Powered by over 56m downloads of its mobile app.
Online marketplace eBay claims the milestone will be hit by the close of the year as a result of m-commerce becoming more popular among consumers.
At the Open Mobile Summit, eBay CEO John Donahoe said eBay will hit over $5 billion in m-commerce, while subsidiary PayPal will process more than $3.5 billion in mobile payments in 2011.
This achievement will be powered by the 56 million app downloads on Android, iOS, WinPho and BlackBerry.
Donahoe, said: "We are seeing profound change in how consumers are behaving and will behave. We believe we are at an inflection point."
He went on to say that mobile is another screen in the shopping experience and that consumers are returning to shop more thanks to the flexibility of m-commerce, which is driving consumer engagement.
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The firm recently announced plans to add image recognition technology to its apps before 2012. This unearthed stats to show three eBay m-commerce purchases are made every second and sellers list over 700,000 new items per week using mobile phones.
While many firms use social media, Donahoe mentioned his thoughts on the medium, saying: "We work a lot with Facebook. But no one knows how consumers will behave... different consumers will respond in different ways."
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