Thursday, 28 May 2015

It took 17 years, but PayPal is finally becoming a mobile payments company


“In 1998, when Max Levchin was building what would become PayPal, he did it specifically for one device: the Palm Pilot. So it’s safe to say that the digital payments platform has envisioned itself as a mobile company from the very beginning.

But it took 17 years to actually become one.

Payments on the Palm Pilot were simply too far ahead of their time. PayPal took off, but it was on desktop computers. In 2010, mobile payments comprised less than 1% of the company’s transaction volume. By the first quarter of 2015, however, the figure had soared to 30%.”

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