The company expects PayPal’s revenue to reach $6 billion to $7 billion by 2013, PayPal President Scott Thompson said. Revenue in the unit was $3.4 billion in 2010.
PayPal, which is used by 59 percent of the top 100 online merchants in the United States and 40 percent in Britain, is on track to gain market share of up to 24 percent by 2013, executives said.
EBay investors are anxious to see stabilization and growth at the company’s marketplaces site, which represents the bulk of revenue — $5.7 billion in 2010.
PayPal mobile transactions are estimated to double to $2 billion in total payment volume this year, executives said. The company has already announced that mobile on marketplaces will double to $4 billion in gross merchandise volume this year.