments, which mobile is driving. There’s an US$8 trillion market in offline payments that mobile payments is only just starting to tap into, and we see tremendous growth potential in that area.

 

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In a global online survey of nearly 1,000 executives this report explores opportunities and barriers to the adoption of mobile payments, and provides insight into the forces shaping the mobile payments market – today and in the future.