PayPal Seeing Extensive Growth
PayPal, the world's most popular online payments platform, came out this weekend with new, impressive numbers about the amount of payments it processes daily.
According to the company, it saw about $3,650 in Total Payment Volume (TPV) every second during the second quarter of 2011. That totals approximately $315.3 million a day, with upwards of 5 million transactions taking place in a 24-hour span.
To say that PayPal has been doing well as of late is an understatement; in fact, this year also saw its first billion-dollar revenue quarter and the company's net TPV has increased by 34 percent from the same time last year.
PayPal has also seen vast increases in its mobile transactions, with roughly $10 million being processed daily on mobile devices. Mobile TPV is estimated to exceed $3 billion this year; it was just $750 million last year.
In 2010, PayPal's TPV accounted for almost 18 percent of all global e-commerce. One can only assume it's going to be even higher this year.