Mobile phones allow consumers to have "a mall in their pocket;" eBay allows them to pay for the goods they buy, CEO John Donahoe told CNBC on Thursday.
A lot of people have been going to that "mall." Late Wednesday eBay reported first-quarter earnings above analyst expectations and 29 percent revenue growth driven by its PayPal and Marketplace businesses.
According to Donahoe, some consumers are not comfortable with entering their credit card information into a mobile device, so they are turning to products such as eBay’s PayPal payment service. With PayPal, consumers can pay for their purchases without sharing their specific credit card information with the vendor.