Shares of PayPal rise on 1st day of trading

This March 10, 2015 photo shows signage outside PayPal headquarters in San Jose, Calif. PayPal shares jumped in its first day as a separate and publicly traded company Monday, July 20, 2015, as it outlined plans to capitalize on the rise of mobile payments and the growing digitization of money. (AP Photo/Jeff Chiu) This March 10, 2015 photo shows signage outside PayPal headquarters in San Jose, Calif. PayPal shares jumped in its first day as a separate and publicly traded company Monday, July 20, 2015, as it outlined plans to capitalize on the rise of mobile payments and the growing digitization of money. (AP Photo/Jeff Chiu)

By Associated Press July 20, 2015 3 min read

NEW YORK (AP) – PayPal shares jumped in its first day as a separate and publicly traded company as the firm outlined plans to capitalize on the rise of mobile payments and the growing digitization of money.

The payments system company officially split with eBay Inc. on Friday, 10 months after they announced that they were going their separate ways.

PayPal processed $235 billion in total payment volume last year and logged revenue of about $8 billion. It plans to grow market share in mobile and online payments as well as expanding in areas like in-store payments.

Trading on the Nasdaq Stock Exchange under the stock ticker “PYPL,” shares jumped $2.08, or 5.4 percent, to $40.47 on Monday.

PayPal CEO Dan Schulman and employees rung in the opening bell on the Nasdaq, while the company gave out food via food trucks in Times Square and posted passersby’s photos on Nadsaq’s seven-story digital billboard to commemorate the listing.