eBay Inc. reported its second quarter results earlier this evening. We’ll take a look at those in greater detail in the morning. But it’s no surprise that the star of the show, in generally strong results that exceeded expectations, as in most recent quarters, is PayPal.
PayPal revealed that in 2012 the total payments volume (TPV) they expect to see is $10bn. That’s a 150% increase on 2011. It’s a staggering sum and testament to the explosive growth that has been apparent in mobile and tablet commerce in the past 18 months or so.
In a post on the PayPal blog, David Marcus the President of PayPal attributed this “PayPal momentum” to two major strategic initiatives: “We’re delivering on our vision of anytime, anywhere, any way payments, and driving innovation, momentum and engagement with consumers, small business and large retailers.”
The thing that’s notable is that the eBay marketplaces are not cited anywhere in this statement at all. The cuckoo PayPal has ambitions that stretch very far beyond the eBay marketplace nest.