Nov. 28, 2012
PayPal announced the final numbers for Cyber Monday, the unofficial start to the online portion of the shopping season, and as expected, the numbers are massive.
Overall, PayPal said it saw a 190 percent increase in global mobile payment volume on this Cyber Monday compared with last year's. Additionally, the number of customers shopping with a mobile device, including both smartphones and tablets, rose 166 percent versus Cyber Monday 2011.
"We all know that Cyber Monday is one of the top days for online shopping and that Mondays in general are traditionally the most popular day for online shopping," said Claudia Lombana, PayPal's shopping specialist, in a company blog post, "but as more consumers access the web through their mobile phones and devices, PayPal really saw mobile commerce spike on this key online shopping day."
Among other insights PayPal, said the biggest hour for online shopping was from 1:00 p.m. to 2:00 p.m. PST. And Houston, Texas topped the list for most purchases made through PayPal.
PayPal's findings were backed up by online payment processor Braintree, though not to quite the same levels. Braintree processes payments for 50 of the top 500 e-commerce companies, including a number of hot e-commerce startups such as Living Social and Fab.
According to Braintree, it saw a 50 percent increase in consumer use of mobile phones to make purchases. The company said that mobile payments increased to 29 percent of all online purchases it processed.
Braintree said mobile volume has more than tripled from last year, with mobile making up about $1.5 billion annually in payments.
Read more about multichannel retail.