Mobile is happening and it is happening fast, PayPal is the latest company to take a serious step into the mobile industry with the release of there mobile payment service for e-commerce merchants. Two retail giants Nike and Buy.com have already implemented the new system into there mobile applications. Mobile Express Checkout is designed to provide a seamless payment experience for consumers shopping from their iPhones and Android devices, and PayPal says the service will be available to all online retailers by the fall.
In a post announcing the launch on the official PayPal blog, PayPal indicated that its mobile transactions have risen from $25 million in 2008 to $141 million in 2009 (Wow!), and it projects around $500 million in mobile transactions this year. As an industry, experts have predicted the mobile payment business to exceed $633 billion by 2014.
Shoppers need only enter their PayPal account logins when using Mobile Express Checkout, expediting the payment process by eliminating the need for reentering shipping or billing information.
This is great news since I’m in the process of having apps built for my major sites especially Mixtapes.tv, with Mobile Express Checkout I can take orders easily through mobile devices.