eBay: We’ll Do $10 Billion in Mobile Transactions This Year – Mobile Marketing
Good article by Tim Green at Mobile Entertainment
Mobile shopping more than doubles in a year and pushes firm’s Q2 revenue to $3.4 billion
It’s all looking good for the world’s top online auction site – and mobile is playing a significant part.
Q2 Profit leapt to $692 million, up 144 per cent on Q1. In revenue terms, eBay’s core marketplaces business contributed $1.8 billion while its PayPal e-money unit brought in $1.4 billion.
But across each of these divisions the smartphone habit is coming into effect.
John Donahoe, eBay’s CEO, is predicting $10bn in mobile transaction volume this year, and said: “Mobile is becoming the digital nexus of consumers’ lives. They want what they want when they want it.”
Of course, eBay is preparing for the mobile revolution with more than just an optimization of its site and a few apps.
Via its PayPal division it has launched the card reading dongle PayPal Here and has just acquired Card.io, which uses the phone camera to scan card details.
PayPal is also working to bring mobile payments into physical stores via an app with QR code system. This is live in Home Depot, Abercrombie & Fitch and others in the US and is being trialled by the Aurora fashion group in the UK.