Tag: paypal

PayPal is looking to grow off the swell of the mobile commerce market

| March 22, 2016

PayPal is looking to monetize its Venmo division

PayPal is attempting to successfully monetize Venmo after having acquired the mobile payments firm in 2013, hoping to take advantage of the growing popularity of mobile commerce. Venmo has gained popularity among consumers as it allows them to send and receive payments amongst one another. The service blends the mobile commerce world with social elements, which has given it a competitive edge over other services that have sought to establish a foothold among mobile consumers.

Venmo processed $7.5 billion in mobile payments in 2015

In 2015, Venmo processed some $7.5 billion in mobile transactions, a 213% increase over what it had processed in 2014. This is only a fraction of the $282 billion in payments that PayPal processed last year, but Venmo is seeing aggressive growth. PayPal wants to monetize the service by allowing them to spend money through Venmo rather than only being allowed to transfer money to one another. Over the coming months, this aspect of the service is expected to mature and become well liked among consumers interested in mobile commerce.

PayPal is looking to expand into European markets to support mobile transactions

Mobile Commerce - PayPal to growApart from Venmo, PayPal is looking to expand on various fronts in the mobile payments field. At this year’s Mobile World Congress, PayPal announced a new partnership with European telecommunications company Vodafone. Through this partnership, millions of PayPal’s European customers were able to use their Android devices to make purchases using the Vodafone Wallet service. This service is expected to break into several European markets in the coming months.

PayPal is establishing a stronger foothold within China

PayPal has also extended its partnership with Alibaba, the largest e-commerce group in China. Together, the two companies have launched a new pilot program, through which retailers can accept PayPal payments. This program is tailored for merchants that want to sell products through Alibaba Wholesale, providing them with a way to effectively connect with mobile shoppers. This may be good news for PayPal, as China is one of the world’s fastest growing mobile commerce markets.

Visa aims to make mobile payments faster with update to Visa Checkout

| March 16, 2016

Visa Checkout service has been improved to highlight the convenience of mobile commerce

Visa wants to make the mobile commerce process faster and is working to improve its Visa Checkout service. Visa Checkout was first introduced in 2014 as a way for Visa to compete with PayPal and other companies. The service allows merchants to embed interactive buttons on their sites and mobile applications, allowing consumers to make payments without having to navigate away from these sites or apps. The service had succeeded in generating strong support among consumers, but Visa is keen to make the service faster in order to highlight the convenient nature of mobile payments.

Payments made through Visa Checkout will now be faster

When Visa Checkout was first launched, consumers would have to input a username and password in order to complete a transaction. Now, however, the service has been updated to require only a password. Customers using the service now see a picture of a card where the Visa Checkout button used to be. Swiping right on the card on a mobile device asks users to input a password and this makes the mobile payments process much quicker.

Access to Visa Checkout is expanding to more merchants interested in connecting with mobile shoppers

Visa - Mobile PaymentsVisa is also expanding access to its Visa Checkout service. When first launched, Visa Checkout was only available to merchants selling digital goods and services. Some merchants were able to use the service if they delivered goods to physical stores for later pickup. Now, Visa Checkout can be used by merchants that ship products directly to customers over the next few months. Visa expects that this will be a big hit with mobile shoppers, who are already convinced of the convenience of mobile commerce.

Visa is making mobile commerce more secure and convenient

Convenience is one of the most attractive aspects of the mobile payments field. Many consumers have opted to use their smartphones to shop for and purchase products due to this convenience. Visa has also succeeded in making the mobile commerce space safer for consumers, which has further encouraged their participation in this sector.