From left to right: PayPal President Dan Schulman, Luxembourg PM Xavier Bettel, eBay Inc. President & CEO John Donahoe

John Donahoe, President and CEO of eBay Inc. and Dan Schulman, President of PayPal, met with Luxembourg Prime Minister Xavier Bettel at eBay Inc. headquarters in San Jose last week. This was a great opportunity to provide the Prime Minister with a detailed overview of eBay Inc.’s business model and operations, and an update on our plans for the future - how eBay and PayPal are best positioned to lead in the changing global commerce and payments landscape.

The PayPal team provided an update on the newest trends and developments in the payments industry. For example, mobile commerce (or m-commerce) is growing at three times the rate of e-commerce. Between 2013 and 2016, the compound annual growth rate for m-commerce is projected at 42 percent versus 13 percent for e-commerce. PayPal alone processed $46 billion in mobile payment volume in 2014, up 68% over 2013. With 162 million active digital wallets and availability in 203 markets in more than 100 different currencies, PayPal is driving the innovations that help people and businesses thrive.

The Prime Minister also went on a tour of eBay’s Commerce Innovation Showcase to see first-hand how eBay and PayPal-enabled businesses in Luxembourg and around the world use Internet and mobile technology to help small and medium-sized businesses grow. Whether trying to create a frictionless consumer experience when engaging in transactions or a better buying experience overall, eBay Inc. understands that the future of commerce isn't just about transactions - it's about people and putting the power directly in the hands of customers.

Thank you to the Prime Minister and his team for their continued interest in eBay Inc. We look forward to continuing to work with them on issues of great importance to our consumers and merchants around the globe.