Tag: mobile payments paypal

Mobile payments is preparing for a powerful new push from PayPal

The new chief at the company is promising that upcoming offerings will have a highly smartphone friendly focus.

Most of the headlines regarding PayPal at the moment have to do with its upcoming split from eBay, but now that the new chief exec is settling into place, promises are being made to broaden the online and mobile payments offerings for a greater range of services.

Consumers will be able to expect to more easily use their accounts both online as well as in store.

PayPal knows that it will be taking on a range of different competitive challenges when it breaks away from its parent company, eBay, later on in 2015, but it will be making a serious mobile payments push to help to ensure that it will be able to take on its rivals. There are some very large and important players that have already made it into that market space as well as some powerful giants that will soon be making their first entries into it. Among them are Alibaba, Facebook, and Amazon, all of which are already promoting their online payment systems.

Apple Pay and Google Wallet are already battling it out in the mobile payments space over smartphones.

paypal - mobile paymentsDan Schulman, veteran exec and upcoming PayPal CEO has said that the company will establish itself as a “full service” payment partner for merchants and consumers, alike, ensuring that its position will be a solid one. It will be able to handle credit card purchases, mobile transactions, and even rewards programs for customers.

PayPal has already built up a massive reputation and customer base around the world as an online payment method when making purchases on desktop computers. However, consumers are using their mobile devices such as smartphones and tablets, at an increasing rate in order to make purchases both online and while they are in brick and mortar stores. Nearly one in three transactions that are processed by PayPal are now occurring over mobile devices.

Schulman was quoted to say that “Those worlds are blurring,” when he was interviewed by The Associated Press on the subject of mobile payments plans for the company. He added that “When you go into a store environment, and you have your mobile phone with you, it should be a simple step to do a checkout from that device.”

PayPal launches new mobile payments service

New mobile payments services comes to the Asian market thanks to PayPal

PayPal has launched a new mobile payments service in order to embolden its presence in the Asian market. Asia has proven quite attractive in terms of mobile commerce due to the growing degree of smartphone and tablet penetration and the increasing number of retailers entering into e-commerce. In order to tap into this promising market, PayPal has launched mo.bi.pay, which stands for “mobile built-in payments.” This new service is designed to appeal to small and medium-sized enterprises.

Asian market shows a great deal of promise when it comes to mobile commerce

Merchants throughout Asia are becoming quite interested in mobile commerce. They have found that consumers enjoy shopping from their mobile devices and those that do so tend to spend more money than those that do not. E-commerce has already won the favor of many consumers throughout Asia, particularly those in China, and this popularity has not gone unnoticed by retailers. Large retail organizations like Alibaba have made a name for themselves in the world of online shopping and are now beginning to focus on mobile commerce.

Services for small and medium-sized enterprises are currently lacking

Paypal mobile payments serviceThere are many mobile commerce services that are available for large retailers, but few of these services cater to the needs of smaller groups. PayPal intends to capitalize on this by giving small and medium-sized enterprises something they can use to engage mobile consumers more effectively. Mobile point-of-sale payments are expected to reach $5.4 billion by 2018 and PayPal is keen to ensure that it has positioned itself to take advantage of this aggressive growth in mobile payments.

PayPal works to fend off its competition in the mobile space

PayPal now accounts for 42% of eBay’s total revenue. The company has been purchasing firms that specialize in mobile commerce and technology recently, with its most prolific acquisition being that of Braintree for $800 million. PayPal is working to establish an even stronger presence in the mobile payments space so that it can fend off competition from companies like Google and Square. While Square has focused primarily on the North American market, the company has recently expanded into Japan.