Tag: technology news

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.

Both Microsoft and American Express are fighting to acquire equity in the company.

A number of technology news reports that were recently published have suggested that insiders who are close to this issue claim that American Express Co. and Microsoft are both showing interest in purchasing an equity stake in Foursquare Labs Inc.

If these reports are true, then it suggests that the two giants would rather invest in the company than work jointly on it.

Foursquare is a tremendously popular form of mobile check-in platform. At the same time that this technology news was being released, it was also in negotiations with venture capitalists in possession of convertible debt with regards to transforming their current “holdings into equity”. The discussions that are underway are also indicating that the prospective investors have become more bold about the potential of Foursquare, following the results that it has been achieving through its latest approach to advertising that gives brands the ability to target users at the time that they have checked into a specific location.

This technology news is clearly highly appealing to Microsoft and American Express, that each have their own plans for it.

From the side of Microsoft, the acquisition of Foursquare would provide the giant with the opportunity to develop a larger role in both mobile commerce as well as in the social media scene. On the other hand, it is believed that American Express is primarily interested in the check-in platform so that it will be able to boost its competitive edge with its credit card rivals through the use of enhanced marketing an improved loyalty programs that are furthered by the influence of social media.

Steven Rosenblatt, the chief revenue officer for Foursquare, released a technology news statement, recently, which said that “I think we’ve proven our business model.” He also went on to add that “Our business model is very clear and it’s working, doing what we thought it would do, if not more. It’s all well ahead of what we anticipated.” If the rumors are true about Microsoft and American Express, then clearly Rosenblatt is right.