Payment processor PayPal keeps raising estimates for its mobile payment business. At this week's Consumer Electronics Show in Las Vegas, Nev., John Donahoe, CEO of PayPal's parent company eBay Inc., said PayPal expects to see $7 billion in mobile payment volume this year. It's not quite the fivefold increase in mobile payment volume the company saw last year, but it's still a healthy increase from the $4 billion in mobile payments the company processed in 2011.

Donahoe said mobile will continue to play a big part of the company's plans.

 "Mobile plays a significant role in how eBay Inc. is enabling commerce and using technology to connect consumers and provide new ways for them to shop when, where and how they want," Donahoe said at CES. "The success of eBay and PayPal mobile in 2011 surpassed our expectations and we’re confident that this success will carry into 2012 as more shoppers turn to the convenience of shopping and paying via mobile at the moment shopping inspiration hits."

On the PayPal blog, David Marcus, PayPal's VP of mobile said the company has more than 17 million customers regularly making purchases through the company's mobile app. That's up from the eight million customers the company reported in June, Marcus said.

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