Tag: paypal mobile commerce

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.

Features 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.

The research revealed that 29 percent would rather pay with their smartphones than credit or cash.

A recent mobile commerce study has revealed that nearly one third of Americans have stated that if they could carry only a single item when they leave the house, it would be their smartphones, even over and above their wallets.

This preference has occurred at the same time that a growing interest has revealed itself in smartphone payments.

These discoveries were among the results of a mobile commerce analysis that was conducted by PayPal. It also indicated that most consumers in the United States – 86 percent – wish that they wouldn’t need to carry a wallet at all. The report on the study also looked into the consumer attitudes in four other countries, which were: Canada, the United Kingdom, Australia, and Germany. They saw a similar trend toward smartphone payments in each of those countries.

At the same time, the report indicated that businesses are falling behind consumer interest in mobile commerce.

What it showed was that businesses are not keeping up with what consumers want from mobile commerce and payments. It has indicated that 68 percent of Americans have found themselves in a situation in which they would want to buy something but they didn’t have any cash on them. Another 30 percent stated that this happens to them frequently. However, PayPal did not include any data about the attitudes regarding business owners for accepting smartphone payments within the report.

Another mobile commerce study performed by Gartner, showed that transactions will likely grow to reach $235.4 billion before the end of the year. Moreover, by 2017, they predict that transactions will hit $721 billion. At the same time, NFC technology – which has been used for many forms of mobile payments services – has not taken off as had previously been predicted, and many high profile services (such as ISIS and Google Wallet) have struggled to take off.

The PayPal mobile commerce survey indicated that shoppers are ready and looking for a change in the methods available to them for making payments, but there is yet to be a market winner because no single system has emerged.