Riding on the Smartphone wave and speculating on the predictions that mobile payments would reach $200 billion by 2012, Paypal - the world's leading payment gateway - has launched a Mobile commerce service called 'Mobile Express Checkout'. This service is the mobile version of existing 'Express checkout' service. This service is targetted towards 'On-the-go' Mobile customers and allows them to make mobile purchases quickly and safely.
Bill Zielke, Senior director of Merchant services team commented on paypal's mobile commerce numbers, " We expect to close out 2010 with more than half a billion dollars in mobile payment volume and more than five million members regularly using PayPal from their mobile devices." He also observed that paypal's mobile transactions has risen six-fold from $25 million in 2008 to $141 million in 2009!
Mobile Express Checkout would be initially rolled out to Android 2.0 and iPhone Phones. The 'Express checkout' is very popular among users because the service remembers the users details and the user does not have to reenter the billing and shipping details all over again for every transaction.
Reference: Paypal official blog
Mobile Express Checkout Developer Resources
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