Tag: paypal

PayPal makes sweeping update to mobile commerce app

| September 9, 2013

PayPal application may triumph in the mobile commerce sector thanks to new update

PayPal has issued a major update for its mobile commerce application that may help it edge out the competition from other mobile wallets. The PayPal application has long existed as a way to allow consumers to manage their financial information from the mobile device. Previous versions of the application did allow for transactions, but PayPal has been taking steps to ensure that the application can provide consumers with more comprehensive mobile commerce services. The new update introduces several new features to the application that may make it one of the most robust platforms currently available.

App equipped with new, innovative features

The application features a new user interface that is designed to be more convenient for users. Those using the application to make a purchase can now take advantage of PayPal’s “Bill Me Later” financing option as well, providing more flexibility when it comes to mobile payments. PayPal has also taken steps to make the in-store mobile purchase process more efficient. Consumers will be able to use the application to pay for products in physical stores more easily than they could with previous versions of the app.

PayPal Mobile Commerce App UpdateFeatures allow users to find local stores that support mobile commerce

PayPal has also introduced a new feature simply called “Shop” to the application. Shop allows users to find local restaurants and stores that accept mobile payments. The application also allows users to change the way they pay for products as they please. Users can opt to use their PayPal balance or make use of a credit card or bank account that has been linked to the application as well. The application also allows consumers to place and pay for orders from restaurants that support mobile commerce. This same feature allows consumers to pay for these orders when they receive their meals.

PayPal may establish strong lead with updated app

PayPal has already established a strong presence in the mobile commerce field, but the company has yet position itself as the clear leader in this sector. There are a multitude of mobile commerce services available to consumers today, and this abundance of options means that no single platform has managed to win the favor of the majority of people in any given market. PayPal has designed its updated application in order to tackle this issue.

Mobile payments startups may be no match for PayPal

| August 23, 2013

PayPal continues to dominate the mobile payments field

The mobile commerce sector is rife with competition. The growing popularity of mobile payments of consumers has encouraged numerous startups to emerge, each looking to beat one another in the hopes of gaining consumer support. The problem, however, is that there is already a well established commerce platform that has muscled its way into the mobile sector: PayPal. The company has been involved in mobile payments for years before mobile commerce began gaining significant attention around the world and its presence in the sector may be too much for smaller companies to handle.

Competition may be too much for startups to handle

Consulting firm Crone Consulting LLC suggests that the mobile commerce market has become over saturated. There are numerous startups working against one another to appeal to consumers. Many of these organizations are offering mobile payments processing systems that are fee-free. While this may be attractive for merchants that are reaching out to mobile consumers, the fact that these startups are not making any money off these transactions has created some uncertainty among consumers.

Mobile Payments - PayPalVenture funding may not be an adequate option for mobile commerce startups

Many mobile payments startups are backed by venture funding. When this funding runs out, however, these companies may be unable to generate a profit or cover the costs associated with the services they offer. Some may be forced to begin charging a fee to process mobile transactions, which may lead to an exodus of clients they acquired through the promise of fee-free services. Others may simply close shop because they cannot afford to continue operation. Those that are determined to persist in the market will have to face PayPal, which boasts of $20 billion in mobile payments on a yearly basis.

Companies may find some success by focusing on very small niches in the market

According to a recent study from market research firm Gartner, the mobile commerce market is expected to reach $235.4 billion in global transaction value by the end of this year. The market is expected to see promising growth throughout the near future, a fact that has generated a great deal of encouragement for those interested in entering the mobile commerce field. Startups may find it difficult to find a foothold with giants like PayPal crowding the field, however, which has led some companies to focus on very specific niches in the mobile payments sector in order to find some degree of success and solvency.