Wednesday, November 30, 2011

eBay/ Paypal See More than Five Time Increase in Mobile Payments on Cyber Monday

PayPal, an eBay division which is the worldwide resource for internet payments and one of the frontrunners in mobile commerce, reported more than five and a half time increase in the total number of global mobile payments transactions on Cyber Monday of this year compared to the same day last year.

According to the data reported by PayPal, there was a 552 percent year over year increase in mobile payment volume while the number of consumers who made mobile transactions on Cyber Monday this year quadrupled.

The data reported by Paypal undeniably shows the increasing prominence of mobile commerce.

“Technology items continue to be the hottest trends when it comes to mobile purchases,” said Claudia Lombana, shopping specialist at PayPal, Palo Alto, CA. “We are still continuing to see technology and electronics as hot ticket items.”

The study also found that the global mobile payment volume on Cyber Monday was 17% higher as compared to Black Friday this year. The most prolific mobile shoppers on Cyber Monday were those from New York, Houston, Miami, Los Angeles, and Chicago; the same cities which were also reported to have the largest number of mobile payments on Black Friday.
eBay/ Paypal also reported that U.S. shoppers bought almost two and a half  times as many items through eBay Mobile on  Cyber Monday compared to last year. The five most popular categories on the online auction and shopping site ­– excluding vehicles – were Clothing, Shoes and Accessories, Computers and Networking, Consumer Electronics, Sporting Goods, and Jewelry and Watches.

As Lombana said, “Mobile is playing a big role on Cyber Monday, where people don’t have to lineup and deal with crowded stores.”  “Consumers were turning to their mobile devices because it’s convenient,” Ms. Lombana said. “Last year, on Dec. 12, we had our biggest day for mobile.

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