Paypal: Online Black Friday Payments Up 27 Percent

Paul Lilly

We noticed quite a few vendors getting a jump on Cyber Monday this year, posting Black Friday deals online. As a result, Paypal benefited from a 27 percent increase in total payment volume on Black Friday 2010 compared to one year ago, Yahoo News reports .

"The tough economy has made shoppers more price-conscious, and this year's Black Friday results show that they're going online to find the best deals," said Amanda Pires, senior director at Paypal. "With the convenience of shopping from a laptop or mobile phone, more people are choosing to avoid the long lines, parking chaos, and early morning rush in exchange for great online deals available from the comfort of their homes."

Not surprisingly, mobile shopping proved popular this year, too. Paypal noted a whopping 310 percent increase in overall mobile shopping compared to last year's Black Friday, while Ebay -- the online auction site that owns Paypal -- saw a 30 percent increase in mobile bidding.

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