Tag: paypal

PayPal leads the way in mobile wallets

| June 23, 2015

PayPal is beating out the competition when it comes to mobile wallets and payment support

PayPal seems to be maintaining its lead in the mobile wallets space. The company established a prominent place in the mobile commerce space years ago, being one of the first to draw attention to the convenient nature of mobile payments and through its offering of innovative digital and mobile services. PayPal has faced down competition from other companies that have entered into the mobile commerce space and has managed to excel where other companies have failed.

Survey shows that 71% of mobile consumers make use of PayPal’s wallet

According to a new survey from CMB, consumers seem to favor PayPal over others when it comes to mobile payments. The survey shows that 71% of mobile consumers make use of PayPal’s mobile wallet, which is being used to make purchases in physical stores and on the Internet. Many of those that have not used the wallet to make a purchase in a physical store have reported that they plan to do so within the next six months.

Apple find success in the mobile payments space, beating Google and Amazon

PayPal mobile walletThe survey shows that 55% of consumers are making use of Apple’s new mobile payments platform, called Apple Pay. The platform is quite young when compared to those offered by other companies, but has managed to attract a great deal of support among consumers. Google is falling behind both Apple and Amazon when it comes to mobile wallets, with Microsoft falling dead last. Of these companies, Microsoft has experienced the most difficulty in entering into the mobile payments space, partly due to the lack of popularity for its Windows Phone platform.

Mobile wallets will continue to gain momentum

Mobile wallets have become quite attractive to consumers in recent years. These platforms have become effective at keeping the financial information of consumers secure. Mobile wallets also serve as a convenient way for consumers to conduct commerce. As mobile payments continue to grow in popularity, more mobile wallets are expected to enter the market, and some of these platforms may eventually provide serious competition for PayPal.

Alibaba continues to dominate mobile commerce

| June 4, 2015

Alibaba’s Alipay platform is growing aggressively in the mobile commerce space

Alibaba continues to find success in the mobile payments field. The company’s Alipay platform has become a resounding success in China, where more consumers are participating in mobile commerce. The rise in mobile shopping has to do with growing smartphone penetration. More consumers have access to smartphones and tablets than ever before, and these people are using their devices to shop for and purchase products online and in physical stores.

Alipay has more than 270 million monthly active users that participate in mobile commerce

Alipay now has more than 350 million registered users, with 270 million monthly active users. This makes the platform even more successful than PayPal, which boasts of 162 million active users. Alipay was launched in 2004 and saw relatively little support in its earlier years. As mobile commerce began to gain momentum, however, the platform became very successful among consumers. Merchants have flocked to the platform in order to engage mobile consumers more effectively and have managed to find success in doing so.

Tencent struggles to keep up with Alibaba when it comes to mobile payments

Mobile Commerce - AlibabaAlibaba’s mobile payments platform does not exist without competition, of course. Tencent, another of China’s largest companies, also holds a position in the mobile commerce market. The company has been working to establish a stronger foothold in the sector, but has failed to keep up with Alibaba, which has managed to attract the support of several Chinese banks and other major retail organizations.

Mobile commerce still represents a small portion of the commerce space

While mobile commerce is growing quickly, it still represents a relatively small portion of the overall commerce market. As consumers become more comfortable with mobile commerce, they will become more likely to use their mobile devices to purchase products, both online and off. There are still some security concerns when it comes to the mobile commerce space, however, which is slowing its adoption. As mobile payments services become more advanced, these concerns are becoming less of an issue.