The news marks the fifth consecutive quarter of growth for the company, which has now managed to secure a global customer base of around 132 million. The growth will see profits soar for both PayPal and its main client eBay, with both businesses set to make USD 20 billion worth of mobile commerce throughout the rest of the year.

PayPal has been focussing on the expansion of its mobile business for quite some time now, recently launching its mobile POS solution “Cash for Registers” for small businesses in May. Merchant services at PayPal have seen a 29% increase since the launch, a number that has jumped up by 3% from the end of Q1.