Tag: online payments

Mobile payment partnership forms between PayPal and Citigroup

The two companies have decided to work together to make it easier for consumers to use smartphones in-store.

PayPal Holdings Inc. has entered into a new mobile payment partnership with Citigroup Inc. The goal is to let customers easily use smartphones to pay for products and services at a checkout counter.

The agreement between the two companies will not impact PayPal’s main e-commerce business.

The PayPal online payments and peer-to-peer transactions will not be connected with the new mobile payment partnership. Instead, it will open up a new direction for the company to be able to participate in smartphone transactions. It offers the ability to carry out transactions with in-store purchases.

Mobile Payments Partnership - Business PartnershipThis new agreement has raised certain questions about PayPal’s growth strategy. Some have questioned whether or not it has the potential to bring this business to a size that would rise above the lost fees.

PayPal’s CEO assures critics that the mobile payment partnership has taken this into account.

PayPal is offering deals to credit card issuers in order to provide incentives for using their new in-store mobile payments, said CEO Daniel Schulman. The company’s head of global core payments, Jim Magats, said “We talked about giving customers flexibility to pay how they want, and now we are rolling out new experiences.”

Citigroup and Fidelity National Information Services (FIS) will begin allowing customers to lead their credit cards into PayPal accounts. This will make it possible for point-of-sale mobile swipe technology. As Citigroup currently boasts 143 million customer accounts, this presents a considerable opportunity.

The idea is to “enable banking in the palm of our customers’ hands,” said Ralph Andretta, Citigroup card exec.

PayPal is also working with two smaller banks as a part of this mobile payment partnership through FIS. They include Wintrust Financial Corp. and Avidia Bank. This agreement is only the latest in a growing race among banks and credit card issuers to take hold of the mobile wallet market that has yet to move into mainstream use in the United States. Other massive participants include J.P. Morgan Chase & Co. as well as tech giants such as Google, Samsung and Apple.

Mobile wallet, ZapZap, is partnered with Ukash

The online cash payment provider is now entering into the smartphone transactions with this deal.

Ukash, the online cash payment provider, has now announced that it is partnering up with ZapZap in order to provide smartphone using consumers with a mobile wallet that will allow them to manage and spend their vouchers from Ukash even if they aren’t sitting in front of a PC.

The combination of services from these two companies provides a powerful mobile payments opportunity.

The free ZapZap mobile wallet application that is available to users of smartphones based on Android, iOS, and Windows, for free. This mobile app gives its users the ability to receive and send money from any of their smartphone contacts, including their friends on Facebook. It functions by giving its users a stored value and balance of their funds on Ukash.

This mobile wallet also gives users the chance to send and receive funds to their contacts anywhere on the globe.

Mobile Wallet - PartnershipThis type of mobile payments transaction can be sent or received from any place in the world. It also gives users the opportunity to create Ukash codes so that they can use them at online shopping websites in order to make purchases without having to enter their credit card numbers into the site through the use of their smartphones. This could be an appealing function for individuals who are concerned about mobile security. That said, it is also possible to use ZapZap MasterCards that are available through the free mobile app.

In order to use the service which combines the abilities of both of these companies, customers need to download the ZapZap application onto their smartphone. From there, they can proceed to load their device mobile wallet with funcs through the use of Ukash. That part of the service is currently available to device users throughout the United Kingdom, Europe, and the Nordic countries. Doing this involves the use of the smartphone camera in order to scan their Ukash voucher codes. The voucher is then automatically loaded into the wallet so that it can be either spent while shopping online, or transferred to friends and family worldwide.