30 November, 2016
PayPal Poised For Mobile Gains In Q4
PayPal saw strong mobile performance across all its customer accounts over the holiday weekend, according to a company blog post.
Through the full weekend, about one-third of the company’s payment volume came from mobile devices — a figure in line with PayPal’s pre-holiday predictions.
And on Cyber Monday in particular, the firm saw “double-digit” growth in mobile payment volume, though it didn’t provide exact figures. These figures point to rising ease in mobile purchasing, but issues continue to persist.
PayPal’s Thanksgiving weekend and Cyber Monday mobile stats could shed some light on the firm’s upcoming mobile performance. PayPal’s mobile volume has been rising across the board. In Q3 2016, the firm processed over $26 billion in mobile payments, representing 30% of the firm’s total volume. That’s up from $24 billion and 28% in the previous quarter. Some of that share likely comes from PayPal affiliates, like Venmo, Braintree, or Xoom. Regardless, strong holiday volume and growth numbers are a good indicator that PayPal is poised for ongoing mobile success.