New Mobile Express Checkout from PayPal allows paying on smartphones

According to the latest study from Juniper Research the numbers only reinforce this strategy- mobile payments are poised to reach $200 billion by 2012.

Thus, for instance, eBay sees mobile to be the future for e-commerce. Thus far the company wants to make PayPal the leader in the mobile payments space. In fact, PayPal’s mobile transactions have grown as smartphone usage has increased, from $25 million in 2008 to $141 million in 2009. This year PayPal expects more than half a billion dollars in mobile payment volume with more than 5 million members regularly using PayPal from their mobile devices.

As for today, Mobile Express Checkout, the mobile version of PayPal’s Express Checkout service, launch has made it easier for merchants and consumers to pay for goods on their smartphones via PayPal.

Merchant Express Checkout has been optimized for smartphone screens and also features strong fraud detection, says PayPal. Mobile Express Checkout is initially being rolled out on the iPhone and Android 2.0 (and higher) devices by a few retailers, including Nike and Buy.com, over the next few weeks.

In the nearest feature, the technology will eventually become available to all retailers. PayPal believes this new mobile technology has an opportunity to allow the company’s 85 million members to easily buy goods on their phones using PayPal’s technology versus inputing a credit card.