Tag: paypal mobile

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 mobile payments data shows doubling on Cyber Monday

The digital transaction giant has said that there are far more people purchasing gifts with their devices.

According to a recent PayPal mobile payments release, there are far more consumers using their devices for buying holiday gifts, this year than there have been in previous years, to the point that they have said that there has been a full doubling, or more.

This company’s data is significant as it handles one in five ecommerce transactions worldwide.

On Cyber Monday, alone, the data from PayPal mobile payments showed that there was an increase in global transaction volume from smartphones and tablets equaling 108.9 percent when compared to the same day in 2012. They compared the same first Monday after Thanksgiving as opposed to comparing the calendar dates, themselves, which would not have represented the same shopping experience.

This allowed the PayPal mobile payments data to provide an accurate representation of year over year growth.

PayPal mobile payments dataThe company, which is owned by eBay, currently boasts 137 active accounts around the world. It is currently present in 193 global markets that use 26 different currencies. Every day, the company processes an estimated 8 million payment transactions. Many consumers have already been using this digital wallet service for making their purchases online through the use of their laptops and desktop computers. The transfer to smartphones and tablets has been a natural one for quite a few of them, giving PayPal the opportunity to observe some considerable trends over the last few years.

According to a PayPal consumer experience advocate, Stacy General, in a statement that was recently released, “The technology consumers have in their hands can help retailers drive sales and engage consumers.”

At this time in which many of the large wallets such as Google Wallet and Isis are still struggling to get a foothold in the market, other options such as PayPal mobile payments are experiencing a much more promising rate of growth. Many in the industry are taking this as an indication that this transaction technology does still have hope, even if its adoption by consumers will be slightly slower than had initially been predicted.