Monday, July 27, 2015

Apples, Galaxys and Razor Currency

Once just the hassle-free electronic payment arm of eBay, PayPal is now a publicly-held, standalone company traded on the Nasdaq Stock Exchange. Its top business strategy is to become the uncontested leader in the mobile commerce space.

With great brand recognition, it already has a huge head start. It’s also transforming to mobile in an environment where consumers are hungry to be able to use their mobile phones to complete retail transactions, not having to worry about having cash or credit card in hand.

That’s especially true of the Millennials and younger generation of consumers who don’t have the same online security fears as their generation predecessors. And to make it more enticing to all consumers, PayPal is expanding its one-click purchasing feature, called One Touch, to make payment processing faster and thus more attractive.

But that’s not the only way it plans to capture the mobile commerce space. With retailers looking for ways to engage shoppers who are already in their store, PayPal wants consumers flip open their phones, not wallets, to pay for their purchased merchandise at the register.

In-store mobile payments can make in-store shopping even more attractive, if the experience is user friendly, reliable and fast. So if trends continue, you’ll soon be able to leave your Washingtons, Lincolns and Jeffersons at home, in favor of your Apples, Galaxys and Razors.

1 comment:

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