Tag: paypal

PayPal seeks to expand mobile commerce in Hong Kong

| February 28, 2013

Hong Kong PayPal mobile commerceMobile commerce growing in the East

PayPal has been making a strong push into the mobile commerce arena recently. The company has long been involved in the world of online payments, but the proliferation of mobile technology has opened up new forms of commerce that PayPal is eager to take advantage of. The company has announced plans to begin expanding its reach across the global mobile commerce market and has set its sights to the East, showing a strong interest in Hong Kong.

Hong Kong sees major activity in mobile commerce sector

Hong Kong is one of the largest economic hubs in the Asian market. Companies with a strong focus on the online world have seen major progress in Hong Kong over the years and companies native to the region have seen aggressive growth in the Philippines, Argentina, South Korea, Sweden, and Russia. PayPal’s Hong Kong division notes that more consumers are relying on their mobile devices to make payments and research products, giving the company an ample opportunity to provide services to these consumers and the businesses of the region.

PayPal expected to increase activity in Hong Kong

Kerry Wong, managing director for PayPal’s operations in Hong Kong, claims that businesses in the region that use the company’s services experienced more growth than their competitors. These companies grew more than the industry average throughout the last 12 months, and many of these businesses have helped increase the regions exports by 2% thanks to the borderless nature of online trading and sales. PayPal expects that companies using its services will continue to see remarkable growth as they begin to embrace mobile commerce more aggressively.

Estimated $20 billion in mobile payments to be processed in 2013

PayPal has high expectations when it comes to online payments in 2013. The company, which boasts of more than 123 million active users worldwide, estimates that it will process over $20 billion in mobile payments globally this year. This is higher than the $14 billion in mobile payments the company processed in 2012.

eBay sees major promise in mobile commerce

| February 15, 2013

ebay mobile commerceMobile commerce is paying off for eBay and PayPal

The world of commerce is changing and for some retailers that is bad news. For others, however, especially those with a strong online presence, mobile commerce is leading to a surge in business. eBay is one such company. The retailer has long boasted of one of the strongest Internet presences in its industry, making its transition into the mobile space very easy. Through the company’s PayPal subsidiary, it is seeing a major growth in business as more consumers begin to participate in mobile commerce.

Report shows PayPal handled more than $14 billion in payment volume in 2012

According to eBay, PayPal handled more than $14 billion in payment volume in 2012, triple the volume it had seen in 2011. A significant portion of this volume came from mobile purchases. eBay expects payment volume to reach $20 billion by the end of 2013, with growth being backed by the growing popularity of mobile commerce. PayPal is on track to catch up with eBay’s Marketplace business, which makes up the bulk of the company’s revenue.

eBay sees growth in its mobile application

Last year, eBay’s mobile application attracted 4.3 million new users, which accounted for $13 billion in merchandise revenue. These consumers have shown a strong interest in purchasing products from eBay using their mobile devices. Mobile commerce appeals to these consumers because they consider it more convenient than traditional forms of commerce. Being able to shop for products using a mobile device allows consumers to find exactly what they are looking for in a fast an efficient manner.

2013 may be a landmark year for mobile commerce

eBay has high hopes for mobile commerce in 2013. Through PayPal, eBay expects to continue establishing a very strong presence in this emerging sector. PayPal is currently developing a new platform to provide consumers with expansive mobile commerce services as well as introduce more security to mobile payments. The company already has a credit card reader than can be attached to any iOS device, which can facilitate mobile transactions.