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HindustanTimes Sun,13 Jul 2014

EBay predicts mobile commerce growth in 2012

Reuters   February 28, 2012
First Published: 11:56 IST(28/2/2012) | Last Updated: 14:11 IST(28/2/2012)
EBay Inc forecast robust growth in its mobile commerce segment as the online commerce and auction site expects more people to shop and pay via smartphones.

The company has been making a particularly strong push in mobile commerce and developing new applications for its e-commerce platforms.

In 2012, eBay expects to do $8 billion in mobile commerce retail volume, and its electronic payments system PayPal expects to process $7 billion in mobile payment volume.

In 2011, eBay mobile commerce generated $5 billion in retail volume, and PayPal mobile generated $4 billion in payment volume.

In January eBay gave a conservative quarterly sales forecast despite unveiling better-than-expected results, warning that a weak European economy may take the gloss off rip-roaring growth in online commerce.

The company also announced a new partnership with carrier three.co.uk and strategic agreements with merchants such as Yotel and entradas.com.

EBay shares closed at $36.36 on Friday on the Nasdaq.

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