PayPal Reaches Landmark Limit With $315 Million Payments Per Day
Paypal is an online payment & money transfer service that everyone is familiar with. This allows you to transfer money through emails, Skype and now even by text messages. Recent figures released by the firm shows the level of involvement of this group on the daily life of people. The company saw almost $3700 in payment volume every second in 2nd quarter this year. When calculated it roughly comes out to be $315 million per day and when calculated on a large basis the numbers are simply awesome.
![[IMG]](proxy.php?image=http%3A%2F%2Fwww.crazyengineers.com%2Fwp-content%2Fuploads%2F2011%2F09%2FPaypal.png&hash=7540773e2a372e763fc04792ba95b850)
Paypal has always been the worldwide leader in the field of online transaction. Since its launch on 12 January 1998 it has been a front runner and is mostly preferred by people. The past quarter has been recorded as its first ever billion dollar revenue quarter. The total payment volume TPV grew by 34% as compared to the last year’s figures.
Paypal is now also getting deeply involved in the mobile world. The company oversees almost $10 million transaction everyday and it is expected that this number will increase in the coming time. Apart from this almost $3 billion in mobile TPV is expected as compared to 4750 million in 2010. With increasing competition like from a startup called square which offer an in-store payment product, users now have many options to select from. Paypal is also trying to tackle the in-store payment as well and will starting it this year. With giants like facebook and e bay by its side pay pal certainly has got better chances to shine even more brightly.
PayPal’s Total Payment Volume in 2010 represented nearly 18 percent of global e-commerce. With the way that the payments platform is growing, this number should increase in 2011.
Source: PayPal Now Processing $315 Million In Payments Per Day • TechCrunch
Paypal has always been the worldwide leader in the field of online transaction. Since its launch on 12 January 1998 it has been a front runner and is mostly preferred by people. The past quarter has been recorded as its first ever billion dollar revenue quarter. The total payment volume TPV grew by 34% as compared to the last year’s figures.
Paypal is now also getting deeply involved in the mobile world. The company oversees almost $10 million transaction everyday and it is expected that this number will increase in the coming time. Apart from this almost $3 billion in mobile TPV is expected as compared to 4750 million in 2010. With increasing competition like from a startup called square which offer an in-store payment product, users now have many options to select from. Paypal is also trying to tackle the in-store payment as well and will starting it this year. With giants like facebook and e bay by its side pay pal certainly has got better chances to shine even more brightly.
PayPal’s Total Payment Volume in 2010 represented nearly 18 percent of global e-commerce. With the way that the payments platform is growing, this number should increase in 2011.
Source: PayPal Now Processing $315 Million In Payments Per Day • TechCrunch
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