June 2, 2010 / 7:35 PM / in 8 years

EBay CEO says volume on iPhone app could triple

PALOS VERDES, California (Reuters) - eBay Inc Chief Executive John Donahoe said its application for Apple Inc’s iPhone has been downloaded 10 million times, and the company expects $1.5 billion to $2 billion in transactions to be conducted using the mobile application this year.

<p>A pedestrian walks at the headquarters of eBay in San Jose, California February 25, 2010. REUTERS/Robert Galbraith</p>

Donahoe said its iPhone app was responsible for $600 million in volume last year.

“The digital wallet is going to be a way that will facilitate e-commerce growth,” Donahoe said at the All Things Digital conference on Wednesday. He predicted that within two to three years most people would pay for items using their mobile phones instead of carrying a wallet in their pockets.

EBay is in the second year of a 3-year restructuring designed to revive its marketplaces unit, whose growth has paled in comparison with that of its Web payments unit PayPal.

It has rolled out mobile applications for popular devices like Apple Inc’s iPhone and iPad to spur shopping on the go, and is trying to make certain categories on its site, like fashion, easier to use and more visually appealing.

EBay said in March that 8 million people had downloaded its iPhone app.

Donahoe said that consumer adoption of the company’s new app for Apple’s iPad was also seeing a “tremendous pick up” by users, though he did not provide details.

Reporting by Alexei Oreskovic; Additional reporting by Alexandria Sage; Editing by Richard Chang

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