• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

PayPal Marks a Decade of Mobile Payments

April 21, 2016

With 2016 marking the tenth anniversary of PayPal in Canada and of PayPal’s mobile payments services in the US, the company is highlighting the growing importance of mobile. In a statement on the company’s website, PayPal Canada General Manager Cameron Schmidt asserts, “Our shopping habits are changing and money is going mobile.”

PayPal Marks a Decade of Mobile Payments Schmidt points out that when PayPal’s mobile payment services launched in 2006, they accounted for under one percent of the company’s global transactions, whereas now they account for almost 30 percent. Looking ahead, he points to a number of connected trends, including the increasing digitization of money, rising B2B e-commerce, and increasing collaboration between traditional financial services companies and FinTech upstarts. Schmidt also points to potential opportunities in what he calls “Contextual Commerce”, referring to embedded purchase options in other media channels such as email and social media.

The main point, though, is that mobile is playing an increasing central role in transactions; Schmidt concludes that “[f]or years, we’ve been talking about the power of e-commerce and mobile payments, and we are now finally beginning to see the full potential that this industry can deliver.” Together with its recent renovation of its mobile app and its enabling of NFC for in-store payments, the message sends a strong signal that PayPal intends to compete aggressively in the mobile domain, where it will likely come into increasing conflict with mPayment platforms like Apple Pay, Samsung Pay, and Android Pay.

Filed Under: Industry News

Related News & Articles

Las Vegas’ Venetian Turns to Health Pass App to Enable Safe Reopening

Wearables For Enterprise And Industrial Applications Are Taking Off

Polish Crypto Exchange Embraces Selfie Onboarding

Primary Sidebar

Register For the Next Virtual Identity Summit

Travel & Hospitality Biometrics Online Summit
Register now!

Tweets

Sponsored Links

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi's product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • Selfie Onboarding Specialist Names New CFO
  • AU10TIX Provides Selfie Onboarding for Israeli Digital Bank
  • ‘Meta Pay’ Plans Hint at Digital ID Applications
  • Google Switches to New In-display Fingerprint Sensor for Upcoming Pixel 6a
  • Meta Deactivates Instagram Filters for Users in Texas and Illinois

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2022 MobileIDWorld