In an article from USA Today, eBay’s CEO John Donahoe said his company expects to generate over $500 million in mobile-based application revenue in 2009.   Most of this revenue will come from the iPhone application, which has been downloaded more than 5 million times so far.

Donahoe also said mobile and Internet transactions will drive e-commerce from 5% of total retail sales to approximately 15-20% in five years.

To do their part in growing e-commerce eBay has opened up PayPal.  eBay is now allowing 3^rd parties to integrate with PayPal in the hopes that it will drive innovation, and eventually the new innovations will increase transactions.

The USA Today article notes Twitpay.me and ShopSavvy as two companies that have already taken advantage of PayPal’s new open technology strategy. 

• Twitpay.me allows users to tweet payments by linking their PayPal accounts to Twitter. 

• ShopSavvy allows consumers to compare products using an iPhone and Android handset.

It is good to see a company the size of eBay embracing the opening of technology.  This move will help eBay in the quickly evolving mobile payments industry. 

For a deeper look please visit the USA Today article below.

http://www.usatoday.com/tech/news/2009-12-15-ebay15_ST_N.htm?csp=34&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+UsatodaycomMoney-TopStories+%28Money+-+Top+Stories%29

www.biggu.com

https://twitpay.me/

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Name: Kent McNeil Title: Principal Company: DonRiver View Kent McNeil's Blog