PayPal has raised its 2011 Mobile Total Payments Volume (TPV) projections to $3 billion. The online payments service had earlier this year predicted $1.5 billion and then $2 billion.
Writing on the company's blog, Laura Chambers, senior director, PayPal Mobile, says: "Mobile payments are growing at a rate we never could have imagined when we started processing them back in 2006 - in fact, this is the third time we’ve had to update our mobile 2011 projections. We first predicted $1.5 billion in 2011 mobile payments volume. At our analyst day in February, we upped that to $2 billion and just a few months later, we have now added another billion to that number."
"We’re thrilled by this news, and by other numbers we’ve seen climb in the past few months. We’re now seeing up to $10 million in mobile TPV a day - a big increase from the $6 million we reported in March. And we currently have eight million customers who are regularly making purchases on their mobile phones, up from a previously reported six million users," she adds.
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