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Tech Industry May Face H-1B Visa Shortage

PayPal Now Processing $315 Million In Payments Per Day

“All men by nature desire Knowledge.”

-Aristotle

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PayPal released some new public numbers recently that show the payments platform is processing a massive number of payments per day. PayPal says that it saw $3,650 in Total Payment Volume every second in Q2 2011. By our calculations, that means PayPal is processing around $315.3 million in payments per day. On average, the payments platform is seeing upwards of over 5 million transactions a day.

PayPal has unequivocally been the crown jewel in parent eBay’s family of businesses. This past quarter, PayPal delivered its first-ever billion dollar revenue quarter. Total net total payment volume (TPV) grew 34% compared to the same period of last year. And PayPal is actually closing in on eBay’s marketplaces segment in terms of revenue (which posted $1.6 billion in revenue in Q2).

Another area where PayPal is growing fast is mobile. The company said earlier this year that is seeing $10 million in mobile transactions per day, and expects more than $3 billion in mobile TPV this year, compared to $750 million in 2010.

To put the $315 million number in perspective, fast growing startup Square (which of course offers an in-store payments product) is seeing $4 million in payments per day. PayPal wants to also tackle in-store payments as well and will be debuting several retail partnerships for this technology this year. And Facebook is generating a fair amount of volume for PayPal as well. It should be interesting to see what eBay and Facebook have up their sleeves in a few weeks.

PayPal’s Total Payment Volume in 2010 represented nearly 18 percent of global e-commerce. With the way that the payments platform is growing, this number should increase in 2011.aggregated reviews. Starting out by dipping its toe into the daily deals vertical, B2Brev has aggregated over 2500 merchant reviews for daily deals sites, with 2000 from Groupon and LivingSocial alone.

The recession has dampened demand for H-1B visas as companies scale back headcounts, including overseas workers. But experts warn that a recovery within the next one or two years could see businesses--from bootstrapped social media startups to tech giants like IBM and Microsoft--competing with each other for the visas required to import skilled IT labor from abroad.

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HP's decision to anoint Meg Whitman as CEO seems odd for a company that makes most of its money from business technology. Former eBay chief Whitman is a relentless consumer brand-builder--but that's not what HP needs. The board instead should have looked east to IBM, which has a pool of divisional heads who are running highly profitable commercial IT units that are bigger than most companies.

Even before Leo Apotheker arrived from SAP, HP as an organization had concluded that its consumer offerings, mostly printers and PCs, were commodity products with deteriorating margins, and little potential for long-term growth. That's why, under previous CEO Mark Hurd, it invested $13.9 billion to acquire tech services giant EDS, spent $2.35 billion on data storage specialist 3Par, and dropped another $2.7 billion to buyout 3Com.

HP Should Have Looked Inside IBM For CEO

Google Video Prepares To Enter The Deadpool For Good

Looks like Google Tags wasn’t the only product on the chopping block today — now Google Video, the mostly-forgotten service that was once YouTube’s rival, is getting the axe too.