PayPal: Million Brits Make Mobile Payments

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PayPal has announced that one million Brits have made a payment through PayPal on their mobile phones.

The rise in the use of PayPal for mobile payments has largely been due to the increased availability of smartphones, along with their dedicated apps forĀ iPhone and Android, and this is likely to continue to grow at a brisk pace as smartphones get ever cheaper.

PayPal also announced some other new stats:

  • 2010 transactions will be around 30 times what they were in 2008
  • Global volumes will be over US$700 million in 2010
  • The UK has seen a 20% month on month growth in July and August in mobile transactions
  • PayPal UK customers also make an average of around 5 mobile transactions per month

It’s another sign of the growing dependence on mobiles for money transactions, and the march towards our phones replacing our wallets.

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