PayPal reports that it saw a record-breaking $1B mobile payment volume for the first time ever, on Black Friday. More surprisingly, it was a landmark which was hit again in a matter of days, on Cyber Monday. The company reports that the Mobile payment volume on Black Friday was up 42 percent over Black Friday 2017. similarly, the total payment volume was up by 43% on Cyber Monday.
Between these two days, PayPal has processed more than $25,000 per second, with more than $11,000 per second processed on mobile.
However, it’s not only the purchasing that had a rise. On giving Tuesday, almost $ 98M were given in donations by different organizations, which is a 51% increase from last year, positively.
Another trend has been pointed out by PayPal the deals continuing for a week or even more, to cash on to the momentum gained by the events. For example, Amazon and Samsung have introduced “12 days of deals” to continue their deals till winter holidays.
According to Paypal, Thanksgiving has now become another major shopping day, having broken into the top 10 shopping days of the year. It also grew 41 percent over last year. One thing to mention is that the peak hour took place on Black Friday, which shows that the sales event has shifted much of its business online successfully and made $1B mobile payment volume.