| SAN FRANCISCO
SAN FRANCISCO Oct 17 eBay Inc Chief
Executive John Donahoe increased a key forecast for the
company's PayPal payments business during an Internet industry
conference on Monday.
Donahoe said total payment volume, or TPV, transmitted by
mobile devices through PayPal's system will be more than $3.5
billion in 2011, during a discussion on stage at the Web 2.0
Summit in San Francisco.
The CEO's previous forecast was for $3 billion in mobile
TPV at PayPal this year.
EBay is making a big push into mobile commerce, through
smartphone apps like Red Laser, which lets shoppers scan bar
codes to check prices online and at other retailers nearby.
PayPal is trying to transform itself from an online
payments business into a mobile payments service that works in
the offline world too.
Investors are watching for signs of progress in these areas
because they increase the size of eBay's potential market
Last week, Donahoe said eBay's main Marketplaces business
will process almost $5 billion of gross merchandise volume via
mobile devices this year. That was up from a previous estimate
of roughly $4 billion.