Mobile Will Let Shoppers Leave the Wallet at Home: eBay CEO

Thursday, 19 Jul 2012 | 11:36 AM ET
David Paul Morris | Bloomberg | Getty Images

Carrying around a wallet could be arcane in three years’ time, John Donahoe eBaypresident and CEO, told CNBC’s "Squawk on the Street" on Thursday.

“It’s very hard to underestimate the impact of the mobile revolution,” Donahoe said. “These devices are becoming the central control systems of our lives. That’s now bleeding into how people shop and how people pay.”

Donahoe said eBay’s acquisition of start-up card.io, a credit-card scanning company, “will help us drive the ubiquity of PayPal’s digital wallet.”

As Donahoe described it, consumers will be able to take a picture of their drivers license and all their credit and debit cards to automatically create a PayPal account.

eBay CEO on Mobile Play
John Donahoe, eBay president & CEO, discusses the company's earnings beat and explains how the PayPal unit is driving stronger-than-expected results, with CNBC's Jon Fortt.

“All those cards will be in your PayPal digital wallet in the cloud,” Donahoe said. Those cards can then be accessed “at any retail location through any mobile device in any setting."

On Wednesday, eBay posted second-quarter earningsexcluding items of 56 cents per share, up from 48 cents a share in the year-earlier period.

Revenue rose 23 percent to $3.4 billion from $2.76 billion a year ago.

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