eBay Expects Mobile Volume to Hit $10bn in 2012

Online auction giant eBay says it expects its volume of mobile sales to hit $10bn (£6.4bn) by the end of the year. Revenue for Q2, 2012 increased 23 per cent to $3.4bn (£2.2bn), compared to the same period of 2011.

"Mobile continues to be a game changer," says eBay president and chief executive John Donahoe. "We now expect eBay and PayPal mobile to each transact $10bn in volume in 2012 - that's more than double 2011, a staggering surge in mobile shopping and payments on devices that did not exist just a few years ago. Retail is at an inflection point, and we are helping to reshape how people around the world shop and pay."

In addition to buying card.io yesterday, eBay's PayPal division rolled-out its point of sale system this quarter, giving shoppers the chance to pay using their mobile phone number or PayPal payment card and PIN in Abercrombie & Fitch and Jos. A. Bank stores in the US.