Foreword

I’m often asked when I think mobile payments will “take off”... my answer is always that mobile payments has already taken off.

This is an exciting time to be part of the mobile payments business, and PayPal, as the industry leader, has seen tremendous growth in just the last few years. We’re expecting to see $3 billion in mobile payments volume in 2011, after $750 million in 2010, and we process over $10 million in mobile transactions each day.

What’s driving this growth? The exciting news is that there’s not just one factor. The penetration of smartphones, the innovation around features and use cases, the explosive growth of apps, and the fact that consumers are quickly becoming familiar with using their phones to shop and buy makes ...

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