SAN JOSE, Calif.—Mobile payments have become a major part of all money moving through PayPal.
The company reported that mobile payments accounted for almost one-third of all money moving through PayPal in Q4, covering $31 billion worth of transactions, noted Mobile World Live.
Mobile represented 31% of PayPal's total transaction value for the quarter, with the $31 billion processed representing a 53% increase over the same period in 2015.
Among its busiest periods for the year were the days between Thanksgiving and Cyber Monday when the company processed more than $2 billion worth of mobile sales—one-third of the combined transaction value across all of its platforms during the five-day period, Mobile World Live reported.
PayPal CEO Dan Schulman said, “Mobile is redefining the face of retail and with the worldwide adoption of smartphones, consumers have all the power of a bank branch in the palm of their hand,” reported Mobile World Live, citing Schulman’s comments from PayPal’s quarterly results call.