Correction: An earlier version of this story used information from the wrong quarter.
PayPal Inc. has received a strong early response for its new mobile-payment system, the company said April 18.
The eBay Inc. unit's revised mobile app, which allows merchants to accept card payments using an add-on reader or the phone's camera, has already attracted more than 200,000 merchants, John Donahoe, eBay's president and chief executive, said during an April 18 conference call. The company released the app last month (see story).
PayPal has also been testing a point of sale payment system with Home Depot and other retailers (see story).
PayPal recently selected a new president, David Marcus, to replace Scott Thompson, who left in January to head Yahoo Inc. (see story). Marcus, who became PayPal's president April 2, previously headed Zong, a mobile-payments company PayPal bought last year.
"David is a successful technology entrepreneur with a real passion for innovation, great products and consumer engagement," Donahoe said during the call. "He leads with a founder's perspective."
PayPal's first-quarter net revenue rose 32%, to $1.3 billion, in the first quarter from the same period a year earlier, driven by increased penetration on eBay and continued merchant and consumer adoption, eBay said.
PayPal ended the quarter with 109.8 million active registered accounts, up 12% from a year earlier. PayPal's net total payment volume grew 24% year over year to $34 billion, the company said.
What do you think about this? Send us your feedback. Click Here.
