PayPal Processing $315 Million In-Payments per Day

PayPal has announced some new public figures recently according to which the company’s payment platform is processing huge number of payments per day. According to PayPal, the company saw $3,650 in Total Payment Volume every second in 2nd quarter of 2011. This if calculated on daily basis suggests that PayPal is processing $315.3 million in payments in a day. PayPal further suggests that it is experiencing a gain of more than 5 million transactions per day.

The PayPal is no doubt a crown jewel of the parent eBay’s family of businesses. The last quarter happened to be the company’s first billion dollar quarter since its launch. Opposed to the last year figures for the same quarter, the total net payment volume (TPV) raised up by 34%. Also, PayPal is approaching eBay’s marketplaces section in view of revenue which generated $1.6 billion revenue in the second quarter.

The growth of PayPal is noticeable in another field as well – mobile. PayPal made an announcement earlier this year that its mobile transactions per day has hit $10 million and expecting that the numbers will reach over $3 billion for the current year relative to last year’s $750 million.

Keeping in view the $315 million, the rapidly developing Square (that also offers an in-store payments as well) enjoying $4 million in payments per day. PayPal also has plans to integrate in-store payment technology in their setup. It is for this reason PayPal is going to announce some big retail partnerships to acquire this technology in current year. Facebook- the social networking giant is another major source of revenue for PayPal. It would rather be interesting to observe what Facebook and eBay have up in their shelves.

As of 2010, the Total Payment Volume (TPV) of PayPal accounted for about 18% of the global e-commerce. PayPal has already shown some massive growth this year and it would be interesting to see the final figures for 2011 in terms of its global share.

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