Rise in Mobile Payments Good Sign for APIs
27 Jun 2011Mobile is hot. Everyone is talking about thegrowth in mobile payments this year. Forrester Research predicted that mobile commerce will hit $6 billion in 2011 - and reach up to $31 billion by 2016. PayPal just raised their 2011 Mobile Total Payments Volume (TPV) projections to $3 billion. Paypal first predicted $1.5 billion in 2011 mobile payments volume, then in February, they upped that to $2 billion, and now they've adjusted to $3 billion. Paypal is running $10 million in mobile TPV a day, up from the $6 million they reported in March. It shows that mobile users are actively purchasing products and services online using sites and applications on their mobile devices. Just like with social media and cloud computing, APIs are a silent force behind the mobile revolution. APIs drive the applications and sites that mobile users are puting to use. The growth in mobile payments is a sign of the overall growth in the mobile market, as well as massive growth in API deployment to support the mobile demand.